A little bit of business speak here. If you have a horizontally integrated business then you out source much of your tasks along the straight line; your HR, your finance, your lab bills, your imaging, your implant provision, all to somebody who works for themselves. You become like a kind of agency who just facilitates health care things in the one building.
A vertically integrated business provides it all, from the top to the bottom (as much as humanly possible). I’m not suggesting you make your own dental chairs but you certainly make your own dental nurses, dentists, technicians and receptionists. You have your own laboratory that can work closely with you and your clinicians to provide the best possible outcomes for your patients. You provide your own research and you have the facility to teach your own staff. You do in house life support, in house cross infection training and manage all your in house CPD.
Why would you vertically integrate your business?
Because in the future of dentistry only vertically integrated businesses will survive.
Truly successful businesses own their own proprietary and formation. They understand the industry and they’re able to react based on the information that they gather and gain. Trying to keep up with the Jones’ and the practice down the road never works because the Jones’ aren’t you. If you want to survive for the next 10-15 years it’s time to start to consider vertical integration.
Blog post number: 1411
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