At a recent meeting of dental industry providers in the finance sector, including accountants and financial advisors, it was discussed that integrated dental holdings (My Dentist) had (allegedly) sold three practices for £1 each. The first time they had done this.
It made me laugh out loud as I had been predicted this for years.
So busy running around to increase turnover and snag UOA’s they forgot to look at which practices were making money and which weren’t. When they realised how many of them were not making money they started to give them away.
It’s a well known fact that IDH paid back the largest ever claw back in NHS history this year and are anticipated to pay back an even greater one next year.
Ask anybody you know who works for IDH about the vacancies that exist and the inability to recruit dentists.
Young dentists would now rather leave dentistry than work for IDH.
The success of governments did this. They corporised health care, sold it away to American companies to make a profit who counted it month-by-month and quarter-by-quarter without understanding that what they actually sell are human relations.
Corporates don’t sell dentistry because people don’t buy it. People in health care buy other people in health care that they trust for advice, care, healing and attention.
Ultimately the chief executive that takes over the corporate who understands this will be able to make a go of a corporate and make it work. It won’t be a very big one it won’t answer to the investment banks. You would get a good return in your investment though, a £1 for a practice, I think even I could make that NHS practice work. I think even my 9 year old son could.
Blog post number: 1410
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