Are you growing frustrated with insurance companies’ increasing encroachments on your dental practice? As a dentist myself, I have experienced firsthand the frustrations that come with accepting dental insurance, and I understand the desire to reduce third party influence and get back to treating patients the way they deserve to be treated.
That’s why I created Quality Dental Plan (QDP), the industry leader in in-house dental savings plans. And after I noticed the successes achieved in my office, I became determined to share my experience with dentists all over the country. QDP dramatically changed my dental practice, and here’s how it can change yours too:
- Attracts more new fee-for-service patients by providing the uninsured population with a way to pay for the care they are so desperately in need of
- Increases revenue by as much as 30% by incentivizing patients to not only pay up front for a years’ worth of services but to keep coming back
- Improves patient loyalty because patients who join a plan like QDP are 70% more likely to refer others to the office
- Increases treatment acceptance by over 20% since patients are more likely to proceed with treatment knowing they’re getting a “good deal”
- Reduces third party influence, allowing you the dentist to set your own fees and not adhere to a corporations’ rules and regulations
Want to learn more about in-house dental savings plans? Fill out the form on this page to set up a time to talk with me directly and discover the amazing changes a plan like QDP can make in your practice.
– Dan Marut, DMD and Founder, Quality Dental Plan
With reimbursement rates falling across the board, dealing with insurance companies has become more trouble than they are worth. Going in network isn’t the only way to fill the schedule.
In fact there are better options for increasing new patient flow and stimulating practice growth without having to increase reliance on managed care. Here are 5 reasons to reduce the insurance companies’ influence on your practice:
1 – Collections Issues
Talk about a nightmare. Most practice management consultants recommend a 95-98% collections rate. Hard enough to achieve on its own, but becoming a provide for insurance plans just makes attaining this goal nearly impossible.
2 – Loss of Control of Your Fee Structure
Having to reduce your UCRs to the insurance companies’ liking defeats the purpose of being in private practice if you can’t even set your prices.
3 – Decrease in Patient Perception of “Quality”
One of things patients hate most about going to their medical doctor is the wait. Patients with appointments often find themselves waiting up to an hour while the MD has to see 10 patients per hour just to afford his or her overhead.
Why would a dentist ever want to emulate a medical practice? If you want to project an image of quality comprehensive care, a volume-based drill and fill operation may not be the way to go.
4 – Why Offer a Permanent Discount?
What is an insurance company? Basically it’s a marketing scheme. In return for them filling your appointment book, you agree to discount your services to the people they send to you. Forever.
5 – There Are Other Options!
With an in-house dental membership plan like QDP, dentists can offer their patients an alternative to dental insurance. Patients pay the dentist an annual membership fee and in return they receive a year’s worth of preventive care. The dentist gets paid up front and the patient has one low annual fee that is often a fraction of an annual dental insurance premium. There’s no third party involvement, and dentists get to collect their own fees and stay in charge of their fee schedules.
Insurance is not the only option for dentists. Alternatives exist that actually benefit the patients and the doctors in a more effective way. Reduce your reliance on managed care and set your practice on a path to success.
What if we could be successful by decreasing our dependence on insurance?
One of my friends from dental school called me shortly after he’d set up his practice to talk insurance with me. He was frustrated with how much time and money he was giving the insurance companies, and knowing that I had scrapped the insurance model and started offering my own pricing, programs, and savings plans, he was curious if he could pull it off as well.
We began to sift through what he liked about accepting dental insurance and what he didn’t. I decided to ask my friend a few simple questions…
Q: What is the upside of offering insurance?
A: I’m able to accept patients who have dental insurance, which increases practice revenue.
Q: Does it cost you a lot for the patient to use insurance?
Q: Do you have issues with case acceptance?
Q: Does the blame fall on you when the insurance company won’t accept your treatment plan?
Q: Does insurance cover all of your patient’s treatment?
A: No. Only a small percentage, really.
As a system, traditional dental insurance is very flawed. When you really break down the way insurance forces you to do business, you see that the only people it’s really benefitting are the insurance companies. It costs you time and resources, and since so many dentists accept it, the benefit is very modest. It allows you to fit in with the dentists in your area, not stand out.
That’s why my friend called me. Because I was able to eliminate the third parties and put the “private” back in private practice, creating a winning solution for my patients and my practice.