Everyone is back to work after the holidays. This time of year brings an overload of call to our office with practices reevaluating their yearly plans and making big finanacial decisions for the up coming months.
We have some very practical tips that can make a huge difference in increased revenue for your practice.
#1. UCR Office Fee Analysis:
This is one of the most overlooked opportunities to increase revenue in dental practices. So often we speak with practices that haven’t completed a UCR office fee analysis in years, or, they take the quick route and do a tiny percentage increase to all codes.
We recommend ALL practices do a UCR office fee analysis at least once a year using hard data to compare their current fees with other practices in the area. And yes, even if you are mainly a PPO provider, UCR office fee analysis is still crucial to the overall financial health of your dental practice. You should never be billing an insurance company based on the fee schedule you have with them. ALWAYS use your UCR fee schedule.
#2. PPO Negotiations and Optimization:
The insurance industry is constantly changing and evolving and it’s nearly impossible for any dentist, office manager, or insurance coordinator to stay on top of all the leasing changes and trends. We always recommend working with a professional PPO company that specializes in PPO negotiations and optimization. PPO negotiators spend their working hours focused on the changes and trends, much like you spend your hours focused on your patients, staff, and quality dental care. PPO contracts are no longer straightforward, and we often see practices contract with every company thinking this is the most beneficial option. Nothing could be further from the truth.
#3. In-Office Savings Plans
In-Office Savings plans open up a whole new world to dental practices. According to the National Association of Dental Plans, about 74 million Americans have no dental coverage. It’s been proven that those without benefits are less likely to see a dentist and therefore neglect their dental Care. In-Office Savings plans bridge the gap allowing you to provide a membership plan to uninsured patients. This generates a whole new market of prospective patients for your practice. It also allows you to oversee the membership benefits without having to deal with a third party. We have seen great fiscal results for practices across the country that have implemented an In-Office Savings Plan
If you would like more information about the tips and services listed above, don’t hesitate to give us a call. We would be happy to spend some time on the phone with you reviewing your current situation and providing great options for you to improve your revenue in 2019. Please call 844-464-2777 to set up your appointment or click on one of the following links for more information.
UCR Office Fee Analysis
PPO Negotiation Services
In-Office Savings Plans