Private Equity and the Dental Industry, with Dennis Marvel, Fortune Management (Dental Business Radio, Episode 50)
On this episode of Dental Business Radio, Dennis Marvel, Fortune Management, joined host Patrick O’Rourke for a frank conversation about private equity and the dental industry. They discussed the inner workings of private equity firms that dentists often don’t understand, how PE firms function, and how their incentives can negatively impact a dental practice owner choosing to sell to such firms. Dennis and Patrick discussed the legal definition of an “accredited investor,” and how many dentists may financially qualify to meet that test but not have the investment understanding and experience that the term implies. The conversation also moved towards the value of independence and objectivity in healthcare-related businesses and the importance of understanding one’s scaling strategies in the industry.
The interview was recorded remotely on February 6, 2024, at the Fortune 50 member event held in Frisco, Texas, at the Omni PGA Frisco Resort. Fortune 50, powered by Fortune Management, unites an elite community of practice owners who represent the top 1% of their field.
Dental Business Radio is underwritten and presented by Practice Quotient: PPO Negotiations & Analysis and produced by the North Fulton studio of Business RadioX®.
Dennis Marvel, Managing Partner, Fortune Management
Dennis is one of the nation’s leading authorities in the rapidly changing business of dentistry. Prior to joining Fortune, Dennis acquired extensive business experience as a serial entrepreneur and through diverse positions in Fortune 50 financial firms.
Dennis has an uncanny ability to make complex business concepts simple and to turn data into clear, actionable priorities that transform business results. Whether he was managing portfolios, growing private businesses, Fortune 50 financial firms, or dental practices, Dennis Marvel has always taken a very results-oriented approach. He has a remarkable ability to understand data and teach others to break it down simply and to take actionable steps that make incredible changes to their businesses.
Dennis has a strong track record of facilitating extraordinary growth through his awareness and understanding of business metrics. He will teach you how to use key performance indicators with your team to create outstanding business results. Dennis has a core belief that your business should be a pathway to increasing your fulfillment and, in the process, have your business be a catalyst to an extraordinary life.
Fortune Management
Fortune Management is a leading business consulting firm that helps organizations, specifically in the dental and veterinary space, improve their performance and achieve their goals. With over 35 years of experience, Fortune Management has a proven track record of success in various industries, including healthcare, finance, technology, and more. Their team of experts provides various services, including strategic planning, process improvement, leadership development, and more. They work closely with their clients to understand their unique needs and tailor the firm’s services to meet the goals of their clients. Their mission is to help organizations achieve their full potential and reach new heights of success.
Topics Discussed in this Interview
09:13 The Future of Dentistry and Private Equity
14:46 Understanding the Business Side of Dentistry
23:53 The Importance of Investing in Your Own Business
28:14 Closing Remarks and Acknowledgements
About Dental Business Radio
Patrick O’Rourke is the host of Dental Business Radio covers the business side of dentistry. O’Rourke and his guests cover industry trends, insights, success stories, and more in this wide-ranging show. The show’s guests include successful doctors across the spectrum of dental practice providers, as well as trusted advisors and noted industry participants.
Dental Business Radio is underwritten and presented by Practice Quotient and produced by the North Fulton studio of Business RadioX®. The show can be found on all the major podcast apps, and a complete show archive is here.
Practice Quotient
Dental Business Radio is sponsored by Patrick O’Rourke, Founder & CEO, Practice Quotient. Practice Quotient, Inc. serves as a bridge between the payor and provider communities. Their clients include general dentists and dental specialty practices across the nation of all sizes, from completely fee-for-service-only to active network participation with every dental plan possible. They work with independent practices, emerging multi-practice entities, and various large ownership entities in the dental space. Their PPO negotiations and analysis projects evaluate the merits of the various in-network participation contract options specific to your practice’s patient acquisition strategy. There is no one-size-fits-all solution.
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