29 Jan Dental Insurance: The Tide Has Turned
In today’s current dental economy, dentists are becoming increasingly frustrated by decreases in reimbursements. Are you starting to feel the pinch? If you are, you’re not alone. From a concerned dentist in the northwest whose major carrier reduced their reimbursements by 15% to a distressed oral surgeon on the east coast who’ll no longer be reimbursed separately for anesthesia fees, decreases in reimbursements are being felt all across the dental profession.
The frustration is perfectly understandable. These cuts affect practice revenue, which translates directly to reduced doctor income. Unfortunately, this insurance trend will continue. Insurers looking to increase profits believe that they can lower reimbursements without doctors dropping out of programs.
The solution for dentists? Dental practices will need to treat a higher volume of patients more efficiently to keep revenue at current levels. Dental Business Study Clubs members have continually demonstrated that practices have a 20–30% growth potential in revenue without increasing fixed expenses. However, dentists will have to take a different approach to daily management and operations. The staff will have to be retrained, and doctors will need to spend more time focusing on patient treatment. With insurance reimbursements continuing to drop, now is the time to overhaul your systems and transform your practice into a real-world business.