Season 2 - Episode 4
Dropping insurance participation is a decision that causes many doctors to have some anxiety. The tendency can be to rush things because you’re ticked off, or to avoid doing it out of fear of patient attrition.
The good news is that unlike buying a practice or building a new facility, dropping insurance is a reversible decision. You can always go back. But if you’re strategic about it, there are few things you can do to add more independence and more to your bottom line.
In part 2 of our conversation with Bill Rossi, we discuss what you can expect regarding timeline, attrition and increases in your income. We also get into how to involve your staff and how to message the insurance changes to your patients.
Bill is the country’s leading expert on PPO decisions and transitions. PPO decisions must be made in the context of the practice’s realities. Bill has over 35 years of experience in advising dental practices. For the past 20 years, he has helped many dentists strategically and safely cut back on their PPO participation. This has added substantially to their bottom lines and their practice independence.
Questions answered on this episode:
- What is the average timeline for dropping insurance plans?
- How important is it to involve the office staff in this process?
- What things should the front office consider when dialoguing insurance participation changes with patients?
- What on average can an office expect with attrition?
- What on average can an office expect with an increase in income?
For more on PPO negotiations and “PPO Plays'' you can run, visit: advancedpracticemanagement.com. Bill Rossi can be reached at 952-921-3360 for an informal, 20-30 minute conversation. His email is: brossi.apm@gmail.com
For help transitioning your practice to new ownership, contact Marie Chatterley at: ctc-associates.com
Find a dental practice transition specialist in your area by sending a message to: office@longinthetooth.info
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Long in the Tooth is hosted by Randon Jenson & Marie Chatterley of CTC Associates. It was founded by Bob Brooks, CBI, CEPA of Practice Endeavors.