Running a successful dental practice requires a delicate balance between providing top-notch patient care and managing the business side of operations. For many dental practices, the complexities of human resources (HR) can be overwhelming, time-consuming, and costly. This was the case for Smile Bright Dental, a mid-sized dental practice with three locations in Florida. Faced with rising HR expenses and administrative burdens, Smile Bright turned to a Professional Employer Organization (PEO) for help. Here’s how they managed to cut their HR costs by 30% while improving overall efficiency.
The Challenge
Smile Bright Dental was struggling with several HR challenges:
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Escalating Costs: The practice’s HR expenses were eating into its bottom line. From payroll processing fees to compliance management, the costs were steadily climbing.
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Compliance Risks: Staying compliant with federal and state labor laws was a constant concern. The complexity of multi-location operations added to the risk of penalties.
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Administrative Overload: The practice’s in-house HR team was stretched thin, managing payroll, benefits administration, recruitment, and employee relations.
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Retention Issues: Attracting and retaining top dental professionals was becoming increasingly difficult due to limited benefits options.
The Solution: Partnering with a PEO
After evaluating their options, Smile Bright Dental decided to partner with a PEO. The PEO offered a comprehensive suite of HR services, including payroll management, compliance assistance, employee benefits administration, and recruitment support. Here’s how the PEO addressed the practice’s key pain points:
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Streamlined Payroll Processing: The PEO’s advanced payroll system automated time tracking and wage calculations, reducing errors and saving time.
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Compliance Support: With the PEO’s expertise, Smile Bright Dental stayed updated on labor law changes and avoided costly fines.
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Access to Better Benefits: The PEO provided access to a broader range of employee benefits at competitive rates, helping the practice attract and retain top talent.
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Scalable Solutions: The PEO’s flexible HR services allowed Smile Bright Dental to scale support as their needs evolved.
The Results
Within the first year of partnering with the PEO, Smile Bright Dental saw remarkable improvements:
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Cost Savings: By outsourcing HR functions to the PEO, the practice reduced HR expenses by 30%. This included savings on payroll processing, benefits administration, and compliance management.
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Improved Compliance: The PEO’s proactive compliance management significantly reduced the risk of penalties and audits.
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Enhanced Employee Satisfaction: Access to better benefits and streamlined HR processes improved employee morale and retention.
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More Time for Patient Care: The practice’s leadership and staff could focus more on patient care and less on administrative tasks.
Lessons Learned
Smile Bright Dental’s experience highlights several key takeaways for dental practices considering a PEO partnership:
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Outsourcing Can Be Cost-Effective: A PEO can help dental practices reduce HR costs while improving efficiency.
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Expertise Matters: PEOs bring specialized knowledge of compliance and benefits administration that can alleviate significant burdens.
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Focus on Core Competencies: Outsourcing administrative tasks allows businesses to focus on what they do best—in this case, providing excellent dental care.
Partnering with a PEO was a game-changer for Smile Bright Dental. By cutting HR costs by 30% and improving operational efficiency, the practice set itself up for long-term success. If your dental practice is facing similar challenges, exploring a PEO partnership might be the solution you need to streamline operations and focus on patient care.
Interested in learning more about how a PEO can benefit your practice? Contact NetPEO today to discover tailored solutions for your business needs.
