The TRUTH about Dental Fees
by Dr. Dennis DeLoach and Kristan Palmer
Dental Fees are the most misunderstood and most neglected area in most dental practices. Dentists who do not have a system in place to review and align their fees with the most accurate and detailed information available are losing millions of dollars over their career… Yes, MILLIONS!
The effect that neglected dental fees have on your bottom line is staggering and potentially catastrophic. Everything you do in the business of dentistry revolves around your full office fees. So many practices believe that since they are accepting a “contracted fee” from an insurance company, it doesn’t really matter what you’re charging… Call us to learn more about PPO fees and how your office fee is impacting your rate of pay from insurance carriers.
3 Reasons Why You Should Be Updating Office Fees:
- They impact your collections from cash paying, out of network or uninsured patients. While this isn’t the biggest concern for most practices, the average practice sees 20-30% of their active clients under one of these circumstances and collects their full office fee.
- Leverage to increase insurance reimbursements. Insurance companies review and adjust fees for any given area based on what providers are billing! Furthermore, if you want to negotiate PPO contracts with eligible companies, what incentive do they have to increase your contracted fees if you can’t prove it’s costing you more to provide dentistry based on what you’re billing to them?
- Allows practices to create a profitable and attractive In-Office Savings Plan. Savings plans are one of the most popular concepts in the industry right now and allows practices to become less dependent on third parties. The only way to make sure your plan is profitable is to make sure your fees are in line before discounting them. If you’re offering discounts on top of discounted fees, you’re cutting yourself short.
Technology now exists that gives us the most accurate information on where your office fees should be and the best part is this data is sorted to include data for your geographical zip code only. The data shows a side by side comparison of your current office fees and a range of benchmarked percentages for your area. It’s also color coded to easily recognize where changes need to be made most!
3 Reasons Why You Should Consider FeePro Software to Increase Your Office Fees:
- Our software pulls from the largest database nationwide, with accurate and up-to-date percentages for your area. This data is not coming from an unknown sample size from your supply rep. Our data shows you frequency of each code used to create the data to assist with decisions and also calculate your share of the market. It’s also ongoing, unlimited data, not a one-time printed report.
- Our software allows you to select a few codes or review the entire ADA list. You can also generate your own Excel or PDF reports and even calculate potential new revenue based on changes and increases.
- The software is user friendly and comprehensive. Training in the software takes 5-10 minutes. Access to our software includes access to our support team, we can help with specific questions, guidance as you review and train new staff or provide refresher training anytime!
Interested in learning more about FeePro? Click here to schedule a 15 minute demo and see it for yourself. One of our Office Fee Analysis Coaches will show you all the details of how FeePro can benefit your practice and save you time and money.