PPO negotiations are tricky business. With all the third-party leasing that takes place, it is essential to be thorough with every contract and every possibility. There are infinite combinations and possibilities that can either hurt or help a practice.
Often, we work with practices that assume they have a great fee schedule with one particular company, but fail to realize their claims are actually being paid by a third-party leaser at a fraction of what they could be. Remember, an insurance carrier will allow leasing and claims processing through the lowest paying leaser or third-party.
Our success story of the month is a single provider office in Arizona with 2 locations. In our advanced negotiation and re-structuring project, we negotiated 4 direct contracts that resulted in increases between 6% and 62% on average.
We also optimized fees with four additional companies through strategic structuring. By utilizing leverage and leasing possibilities, we were able to recommend changes that resulted in massive increases up to 53%!
Because of our thorough strategy, we increased this doctor’s revenue by a conservative estimate of $28,400/year through their 4 direct contracts and identified an additional $367,400/year through advanced re-structuring options. During the first year after our services, this practice has the potential of making close to $400,000 more with these negotiable companies than they did in 2016. That’s a 65x return on their investment!
Knowledge is power in the world of insurance. The more you know the better you can understand your options and seek out profitable alternatives.
To learn more about your contracts, current PPO structure, and what options are available to you, schedule a consultation with Kristan today by using the following link, https://edentalmarket.youcanbook.me/ or calling us directly at 844-464-2777 ext. 100.
Kristan will review all of the insurance companies with you and give you detailed information about how they work, how they are working together, and our strategy for negotiating and structuring better fee schedules for your practice.
This is a service we offer to ALL practices at no charge. We believe in educating practices to help enable them in making profitable decisions. The cost of providing quality dentistry continues to increase at a rapid rate and it is more important now than ever to arm yourself with the knowledge required to continue to maintain a financially healthy practice.