When running a PPO practice, how you utilize dental insurance can help both your patients and your practice. Understand and use it well, you can ensure your patients get optimal care while reducing out-of-pocket costs. Of course, your practice benefits, too, by helping more patients accept your treatment plans.
There is definitely a method to the madness of maximizing dental insurance. It can be a tough job, but there are proven tricks and best practices which make the processes easier than they appear. DeVon Banks dives into an overview of medical claims in the dental office in her training video from DentalHub360.
1. Stay informed.
One of the most important aspects of getting maximal use of dental insurance is staying informed on up to date information. Make it a priority for your practice to stay educated on the most recent dental insurance claims.
For example, in 2018, over 3 million implant cases were performed across the United States with an upwards trend of 500,000 cases over the past few years. This means there is a 6.4 billion dollar implant and prosthetic industry for 2018 alone.
The question is, how can you access that money so you can build a high-profit dental implant practice? Typically, $1,000 to $1,500 on average is all you get from insurance companies on dental plans, if they cover it at all. It is wise to stay up to date on the constantly changing dental plans so that you can optimize your dental insurance.
Be aware of medical reimbursement opportunities for dentists. This will aid both your practice, and your patients who need the procedure. There has been an increase in sleep apnea cases, biopsies, and cancer screenings so how can you keep up with changes and get compensated? Stay informed on which procedures are most likely to be compensated.
2. Look for outside financing opportunities.
In many cases, maximizing dental insurance involves helping patients supplement their insurance with outside financing. Many patients hesitate to move forward with necessary treatment simply because of the out-of-pocket monthly costs. This is why it is necessary to be knowledgeable of all possible payment plans and options.
Some patients will likely need a payment plan in which they can pay over time. Helping patients find financing opportunities to cover out-of-pocket costs can help you better utilize dental insurance. Even if it’s just to cover part of the procedure costs, outside financing helps patients move forward.
3. Communicate with patients.
Lots of patients are in need of procedures but are reluctant to accept treatment because they are unsure of how they will pay. This is where you and your team can step up to the plate.
Be prepared to offer all payment options and plans possible to help your patients be able to afford the treatment. Make it clear you will do what you can to make it affordable, because their health is your top priority. This is why it is important to stay informed with insurance plans so that you can offer up all the information your patients may seek.
The treatment coordinator on your team is tasked with making sure your patients understand the need and process of treatment and how it will get paid for.
Are you ready to maximize dental insurance for your practice?
Dental insurance can be complicated and confusing, but that doesn’t mean you can’t use it as a tool to help more patients move forward with treatment. Use these three tips to start maximizing dental insurance for your practice right away.
If you want to learn more about utilizing insurance well, check out DeVon Bank’s training video from DentalHub360. And don’t forget to join us in the Dental Hub 360 and Trapped in an Op Facebook groups to connect with thousands of other dental professionals supporting each other in achieving their goals.