Tom Passalacqua: So, yeah, it, it, it was pretty wild because, you know, at the time, it was like about five years ago, so DSOs were just kind of coming to mainstream. And, you know, at first a lot of the professionals in dentistry were like, you know, I, I hear about these DSOs. And, you know, fast forward to today, I mean, it’s, everyone knows what a group practice is, right? And there’s a lot of different models and a lot of different philosophies for consolidation or building practices or, or, or building groups. But it was wild to see the management side of it, of how a company can become so robust in supporting, you know, dozens and then hundreds of dental practices. And especially when you’re acquiring practices, all of the nuances that come with acquiring the culture, the emotions, the personalities, it’s, you know, completely different than just selling product.
Tom Passalacqua: So it was a lot of the, the transition aspect. Uh, I got a chance to learn about the finance side of things, about the operational side of things, the administrative side. So I really saw quite a bit of the industry from a couple of different lenses, and it just really gave me a lot of healthy perspective of where dental is today. And even on the clinical side, just the clinical advancements over the last couple of years, you know, scanning to printing to now AI and all of the, the software innovations, too, between, you know, phone systems, patient communications, revenue cycle, insurances. There’s, there’s so much innovation and change, both on private and group practice side. So it’s, it’s pretty wild to just be part of this ecosystem, and it allows me to connect with so many different levels of, of professionals in the industry. So I feel like it really, really helped me just broaden my perspective and hone my skills.
Dr. Eric Block: It’s funny you said, you know, the— and being in Manhattan, it must be such a different animal, ’cause I’m in the suburbs of Boston, and there’s maybe nine dental offices in my town, right? Where in New York City or some other large metropolitan cities, there could be nine dental offices on your floor, you know?
Tom Passalacqua: Absolutely.
Dr. Eric Block: And, you know, hundred, you know, dozens or, uh, or more in the, in the building, mm-hmm. Um, but there’s just so much population. Yep. Um, and now did you find that, that DSOs were ahead of the game, um, versus the private practice regarding business management and kind of the back end of things?
Tom Passalacqua: I would say the groups who prioritized management are doing great, right? If you, if you’re understanding how to manage the culture and manage the emotional side of the transition, that’s where, uh, groups did well, especially if you’re acquiring. Uh, the group I worked for didn’t do many de novos, so it was hard to kind of build that culture from the ground up. Once you acquire that culture, you’re, you’re, you’re managing the dynamic between the lead doctor, the associates, the staff, and ultimately the patient base. So if you prioritize that, yes, you could stay ahead of the game. Um, as far as the support systems, we were very robust. And I see a lot of group practices who are scaling well, uh, you know, really focus on what are the tangible support systems that they’re bringing to that acquired practice, the resources that that lead doctor and team were not yet able to source on their own. So really, the, the, the value add and the resources and the systems and the operational support, that’s where groups really, you know, were able to stay ahead of that curve.
Dr. Eric Block: Awesome. Now let’s get into, uh, all about executive coaching. How is that different from other modes of support?