iSmile Orthodontics, led by Dr. Steve Giannoutsos (known as Dr. Steve), is a group orthodontics practice focused on excellence, community, and accessible care. The team is dedicated to providing exceptional clinical expertise and personalized treatment plans. This commitment to superior service and successful outcomes has earned iSmile numerous accolades from insurance companies.
Beyond its clinical excellence, iSmile’s leaders also take pride in serving the community and actively giving back, supporting various local events, organizations, and initiatives.
A few years ago, as iSmile’s leadership considered the next step in the practice’s journey, they recognized the need for expert dental practice consultants to provide clarity and guide them in the right direction.
Navigating Growing Pains
Even before the pandemic, Dr. Steve knew that he wanted his team and the business to perform with maximum efficiency and effectiveness to enhance resilience, growth, and future sale potential. But before he could find a consultant to aid this transition, COVID struck.
“We were never, ever in our wildest dreams, thinking that something like COVID would happen and we would have to weather that storm.”
– Dr. Steve
The pandemic added a sense of urgency to iSmile’s search to find guidance from an expert who “knew what they were doing,” which led them to Polaris Healthcare Partners, which came highly recommended. “These guys knew dentistry,” said Dr. Steve.
Pivoting Toward a Successful Future
Once Dr. Steve and his team engaged Polaris Healthcare Partners, Polaris immediately began working to understand the leadership team and identify and gather operational and clinical insights. This groundwork formed the foundation for future strategic plan development that aligned with iSmile’s vision for the future.
According to Dr. Steve, the practice was historically successful, but was suffering from a lack of direction: “We had a big motor, but we didn’t have clarity on where we were heading.”
One issue that the Polaris identified early on was that Dr. Steve and his now-former partner had different visions for the future. To allow both to achieve their respective goals, the former partner decided to pursue new paths.
With that leadership change, Polaris helped Dr. Steve and his team redefine the practice’s future. This process created opportunities to rethink next steps, and how this change would impact culture, operations, and team members. In partnership with the practice’s Chief Operating Officer, Geovane Lemond, Polaris guided the team through a strategic approach that prioritized long-term success over short-term gains for sustainable growth. Geovane said Polaris also helped the team fully understand and benefit from a deep understanding of patient demographics and referral sources, particularly for their orthodontics practice. Not only did this help the practice clarify its future vision, goals, operational needs and processes, but also positioned them to pursue the necessary financing to achieve these objectives.
“Polaris helped me redefine my business and my identity as a practice owner, entrepreneur, and visionary. I was far from where I wanted to be and am now working towards that vision; I’ve come to really appreciate and understanding the value of taking ownership of my future.” – Dr. Steve
With Polaris’ support, iSmile secured critical financing while crafting a plan for future investments. This funding has enabled iSmile to modernize its group practice through capital investments. Financing through Polaris’ was also used to facilitate iSmile’s acquisition of other practices, including a pediatric dentistry group practice – a key referral source – representing another step toward iSmile achieving its vision of an effective, efficient, and sustainable growth model.
Beyond ensuring the business was primed for growth, the Polaris team also leveraged its executive coaching expertise with iSmile’s leadership team, helping Dr. Steve and COO, Geovane transition out of managing day-to-day fires and responsibilities. Instead of focusing on short-term tasks, they now operate on a quarterly basis, focusing on key performance indicators (KPIs) from the past 90 days and planning for the next 90 to 180 days. This forward-looking approach emphasizes long-term growth and involves envisioning life-changing opportunities for all team members, creating a place where everyone could thrive professional and personally.
Positive, Sustainable Growth
As a result of Polaris’ comprehensive and holistic engagement as a consulting partner, in just 18 months iSmile has:
- Achieved 26% practice revenue growth
- Added three new offices
- Acquired eight offices
iSmile today remains rooted in its core values of integrity, compassion, and excellence while also ensuring that its leadership team remains in control of its future success.
Dr. Steve and Geovane are continuing to pursue their goals of efficiency and effectiveness to ensure that the practice remains sustainable and focused, while keeping the door open for a future sale or other transaction.
On partnering with Polaris, Geovane reflects that getting comfortable with the uncomfortable is a critical part of not only Polaris’ ability to help practices achieve their goals, but also an essential ingredient in his team’s ability to realize their vision and dreams. “Polaris helps you get comfortable with being uncomfortable so that you can be fully committed to being better tomorrow than you are today,” said Geovane.
“Polaris helps you get comfortable with being uncomfortable so that you can be fully committed to being better tomorrow than you are today.”
– Geovane Lemond