Since 1954, insurance has accompanied a good percentage of patients to their dental appointments. And for decades, things have gotten progressively worse for clinicians and patients alike. Instead of having patients’ best interests in mind and doctors’ expertise when recommending treatment, insurance gravitates to low-cost procedures and material, looking out for their bottom line. Dwindling reimbursements and dictating treatment options have significant adverse effects on dentists’ production and the overall health of their practice. We’re going to explore various key aspects in which these factors could also be harming your business:
- Financial Strain:
It’s no secret that insurance reimbursements are getting squeezed every year. If you’re dependent on a large population of PPO patients, it’s increasingly challenging to grow, let alone maintain, a profitable practice. How will you cover operating costs, invest in advanced equipment, and maintain your dental offices effectively when your revenue continues to get cut? - Limited Treatment Options:
When insurance companies get involved in making dental decisions, you’ll often find yourself restricted in providing the most appropriate and effective care. Cost containment is often prioritized over patient care resulting in insurance pushing for less expensive or outdated treatment options. What can this result in? Suboptimal treatment outcomes. It’s a lose-lose situation for you and your patient. - Reduced Patient Satisfaction:
Offering limited treatment options leaves patients feeling dissatisfied with the level of care they receive – even though it’s not you calling the shots. Believing their dental needs are not adequately addressed, or they’re not offered the best available treatment options, they may walk or delay treatment. Either decision adversely impacts your production. - Increased Administrative Burden:
Insurance billing is complex, policies are constantly changing, and it’s filled with bureaucratic formalities. It’s a time-consuming hulk of an entity and your time and your staff’s time is better spent focusing on patient care and practice growth.
- Impact on Reputation:
The more limitations imposed on you for treatment options, even if these restrictions are beyond your control, the more you’ll become associated with those limitations. The reputation you worked so hard to build could crack under patient assumptions that you’re the dentist unwilling to provide the best care due to financial considerations. It’s not fair, but it happens. - Discouragement + Burnout:
Financial strain, limited treatment options, and increased administrative burden all lead to stress, discouragement, and burnout among dental professionals, and you’re not the exception. When you feel undervalued and unable to deliver the level of care you trained for, you become less motivated and passionate about your profession, leading to a decrease in productivity and enthusiasm. - Professional Autonomy:
You spent years in dental school and invested hundreds of thousands of dollars to become the expert in all-things related to oral care. Professional autonomy is a huge part of what makes you the best clinician you can be. It allows you to make the most impactful decisions for your patients based on your expertise and knowledge. When restrictions are imposed on what you can do, you’ll feel disempowered and frustrated, leading to a decreased sense of job
satisfaction.
It’s no secret that insurance is getting worse. And while there are dentists who work alongside PPOs, if you’re looking to grow, keep more of what you earn, and want to call the shots for your patients, then it might be time to seriously consider dropping it. This process doesn’t happen overnight but is rather a slow and deliberate replacement of PPO patients with those you want to work with. These patients aren’t insurance-driven and will have you keeping more and making better decisions for them without the restrictions handed down by the insurance middle- man.
Claim Your Freedom From PPOs
The ADA Health Policy Institute (HPI) reports that 1 in 6 dentists is cutting ties with insurance. From increasing revenue to improving the quality of patient care, there are obvious reasons – and so many benefits – for quitting PPOs.
Do you want to break your insurance dependence, but don’t know where to begin? Getting started has never been easier. Learn more and schedule your free demo today.
