Jim Gochis of Synergy Dental Partners and Richard Harrell sat down to discuss Premiere 1 Dental role in the Dental Lab market space. Richard discusses how innovation lead to a new business model serving DSOs and GPOs.
Episode 3 – Innovation
Richard:
At our very inception, we began to look at printing, milling, digital capture of patient information and other technologies that were maybe leading edge – sometimes on the bleeding edge side of things! But we wanted to get in early enough that we understood these technologies and understood their impact and how they interfaced with various components downstream in terms of the manufacturing process.
We had a conversation with a client, and I said what if we sent the product to you and you fabricated it for us, as you could create for less than it cost us. And that’s because they had the metallurgist, the material science and the expertise in house, as opposed to our limited numbers. They had the expertise to develop hundreds of thousands of these pieces a year.
And ultimately it created a core premise of our business model that we now execute on. It allows us to drive cost out of our process because many of the things that go into the cost of a product in a traditional environment are now offset.
We don’t have the capital expense, our manufacturing partner does. We don’t have the software and hardware obstilesence expense, our manufacturing partner has them instead. And so we’re able to drive additional costs out of the process – and we’re not greedy so we’re always glad to split it with our customers.
Fundamentally, we want our customers to be happy with what they pay for our product, the consistency of the product, and the result of the product – whether that be in aesthetics, fit, form or function.
