In the constantly changing world of dental practice management, there's one undeniable fact: Preferred provider organizations, or PPOs, are holding your practice back. I'm rallying you to "Say no to PPOs" and take back the reins of your dental practice.
It's time to channel the energy of those iconic antidrug campaigns and break free from the shackles of PPOs, cleansing your practice of their hidden costs and burdens. Let's kick the PPO habit and revolutionize your dental practice together.
The PPO predicament in dentistry
The landscape of PPOs in the dental industry is taking a startling turn. PPOs are cornering dental practices into providing steeper discounts while reducing payouts from claims. The introduction of artificial intelligence-driven algorithms has led to a rise in dental insurance claim denials, further complicating the collection process and increasing the costs of managing PPO patients. This trend is eating into profits, with practices spending more on patient acquisition and maintenance.
Why I took a stand against dental PPOs
My journey began in my dad's dental lab, where PPOs forced us to continually cut prices just to stay afloat. Despite never signing PPO contracts, their influence was unavoidable, underscoring the urgent need for change to protect dental practices from these detrimental policies.
The hidden costs of PPOs in dental practices
Engaging with PPO plans can be a double-edged sword. They can create cash flow issues due to the necessity of offering discounts and dealing with delayed or denied claims.
This financial strain is compounded by the impact on profit margins, as the required discounts significantly reduce the profitability of treatments. Moreover, the patient experience can suffer, as staff are often turned into de facto PPO helplines, straining relationships and souring the overall patient vibe.
Real-life dental struggles and stories
The effect of PPOs on dental practices can be profound. For example, some practices face audits by PPOs and demands to repay substantial sums over alleged billing errors.
Dr. Roy Shelburne's case is particularly harrowing; he served two years in prison due to billing errors totaling $15,000. This story highlights the scrutiny and financial toll that practices can endure.
The immediate benefits of cutting PPOs in dental practices
Cutting back on PPOs can revolutionize dental practices overnight. Imagine boosting your profit margins and ramping up your average revenue per patient. It's not just about the money; it's about smoother cash flow with fewer delayed or denied claims.
Stepping away from PPO dependency can also mean a more streamlined operation, top-notch patient care, and a happier workplace.
The path to a PPO-free dental practice
Stepping away from PPOs isn't just about the dollars and cents; it's a powerful move to take back the reins of your dental practice. It opens the door to focusing on what truly matters: delivering top-notch care without the headache and financial pressures of PPO contracts. Imagine your dental team being able to zero in on patient care rather than getting lost in the maze of PPO complexities.
The good news? There are strategies out there designed to smooth this transition. Consider patient membership programs. These programs build a bridge to your patients, boosting your financial health and elevating the patient experience, which in turn makes your practice more appealing and efficient. It’s a win-win!
How Practices are dropping PPOs
Memberships -- BoomCloud
Membership plans are an effective way to reduce dependence on PPOs by providing patients with an affordable alternative to traditional insurance. These plans typically offer benefits like discounted services and preventive care for a monthly or annual fee, fostering patient loyalty and increasing practice revenue.
BoomCloud helps practices create, manage, and grow their membership programs with customizable plans, automated billing, and patient support, enabling practices to retain more revenue and offer better patient care.
PPO negotiation -- Veritas Dental Resources
Veritas Dental Resources can help liberate your dental practice from the constraints of PPOs. With their services in PPO fee negotiation, contract optimization, and credentialing, they can help empower your practice to boost earnings. They can assist you with negotiating better fees, tapping into umbrella networks, and launching dental membership plans without the headache of direct insurance company dealings.
Cutting out PPO contracts -- Thriving Dentist Coaching
The Thriving Dentist Coaching program, led by Gary Takacs, offers guidance on reducing dependence on PPO contracts. Through tailored strategies, dentists can learn how to negotiate better terms, optimize their fee schedules, and transition away from PPOs. This coaching can help practices increase their profitability and financial stability while maintaining high standards of patient care.
Marketing System -- SMC National
SMC National can help your practice draw in non-PPO patients using digital marketing techniques. Think targeted ads, savvy search engine optimization, and dynamic social media campaigns. They can help you zero in on patients who prioritize quality care and don't mind paying out of pocket.
Free resources to learn more
The BoomCloud PPO Loss Calculator
The BoomCloud PPO Loss Calculator is a tool designed to help dental practices understand and quantify the financial impact of participating in PPO insurance plans. By inputting specific practice data, it calculates the potential revenue losses incurred through PPO contracts. This insight can allow practices to make informed decisions about reducing their reliance on PPOs and explore alternative revenue strategies like membership plans.
The Automatic Patient Podcast
Dive into the world of dental innovation with "The Automatic Patient Podcast." This podcast uncovers the secrets to streamlining dental practices through innovation. From savvy dental membership plans to cutting-edge practice management, prepare for a treasure trove of expert insights and actionable tips. Each episode offers advice from industry experts to improve your practice's efficiency and profitability.
Detox your dental practice from PPO addiction
Let's shake off the PPO habit and detox your dental practice once and for all! The journey might seem daunting at first, but the immediate and long-term rewards can make it all worthwhile. It's time to say a firm goodbye to PPOs and embrace a brighter, more profitable future for your dental practice.
Imagine a dental practice that's not only financially healthier but also offers an enhanced experience to every patient. By ditching PPOs and focusing on a PPO-free model, you can set yourself up for a double win: boosting your practice's success and delighting your patients.
Want to escape PPO dependency? Download my "Fire The PPO" e-book and begin your journey to freedom and success. It's concise, direct, and packed with valuable insights.
Jordon Comstock is the CEO and founder of BoomCloud. Comstock often speaks at conferences and writes on practice management and patient engagement.
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
