Episodes

  • Season 2 Episode 7 - Just Say No to DSO: Analyzing Common Sales Pitches

    Season 2 Episode 7 - Just Say No to DSO: Analyzing Common Sales Pitches
    Jun 14 2024
    Bob and Nate encouraging dentists to reject DSO sales pitches and maintain ownership of their practices for long-term success. Reiterating the importance of staying engaged in their work and understanding that DSOs won't overpay or make practice ownership easier.
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    24 mins
  • Season 2 Episode 6 - DSO Contract “Gotcha’s”

    Season 2 Episode 6 - DSO Contract “Gotcha’s”
    May 29 2024
    In this episode of “Just In this episode of "Just Say No to the DSO," hosts Bob Spiel and
    Nate Williams dive deep into the subject of DSO sale and employment contracts, and
    the surprises that dwell inside each.
    The discussion underscores how DSO contracts are driven by dollar signs and the
    DSO’s need to exert control in the business relationship.
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    21 mins
  • Season 2 Episode 5 - The Truth about DSO Ownership Equity

    Season 2 Episode 5 - The Truth about DSO Ownership Equity
    May 16 2024
    In this episode of Just Say No to the DSO hosts Bob Spiel and
    Nate Williams dive deep into the subject of ownership in a DSO, or what is called
    “Equity”. They describe why Equity is a self-made target that allows DSO’s to
    dramatically overstate their value, which leads dentists to believe their ownership is
    worth much more than it is.

    The discussion underscores the lack of transparency among DSO valuations, and why
    self-defined Equity is open to abuses. Ultimately, the episode aims to empower dentists
    to make informed decisions that safeguard their autonomy and financial well-being.
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    33 mins
  • Season 2 Episode 4 - Do DSOs Actually Overpay (Part 2)

    Season 2 Episode 4 - Do DSOs Actually Overpay (Part 2)
    May 8 2024
    In this episode of "Just Say No to the DSO" hosts Bob Spiel and Nate Williams dive deep
    into the deceptive tactics employed by Dental Service Organizations (DSOs) to lure
    dentists into unfavorable agreements. Through real-life examples and a critical analysis
    of a $29 million DSO offer, they highlight the hidden costs and risks that dentists often
    overlook in pursuit of financial gain.

    The discussion underscores the importance of diligence and transparency in evaluating
    DSO deals, urging dentists to seek independent advice and scrutinize all terms before
    relinquishing control of their practices. Ultimately, the episode aims to empower
    dentists to make informed decisions that safeguard their autonomy and financial well-
    being.
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    38 mins
  • Season 2 Episode 3 - Do DSOs Actually Overpay for Practices?

    Season 2 Episode 3 - Do DSOs Actually Overpay for Practices?
    Apr 26 2024
    The podcast is episode three of Season 2 for “Just Say No to the DSO." Hosted by Bob
    Spiel and co-host Nate Williams, it discusses reasons why dental practice owners
    should avoid selling to Dental Support Organizations (DSOs).

    This podcast episode is a warning to dentists who are thinking about taking DSO deals.
    The hosts do a deep dive into a $20 million DSO deal and reveal how deceptive these
    deals can be. They stress the importance of being critical and skeptical of these deals.
    The goal of the podcast is to help dentists make informed decisions about DSO deals
    and keep control of their practices.
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    25 mins
  • Season 2 Episode 2 - What is EBITDA, and Why do DSO’s Lean On It for Practice Purchases?

    Season 2 Episode 2 - What is EBITDA, and Why do DSO’s Lean On It for Practice Purchases?
    Apr 16 2024
    In this podcast episode of "Just Say No to the DSO," hosts Bob Spiel and Nate Williams discuss the importance of dentists maintaining control of their practices rather than selling to Dental Service Organizations (DSOs).

    They emphasize that smart business people don't overpay for practices and that DSOs are adept at making dentists think they're getting a great deal when, in reality, they may be giving away their practices for little to no value.

    The hosts explain the concept of EBITDA (earnings before interest, taxes, depreciation, and amortization) and how DSOs structure deals in a way that essentially allows them to acquire practices for free or at a minimal cost to themselves.

    They warn dentists to be cautious of promises made by DSOs regarding equity and future earnings, as these promises may not materialize. The episode concludes with a teaser for the next installment, where they will delve deeper into the realities of DSO deals.
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    21 mins
  • Season 2 Episode 1 - Are we still convinced to Just Say No to the DSO

    Season 2 Episode 1 - Are we still convinced to Just Say No to the DSO
    Apr 9 2024
    The podcast is episode one of Season 2 for “Just Say No to the DSO"; Hosted by Bob Spiel and
    co-host Nate Williams, it discusses reasons why dental practice owners should avoid selling to
    Dental Support Organizations (DSOs). Bob Spiel has an MBA and is a practice management
    consultant, while Nate Williams is a dental CPA. They have both been in dentistry for over 15
    years.

    Key points discussed: Introduction: Bob and Nate introduce themselves, emphasizing their
    experience in dentistry and financial consulting.

    Reasons to Avoid DSOs: They discuss three prevailing myths about selling to DSOs:
    ● Myth 1: Selling to a DSO will make more money.
    ● Myth 2: Selling to a DSO means earning passive income from others'; work.
    ● Myth 3: Selling to a DSO will make life easier.

    They then dive into:

    Reflection on Season 1: Bob and Nate reflect on Season 1's topics, emphasizing the
    importance of owning a dental practice for long-term wealth.

    Changes in the Industry: They discuss the rapid growth of DSOs and the
    challenges they face, such as contract expirations and recruitment difficulties.

    Case Study: Bob and Nate share a real-life example of a DSO facing financial
    difficulties and restructuring, highlighting the risks associated with selling to DSOs.

    Lessons Learned: They draw parallels with the medical industry's shift towards
    corporatization and caution against losing control over one's practice and profession.

    Preview of Season 2: Bob and Nate outline the topics to be covered in Season 2,
    including financial principles, contract analysis, equity considerations, and common
    pitfalls.

    Conclusion: Just Say No to the DSO! If you have any questions, please send them to
    questions@justsaynototheDSO.com

    Overall, the episode serves as a warning against the potential pitfalls of selling private dental
    practices to DSOs and provides insights to help dentists make informed decisions about their
    practices'; future.
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    30 mins
  • Episode 7 – Season 1 Wrap Up and FAQs

    Episode 7 – Season 1 Wrap Up and FAQs
    Sep 13 2023
    Concluding Season 1, the conversation focuses on the complexities and challenges associated with dentists selling to Dental Service Organizations (DSOs). Many dentists who engage in these DSO partnerships find themselves literally "paying back" their earnings over extended periods, without reaping any significant benefits unless their DSO is gobbled up (i.e. acquired) by a larger DSO. This model has an alarming turnover rate, with about 70% of engaged dentists leaving within the first two years, suggesting widespread discontent among the dentists who work within DSOs. While it is argued that one need for DSOs arises as dental graduates might not be ready for private practice because of modern dental education, many leave due to the unsatisfactory work environment.

    Bob and Nate further stress how the role of the dentist in a practice remains paramount. Their intrinsic value lies in the care they provide, and the episode emphasizes the vast growth and development opportunities available within the dentistry field. Throughout their careers, dentists have the unique opportunity to grow significantly in their clinical skills, and also grow in managerial, interpersonal, and leadership capabilities.

    The hosts passionately advise dentists to retain ownership of their practices and be cautious of the DSO model's allure. They anticipate potential challenges for DSOs in the future, especially in retaining top-tier talent and managing the associated financial constraints. Concluding the episode, there's a call to challenge the conversation about DSOs in the dental community, placing emphasis on individual dental practices over corporate DSO models.
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    53 mins