The Board of Dentistry shall review the record of the mediation committee recommendation and the state mediation appeals committee in determining any final appeal. The Board may conduct a formal hearing upon the request of a party or upon its own initiative and may affirm, modify, or reverse the recommendation appealed. Any formal hearing shall be conducted by one or more members of the Board as it may determine, and a hearing shall be conducted in accordance with such rules as it may prescribe. The action of the Board in ruling upon the appealed recommendation shall constitute a final nonappealable decision, however, the final recommendation of the Board shall not be binding on the parties involved in the dispute.