Did you know you can negotiate fee reimbursement rates with an insurance company as a dental service provider? You can and you should! Negotiated fees are fees a dentist who is “in-network” agrees to accept as payment for services provided to the patient, less co-payments, deductibles, cost sharing and benefit maximums. Insurance companies do not […]
Read MoreDental negotiations
Steps to Implementing Standard Operating Procedures (SOPs)
Whether in writing or digital format, Standard Operating Procedures (SOPs) should be utilized as a part of your personnel management process now more than ever dealing with a post-pandemic labor force. They are not just policies to be followed in the dental practice; they are the actual steps to be followed consistently to accomplish certain tasks […]
Read MoreHave You Considered Being In-Network?
The term “in-network” is defined as health care facilities – hospitals, doctors, dentists, specialists, pharmacies – that have an agreement with insurance companies to provide medical care to their insured members at a discounted rate. The rate is agreed upon by the health care provider. Patients will typically pay less with an in-network provider. At […]
Read MoreWhat Dentists Should Know About PPO Re-Negotiation
If you decide to become an in-network (PPO) provider, from the very beginning it is of utmost importance to negotiate contract fees. Keep a record of your contract dates to be proactive in having the ability to re-negotiate your contracts. Most contracts for fees have a term of 18-24 months. In order to maintain your bargaining […]
Read MoreShould You Hire a Negotiator?
A part of the job the dentist may not have considered when opening a dental practice is dealing with insurance companies. As a matter of fact, it is one of the particularly stressful things the office deals with; but it is so very necessary. Dentists are in the business to make money and insurance companies […]
Read More10 Tips for Private Equity Stockholders and DSOs to Optimize PPO
Insurance negotiations and credentialing are essential parts of maintaining a dental practice. To have the most profit, negotiations for fee schedules will need to be done regularly and by someone who is trained and familiar with the processes. Providers credentialed with a variety of insurance will benefit from the most patient flow and retention. Let’s […]
Read More