Do the limitations of PPO plans in your dental practice make you feel restricted? Are you looking for ways to increase the profitability of your practice while still providing the best possible care to your patients? This blog article outlines six steps to reduce insurance dependence successfully. By implementing these strategies, you can increase your dental practice’s profitability and provide better patient care.
 

Step 1: Know Your Data

Before reducing insurance dependence, examine your practice’s financial data, patient demographics, and treatment patterns. Understanding these key metrics will help you determine the potential impact of PPO fee negotiations on your practice’s profitability, allowing you to confidently move forward with your plan to increase revenue.

Ben Tuinei is a renowned expert in PPO negotiations and PPO optimization analysis. As the President of Veritas Dental Resources, he honed his skills by assisting countless dental practices in negotiating with insurance companies and navigating the complexities of dealing with insurance in general.

Step 2: Master Digital Marketing with Ekwa Marketing

Digital marketing has become a vital tool for the success of dental practices in today’s competitive industry.

Typically, PPO adjustments are not treated as direct expenses since you are not writing a check to the insurance company. However, by considering insurance as a marketing expense, it becomes evident that nearly 50% of your practice income goes towards attracting new patients through insurance, while investing less than 2% of your practice income in quality digital marketing can yield better results!

With Ekwa Marketing’s help, your practice can leverage the potential of digital marketing effectively, attracting new patients, increasing online visibility, and maximizing its growth potential.

Take the first step toward a strong online presence!

You’ll receive a detailed digital marketing report card and a personalized 12-month plan to dominate Google and Online Influence.

Step 3: In-Office Dental Membership Plan

Another critical step in leaving PPO plans is to implement a well-designed in-office dental membership plan. This plan allows you to provide the best dental care to your patients without the limitations of PPO plans. It also increases patient loyalty and retention while keeping your practice sustainable. The dental membership plan can be a driving force behind the transformation of your practice.

Step 4: Get Your Team 100% Onboard

Transitioning away from PPO plans requires a team effort. Communicating the benefits of PPO fee negotiations and the dental membership plan to your staff ensures they are fully on board with the vision. Involving your team in this transition creates a sense of ownership and commitment to providing exceptional patient care and services.

Step 5: Elevate the Relationship-Driven Aspect of Your Practice

One of the key advantages of reducing insurance dependence is the freedom to focus on building strong patient relationships. You can build a loyal patient base by focusing on patient satisfaction and personalized care. Nurture these relationships for long-term success.

Step 6: Add High-Value Services to Your Practice

As your practice transitions from PPO plans, incorporate high-value services catering to your patients’ changing needs. By providing high-quality services and treatments, you establish your practice as a leader in the dental industry, attracting new patients in need of specialized care.

Conclusion:

Reducing insurance dependence is an effective strategy to help your dental practice achieve financial independence. You can confidently navigate the six steps toward your practice’s growth with Ekwa’s extensive assistance.

Remember that the key elements of success for your practice are data-driven decisions, effective PPO fee negotiations, a carefully crafted dental membership plan, a fully supportive team, patient-centric relationships, and high-value services.