232: Save 30% on Dental Supplies Without Changing Vendors

So if you're spending 10% on supplies and I get you down to four and a half, that's like a 45, 50% savings. Even more if you're at a 6%, I get you down to four and and half percent. That's a 30, 33% savings, you know, give or take.

Hi, I'm Emmett Scott and just like you, I've had my ups and downs in the dental industry, but times are changing. The DEO has built a map of how to succeed in one of the most challenging industries to navigate. On this show, we talk to dental industry leaders, solve problems and get you the answers you need to face these challenging times and thrive. Welcome to Growth Secrets podcast for dental organizations. Now let's get started.

All right, everyone, welcome to yet another episode of deo's Growth Secrets podcast. I have one of my favorite people in the industry with me today. This is Brad Freeman, the founder and CEO of Source Club, which not only is Brad an amazing partner to the do and just an amazing person who's looking out and helping a lot of people in the industry, but his business helps you become more profitable. And they do. And you do it in a way that is kind of a no brainer really. So this is a hot topic right now with rising labor costs in the industry. We are working with a lot of our members and coaching clients day in and day out to improve profitability. And to be honest, this is one of the lowest hanging fruit there is. So Brad, you want to say hello and give us a little bit of a background?

Yeah, absolutely. So nice to, nice to get in front of everybody here on the podcast again. Brad Freeman, founder and CEO of Source Club. And you know, we've, we've been doing dental supply chain, I've been doing it for going on shoot 15 years now. Source Club's been here the last five and man, we've seen, you know, a great partnership with the deo. We've seen a lot of growth and ultimately the savings that we've been able to drive our clients, you know, but at the end of the day, our real core model here, who we are at the end of the day, our core focus, our core competency is around the variable expenses of supplies and labs, supplies being the bigger side of it and the overall reduction of those of those expenses. Right. Knowing that at the end of the day your profit loss statement is your health metric, your health score of your, of your business and ultimately, you know, we are a cure or a preventative measure on one of the elements that a Lot of dental practices have which is overspending on dental supplies.

Exactly. So if you're spend, I mean if you're a dental office, you are getting supplies and labs, you're spending money. So let's talk about the only three things that could be going on, Brad. Number one, you're not part of any kind of what's called a group purchasing organization. I want to hear your definition of that here in a second. So from my perspective, this is where you're part of a group where you are kind of using your collective buying power to get lower prices. Right. It exists in a lot of different industries and it exists in, in dental too. So either one, you're not a part of those, you're not a part of one at all. In which case you, who knows, we're probably not getting the best prices. What you're going to talk about that. Number two, you're part of one that is not source club is in which case you may or may not be getting the best prices that are available to you or you're a member of source club. Those are really the only three things going on there. Brad, is there anything else that I'm

thinking those, those three things are kind of as a high level as you look at it. I can kind of even bully like really bullet it down to two options here or two scenarios in that causes the over expenditure in dental supplies and that is the lack of transparency and visibility. Whether that's your suppliers you're ordering from, who has the best price, who has the same products, how are you tracking against budget. It's the transparency and visibility. And the second piece of it is really lack of leverage. And you can pay or lack of leverage, meaning how much do you buy? The more you buy, the better prices you get. Right. That purchasing power. Think of the Walmart, if you will, and then even a quasi or a third point is, is a lot of offices take the path of least resistance, right? The path that takes them the less time, that's easiest and ultimately the old school procurement, the old school ordering of dental supplies. Within the dental industry, the path of least resistance has had a very high convenience cost. Meaning yes, it's the path of least resistance. You're getting this convenience of what you're doing, but you're ultimately massively overpaying for your supplies to realize that convenience, your cost of convenience.

So those are some reasons that you may be spending more on your supplies than really you should. And once you realize that or once that becomes something that you want to work on, then you can. One option is to become part of a buying club, essentially a group purchasing organization or a buying club. So let's say me, let's talk to the people just a little bit more, Brad, who are not part of any buying club at all. What should they be thinking about? Why is this even a thing they should be thinking about? Everything's fine anyway. What words would you have with them?

Well, what I'll first start by saying is, like, there was a study that came out a few years ago, and ultimately it was talking about GPOs in every industry. They're prevalent in medical, consumer packaged goods, food care, automotive industries. But they've been very lackluster in the dental space. Right. And the true reasoning behind that is their model, which we'll get into a little bit here. Just a second. But the idea behind a gpo, as you mentioned, Jay, is it is a group purchasing organization. It has a bunch of members, bunch of buying power. Instead of you being a private practice or even a smaller group with 60, 80,000 in spin, these GPOs have millions of dollars of purchasing power to negotiate better contracts with suppliers and manufacturers. At the end of the day, you know, a GPO is a resource for anybody and all people. Right. You know, what I would say is, even if you weren't even looking at source club, joining other GPOs are likely better than what you're doing today. Now, we're not technically a gpo. That's just the definition we call ourselves because that's what everybody understands. We can talk to this a little bit more here in a bit. But, you know, our model set up a bit differently. But what I'll say is gpos typically can save you money. Now, how they save you money, we can talk about that. But how it actually costs you money, we can talk through that. But gpos at the end of the day should lower your prices of what you're paying for products, right? The things that you should be looking out for within GPOs, though, are what products do you order? Right? The more specialty products you order, like your wave ones from Dents Fly or, you know, your implants from Nobel or things of that nature. Some GPOs don't get into the specialty mixes side. Some stay heavier on distribution. Right. Some work with specific distributors because of how they make their money. We'll get into that later. But ultimately you need to be looking at a GPO1 to actually save you money. But don't be. Don't just talk to one gpo. We even give, when customers come to us, we give them Examples of our competitors, hey, don't ever sign until you how, you know, how it stacks up. What's the value that it can provide? But are there other solutions that do the same thing, that provide more value? And so when signing on with gpos, it's really, it's ultimately important to understand, okay, how do they make their money? They typically have a subscription or a commission or a subscription or a membership fee to be a part of them. But what most people don't realize is the traditional gpo, which we're a bit different, but the traditional gpo, the majority of their revenue comes from the suppliers and manufacturers where they get paid a commission, right, or a kickback or an admin fee. Most of these GPOs are tapped at a 3% fee, but it's a 3% commission fee, a 3% admin fee, be a 3% marketing fee, a stocking fee, and they're all these different fees. You can tap onto it. And there's no transparency at the end of the day to how aggressively priced their supplier is comparative to others, yet maybe better price than your old supplier. But what does it compare to the marketplace, to the other GPOs in the space where there's no transparency or, or, or visibility to how aggressive they are and is that the best solution? But more importantly, there's no transparency to how much money they're making on commissions and kickbacks and fees. The, the real issue there is, yes, the issue is transparency, but the real issue is that those typically GPOs are not your goals and those GPO goals are not always tied or the same. Right? The idea being, is a GPO you're signing on with a GPO to save money, but a GPO that takes commissions and kickbacks and admin fees, whatever you want to call them, they are disincentivized to maximize your savings. The more money they save you, the less money they make. And I'll give an example for some of the docs listening. Let's say you're using a cross text two by two gauze. You're paying 40 bucks for it. And they say, hey, you know, you know our, we're going to you join on this GPO. We have that same cross text two by two gauze at $30 doc, we're saving you 25%. How great. And I'm sitting here on the other side of the table scratching my head, saying, wait a second. Cross text manufactures Most of everyone's two by two golf private label. That's $17. You need to be ordering that one doc other GPO's won't tell you that because they actually make less money in that scenario. Here at Source Club, we don't take commissions, kickbacks. We have a membership fee just like other GPOs do, but we refuse to take any commissions, kickbacks, admin fees, anything like that. The idea being, I have a firm belief that whoever pays your money at the end of the day is your customer. I don't want my customers being our suppliers and manufacturers. I want it to be our dental members, right, our members that are part of our gpo. And because we're that subscription based platform, we are now incentivized to maximize your savings. We want you to save the most where other suppliers are better priced. We'll call that out so that ultimately we want to save you the most that we can. So the roi, the return on investment of that membership fee to us is always healthy enough that you want to come back and renew. And so now our goals and your goals are now aligned from the dental clinic perspective, if you will.

Okay, amazing. No, that was a great rundown. So, okay, so if you're not a part of any kind of group purchasing organization, otherwise known as gpo, again, a piece of language that you'll probably want to learn over time, also, also a buying club, you know, then pretty simple, right? You probably looked around as your other dental buddies, you're like, hey, if we just like locked arms and, and went to these suppliers, we could probably command a lower price. Well, luckily those already exist out there. They exist in dental now. Dental took a few more years than other businesses to mature up to this, but now they exist and that's what we have. So we have group purchasing organizations, we have buying clubs. You probably have seen those out in the wilderness of dental. And so now you have to choose which one of those do I go with, right? So it's kind of a no brainer really, Brad, to be part of one of them. And what you're saying is the reason that you guys are different, which I think is super important, is your business model, right? So Brad, I have to admit to you, I just got my first Costco membership over the weekend, right? I mean, I think I might be literally the last American to not have a Costco membership. But if you know, if you know the Costco model, how are they able to literally have the lowest price on any item they have in the store? If you go to a Kroger or a Ralph's or whatever, your, your, your grocery store is Winn Dixie, who knows, Costco will Almost always be cheaper. Why is that? Because they have decided to give you their buying price, the price they buy everything for in the whole store. And all you got to do is pay them a membership fee. And they're banking on having a whole lot of members more than they're banking on a kickback or a margin on the food. Exactly right. So Brad, this is what you, the, the, it's the harder business to create because you don't make a lot of money on each item but you just, you're banking on the long term viability. So you're saying is in dental all, nearly every other buying club, they're taking a kickback on every piece of supply that you're ordering. So they might be buying it at $17, they're charging you 20, so you might be getting charged 25 off the street, but they're charging you 20 and they're still making $3 where you're different. So we're just love to hear a little bit more about that because that is really a huge difference and I think the main reason that you've been so, so successful.

Well, and some of the key differences there are, and you know, there's other GPOs in the, in the, in the platform and I don't want to, you know, throw shade at those other GPOs. Other joining a GPO is better than doing nothing. I'll argue joining us is better, but it's because of how we've set our GPO up. The reason that GPOs have not been prevalent in the dental space is because of kind of their core fundamental model. Right. And there's a couple of things that we like to talk through. And the first one is, is that most GPOs work with one single supplier, right? They work with, you know, I'm not going any names out there, but they have one distribution partner. Think of the big four out there, right? They work with one specifically. Well, why is that? Well, it's because of how they make their money, right? When you sign on with this GPO and you have to use this supplier, even if that supplier is higher priced, you're still required to order from that supplier. You're buying into their club. And it's because at the end of the day they're making those commissions and kickbacks. That's the majority of their revenue. And at the end of the day, you know, the big issue there is the lack of transparency. The lack of transparency of how, yes, their supplier is aggressively priced, but how aggressively prices to other GPOs, other suppliers. You know, this GPO metabolite may be better priced than what you're currently using at Patterson, but just because it's better price doesn't mean it's the best price or best solution out there. And so ultimately we've really designed our model different and it's all around transparency. This is a little bit of a fault that I'll. Not a fault, but kind of a personality flaw that I have. I live in a very black and white world. I have an accounting and finance background. I don't do well with gray areas. I don't do well with emotional intelligence, sales and marketing. So we like to play everything transparently. Transparently. We work with multiple different suppliers, not just one. The idea being is now we can extrapolate the best value from each. Not one supplier represents the best products, pricing, quality, you know, service across all rounds. So now we can extrapolate the best value. For me, we're ultimately pushing our members towards their best partner, not our best partner. If we only worked with one supplier, we're always pushing them towards our best partner. Because we work with a plethora all located in the, you know, across the 50 states, we've got a bunch we work with. We now can push them towards their best partners based on what products they order, what brands they order, where are they geographically located to ultimately curate a better customized solution for them. So we work with multiple suppliers and ultimately the idea with multiple suppliers is checks. It's a checks and balances system, right? If I just worked with one supplier, at the end of the day they can jack prices up and skyrocket on month over month over month and you wouldn't know any difference because you think, hey, that's just what I'm paying working with that there's no transparency to. Okay, is that actually still an aggressive price or not? Now with our suppliers, we have the ability to price compare against multiple. You know, there's a platform, our members get access to a procurement software, but you can price all these different suppliers that sell the same thing. You now have the transparency of who's better priced. But now there's a checks and balance. If one supplier raises their prices up, well, we have a bunch more suppliers here that aren't raising their price up. So it's giving you the transparency who's better price where you want to route your spend. The second difference, like we talked about a second ago, is that we don't take commissions and kickbacks. Members pay a membership fee or a subscription to be a part of us, just like they do with other GPOs transparently. Our subscription, our membership is a little higher than other GPOs. It's not 50% higher, it's probably not even 30% higher. It's a little bit higher. But we refuse to take any commissions, kickbacks, admin fees, I don't care what fee you call it. Right. At the end of the day, we receive no money from suppliers or manufacturers whatsoever. The idea being is our members pay us the money they pay us. That's part of our revenue model. They are our customers, they who they are who get our dedicated support. Right. We then require all of our suppliers to bait those, those fees into net down pricing. So we make a very bold statement here and we haven't been proven wrong ever once. And we've never not saved anybody money. I've never not saved somebody the majority on 80, 90% of the products that they order. And it's because we don't take those commissions and kickbacks, we require the suppliers to make those down into net down pricing. Now there's a third difference that separates us, but it really starts to get granular into the actual supply chain logistics moving of your products. Right. And that is the pricing. We have this transparency of the suppliers, who's best priced. You have transparency to how much money we make. At the end of the day, it's only the membership fees. We're completely transparent on that. Right. But we require the same level of transparency from our suppliers as well. And I kind of have to educate you a little bit on the background of how distribution works and how the money changes hands and how people get paid to ultimately show you why we built that transparent model. So I used to be the VP of supply chain for a big 250 office DSO out on the west Coast. Prior to, you know, starting Source Club, we negotiated a contract, we had about 20 million in purchasing power. We negotiated a contract with one of the big four suppliers that was so aggressive that if our, our volume, how much we ordered, if our volume dropped more than 2% in a month, that supplier would actually lose money on our account. Two of the big four are publicly traded companies. They can't lose money. People lose their jobs. They have retained earnings to hit profit, you know, shareholders equity hit things of that nature. So what do they do? They don't take a loss. They offset the cost of their private practice, smaller groups to offset the loss of that big DSO contract. So when I set up my contracts with my suppliers, I said, yeah, absolutely not. My customers are not going to pay for the stupid decisions you made with Corporate groups, they're not going to pay for your inefficiencies within the warehouse. And the idea of this is they, they offset the cost. A lot of the dentists out there may see you pay 4, 5, 6. I've seen up to 8 different price points for a single product within a year. Why is that? Well, they're offsetting your price up and down to pad their profit floor. So they hit retained earnings. So the idea being is that they, they're always fluctuating margins. These manufacturers have a 30% margin with the supplier. These products have 90%. These products have 12%. And the pricing is always changing. What the price is changing, your target is moving. How do you repetitively hit a, build a strategy to hit a target with a moving, you know, moving target. So we went to our suppliers and said, hey, absolutely no chance. You are not a manufacturer, you are a distribution logistics company. So we have locked all of our suppliers into what's called a wholesale cost plus pricing agreement. I'll give you an example. One of our suppliers, Dental City, one of our best suppliers we work with, they sell to our members at a wholesale cost Plus a flat 14%. Just like the whole Costco model. It's a cost plus margin in there to keep the doors open. They've got to make money. But at the end of the day, our suppliers are locked into that 14 dental cities locked into that 14% margin across all brands and all products. They cannot change their price unless the manufacturer adjusts their wholesale like 3. And if the whole 3M raises their price, well, my supplier has to raise their price to keep the 14% margin. By law, all manufacturers have to sell to all suppliers at the same wholesale rate. It's, it's anti competitive behavior. Right? So the theory there being is now our pricing stays locked and static for six months at a time. Our prices only change twice a year and it only changes when the manufacturer adjusts their wholesale. But more importantly, you know, everybody's like, oh, cost increases, tariff inflation's rising and nobody ever sees any cost decreases. But the reality is manufacturers decrease their cost all the time to win more market share, right? But it's a lower price to the end user. They're going to sell more, more market share, right? Well, when a manufacturer lowers their price, you would expect the distributor to lower their price, but they don't. You're conditioned to paying that $40. If the manufacturer lowers their price, they increase their margin, so you still pay $40, but they're making additional margins off of absorbing that discount. Right. So what we've done is we've now even added a level of transparency to our suppliers. They can't willy nilly jack prices around. They can't willy nilly raise prices. They are locked in at a fixed static margin. That's pretty bare bones at the end of the day, ultimately, so that we can create a static target for our members so we can build a strategy to hit that target over and over again. That was long winded. That was, that was a lot of detail.

Yeah, no, it's a good rundown. I think it's necessary to understand how this all works, you know, because sometimes it seems, I don't know if it says it seems too good to be true, but sometimes it doesn't make sense why one person would have a lower price than another person. Right. Because it's a pretty small industry. So how confident are you that, you know, if I were to come to you as a dental office, that you would be able to offer me the lowest price for, for a particular item that was in, that was within what you guys are working with? You know, how often are you the lowest price 100% of the time?

That sounds like a true.

Is it really?

Yeah, the, the, the are on average, we save our average member 30% a year. Right. Oral surgeons that even bumps up to higher than that because they're very restricted on where they've historically been able to buy their med search products. But our average member saves 30%. Now we have some offices that people on this call have heard of Nat32, it's the Amazon. It's a marketplace of all types of dental suppliers. You know, private label, house brand, gray market, black market, counterfeit. It is truly ebay of dental products. Right. That is the absolute most aggressive price that you can go for dental products. Right. And the reason it's aggressive is some of its gray market. Some of it's, you know, Scotch Bond from three and coming from East Asia, it's lidocaine coming from Eastern Europe. There's not really an issue with gray market other than there's a lot of counterfeits. Right. You go to China, you see the Louis Vuitton knockoffs and the product, all that they, there's knockoffs of everything out there, including dental supplies as well. So what I'll say to that is net 32 is the best price you can get in the dental space. You know, not even outside of us, but like, we'll talk through that solution. But the reason they're so aggressively priced is there's a lot of gray market. You don't know where the products are coming from. An assistant can go into their clinic, steal something and then list it on that 32 and sell it to the population. Right. We're still saving 18 over net 32. So the most aggressive pricing I have ever seen in the industry, if you order from 100% from that 32, I'm still going to save you 18%. Most people don't exclusively order for net 32. They keep it specific to their disposables. But we're even beating that on price at the end of the day. And it's because of that cost plus model we mentioned. Dental City cost plus 14. This is baloney math, but in theory here, it probably cost them 9% of that product cost to pick, pack and ship and store and forklift and pallet and box it and tape it and put the label in and ship it to you. It cost them 9%. So they're only making 4 or 5% on that volume. Right. On those purchases. So the reality being is no one is willing to do what we do or suppliers are not willing to sell you dental supplies and only made 4 or 5 or 6%. The reason these suppliers are doing it is because we provide them so much volume, makes them more efficient in their warehouse, thus they can be more profitable in their other customers. So we have never in the history of our company been here to 98% of their products. Membership fee. To be a part of us, you need to spend enough to justify the savings that we're going to generate for you. So what I mean by that is if you are a single private practice doctor and you have two operatories and no hygienist and one assistant and one doctor and you're open three days a week, I can probably still save you 30% like I do all my other members. But if you're only spending 20 grand a year and I save you 30%, is that enough to justify my membership? I mean, it's still ROI positive, but maybe like a 1 or 2x. Right? So the theory being is that, you know, we do have a threshold. We have doctors that are one location, two operatories, no hygienists that come on just for the procurement software they get access to. But at the end of the day, what we say is, is our average savings percentage stays about the same. What dollar do we save you? Well, it depends on how much you spend transparently. Jake, the reason we've done, you know, great with the deo, we've helped Yalls members Are most of the DEO members are typically healthier offices, higher revenues, thus multi locations, they're spending more on supplies. It's easier to justify that ROI out. Right. If you have a single location that I spent 90, that spends 90 grand a year, that's, excuse me, I saved 90 grand a year. That's a 20x ROI on our subscription versus a doctor that spends 20 grand a year. I'm still saving them the same percentage, but am I saving them enough dollar wise to justify what they pay to us as the subscription? But it depends on how much you spend versus how much we're saving you dollar wise. And does that justify it?

Yeah, yeah. Since it's percentage based, obviously the higher number you're dealing with, the larger the percentage will equal out to be. So you know, if you're doing more than a million and a half, 2 million, you know, getting to 3, 4 million and you're not using first of all any type of buying club or gpo, then there's a significant savings. And if you're not using source club, given that right away, and we can corroborate a lot of this with our members, this is why we've partnered with you and this is why our members just continually start use Source Club is because it's, they're the lowest prices. Because you've opted for a different model. Not to mention your experience with the large dso. You are, you know, have skill at negotiating. So you're just positioned really well. I mean that's, that's really all there is to it is there? As we finish up here, Brad, what, you know, so, so you can calculate what, what percentage of savings. If I'm just, if I'm doing a couple million in revenue and I just want to know, okay, if I go talk to Brad, I think he can save me this amount of money, you know, 20, 30. How would I calculate that?

There's two ways to look at what the opportunity potentially would be. Right. The first way is using that savings percentage that we took today. 30%. That's our average member. Some are lower. Again we mentioned net 32 exclusively. We saved them like 18%. Right. But oral surgeons, we say 45. But again, law of average. Take 30%. What do you spend on an annual basis? Take that by 30, you know, take 30% of that. And that's the potential we have to save you. Right. That's a very high level dummy math that you can do on a calculator on your computer. The real true way to look at it is actually within your pnl. Right. So everybody should have have supplies as a line item expense on their piano. Labs should be separate. If not, that's another conversation we need to have. But supply should be its own expense on the GNL or on the PNL report. Right. So what we say that most offices that come to us, they're sitting around 6 to 7% of their revenue on supply spend is what they're, they're spending. Right. We've started to see that, started to see that trick up to 7 to 8, even 9% inflation tariffs. You know, the idea being is that is 67 is industry average. Now it's kind of floating towards 8. Anything above that, you are not average, you were spending too much. But I would argue that the majority of the offices that come to the CEO, they're not coming to the CEO to strive for average season average. And a lot of you guys will be pissed at your kids for bringing home seas. Right? So the idea being is average is okay, but it's not the upper echelon of practices and businesses. And so our target for our members is always 3 to 4 and a half percent. So if you're spending 10% on supplies and I get you down to 4 and a half, that's like a 45, 50% savings. Even more. Right. If you're at a 6%, I get you down to 4 and and half percent. That's a 30, 33% savings, you know, give or take. The idea being is if you're, if, if our goal on the high end is four and a half percent, what are you at today minus that by four and a half percent and that's going to give you the supply difference. Multiply that by your revenue and there's the actual dollars of what we would probably save you. Now we say three and a half, 4%. I've got some groups, hell, one of them is a coach. Now for the D E O, they came to us at 3%, now they're at 2%. Right? So just because you're at 3%, I mean we can't save you. But it essentially, if you're at 3, 4%, you're at healthy. We can save you and you can say more with us. But in reality there's likely other variables in your expense that you would like. You need to spend more time and money on. Right. Or focus on, you know, at the end of the day we have some locations that are offices that just yank wisdom teeth all day and it's a fee for service office. I can get them down to 2%. But if you're placing all, if you're placing implants all day, every day at a Medicaid office, that may be closer to 5% right at the end of the day. So really the two ways to look is you can use our law of average, take 30% of what you spend annually and that's what we can save you on average. But the true measurement there is is you may be better than average, you may be worse than average. Look at what you're spending as a percentage of revenue. And then how far off is that? From 3 to 4, 3 to 4%, which is a healthy metric to truly baseline. That's our goal for our members.

Yeah, yeah. And we do have clients and members who have gotten down to 3% which five years ago would have sounded insane, but now it's, it's, it happens, it's, it's common, so. Well, thank you so much, Brad. I'm. Obviously there's a lot to go into here. You're often at the DEO events, you're talking to our DEO members. This is, you know, something that obviously if people have the time and they kind of, it's a priority and they can really, it's pretty easy to justify the cost. It's something they can implement right away. This is also one where you can get a hold of you and marinate and learn and make sure that you feel really good. Because if you're going to, if you're an office or multiple offices and you're going to endeavor down this project, you know, it's a little, you have to train the team whatnot, but it's, it's pretty concrete, it's pretty black and white. Like at the end of this, you

just know what we ask the office is educate your teams to what we are doing here. We'll give you the materials. Hey, we're implementing a procurement software, working with a gpo. We're going to kind of start standardizing our non clinically sensitive products. We help them build the communication, if they can communicate with their teams. We do all the training, we do all the setups, we do all the formulary bills, the procurement software implementation, the go lives, the follow ups, the support, we handle all that. So we're like your outsourced procurement manager, but really kind of the big offering that we throw out there is to say at the end of the day we work transparently. Everything we do will tell you, you asked me how many cats I have, I'll tell you, it's all transparent to the point that we offer every member before they come on board. 100% free savings analysis. And that is essentially, hey, send us your purchase history from your current supplier in Excel. Makes it easier. And we can actually plug that into our algorithm and we'll go through your top 80 or 90 products and actually price out what those would be through Source Club, how many you ordered, and it would literally show you right there, hey, what is the average savings percentage we're looking at? And then we can back into that estimated annual savings. The idea being is that the doctors listen to this call. You should never, ever, ever sign up with a gpo regardless of their model, without knowing what their pricing is. Gpos cannot give you all their pricing before coming a member. And that's what their excuse is to say, well, you just got to come on board and I guarantee you our pricing is better. Just wait. And we're saying the same thing. But hey, that would be dumb to sign on with. Let us actually show you based on your purchase history. And now you have a math equation. Here's what I'm saving, here's what it cost me to be a part of it. Now you have a true ROI math equation of. Does it make sense?

Yeah, it's, it's pretty black and white and pretty just clear cut, you know, this is one where you can save some money. It's kind of a no brainer, you know. And so if this is something you're interested in, reach out to Brad. Brad Freeman at Source Club. Also, become a DEO member. And for those of you that are deal members, you can talk to Brad at our events. Any rents coming up? He's at almost all of them. And so we're going to continue to save people a bunch of money, Brad, and push up that profitability. So thanks so much and we will see you soon.

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