Many dentists are tired of how poorly insurance companies treat them and they're ready to get out. But it's important to properly prepare so you don't lose your business in the process
We hear it every day. Dentists are frustrated with dental insurance. The delay, deny, and down-code tactics. The “lost” claims. The “missing” or “incorrect” information on the claim form. Above all, we’re frustrated with the low reimbursements. Being treated like a commodity and getting paid the lowest possible fee is not why most dentists went into the profession. Increasing patient volume, while shopping for cheap materials, equipment, and lab services, is a recipe for a low standard of care. So, what can you do to minimize your involvement with dental insurance?
As frustrated as you may be, it is highly risky to make an emotional decision and drop all insurances. You could lose a majority of your patients and you could even lose your practice. But there are some steps you must take if you want to minimize your involvement with dental insurance. And let’s be clear; long term, it’s riskier to stay with insurance than to go out-of-network.
Minimizing your dental practice’s involvement with dental insurance is a difficult but worthwhile goal that is very risky and can put you out of business if you’re not careful. But with proper planning and management of the risks with strategic implementation, you can work toward this goal and provide your patients with an improved treatment experience while providing yourself with a more gratifying professional life.