Mid-Market Company of the Week: Great Expressions Dental Centers
Who: Richard Beckman
Size: $255 million
Dental Offices: More than 200 in 9-states
Practicing Dentists: 350
Location: Bloomfield Hills, MI
Goal: Double GEDC revenues within 3-5 years.
Unique Factoid: Beckman is continuously looking to add to his management group and doctors (who are looking to transition from practice to management).
Great Expressions Dental Centers (GEDC) alleviates the logistical constraints that traditionally governed dentistry. GEDC gives consumers the ability to choose the time and location of visits not associated with single practice dentistry. The corporate mantra is to provide top flight dental care (every type of dental service, from general dentistry to cosmetic dentistry and orthodontics) at a price patients can afford.
This combination has paid off. Created some thirty years ago, Great Expressions Dental Centers has grown to be one of the largest networks of dental care providers in the United States. The company has more than 200 practices in nine states and is set on a path of continued operational growth.
GEDC thrives on technological innovation as it touches every aspect of the company and improves overall efficiency. GEDC was one of the first healthcare companies to implement text/e-mail reminders for patients. Today, GEDC innovates through “state of the art” dental practice management systems and by accepting all insurances. At corporate headquarters, CEO Richard Beckman has instituted the GEDC University to improve and enhance the effectiveness of administrators and office professionals.
Great Expressions also sees opportunities where single practice dentists see adversity. GEDC views implementation of the Affordable Care Act as one such opportunity. Should employer-provided health insurance plans begin to be eliminated as a cost savings measure by employers, more people will lack dental insurance and look for an affordable alternative. GEDC already offers a “safety net” option for those patients via a program launched in 2004 called the Smile Protection Plan.
Another area of focus according to Beckman will be the regional density model. Beckman points to the company’s success in Atlanta, where GEDC has 12-facilities within the I-285 perimeter, as an example. Beckman states that the greater GEDC’s footprint is in a given location, the greater the ability for the company to integrate into the fabric of a community.