I have been employed in several DSO practices managing both dentist providers and their teams. In my experiences, the biggest obstacle to achieving consistent, successful performance has involved staff acquisition and retention. While ample staffing is currently a universal problem for all industries, in large health care organizations, effective staff retention is a vital component to attaining sustained practice growth. And it significantly impacts both clinical and financial objectives.
Traditionally, practices have offered various tangible and intangible incentives to motivate their team members, i.e., increase compensation, bonus, and rewards.
Solutions that have been slow to make considerable progress involves building diverse, equitable and inclusive strategies and hence workplaces.
The business case for diversity, equity and inclusion is beyond the scope of this post, yet organizations that champion diverse and inclusive culture have 2.5x higher cash flow per employee, 35% greater productivity, 22% lower turnover and 25% higher profitability.