The dynamic between the rise of insurance and the increasing cost of dentistry the main reason why multi-practice dental organizations are dominating the industry. Their acceptance of insurance has resulted in the ability to capture the bulk of patients.
Being credentialed with insurance companies and discount programs allows you to compete more fairly in the industry and attract more patients.
In addition, insurance credentialing is the most inexpensive, high-yield marketing opportunity for any dentist out there. Your enrollment in these networks privileges you to advertisement on the insurance website and an opportunity to be selected by network patients. Network participation allows you save thousands of dollars in marketing while increasing your patient base.
Finally, credentialing grows your practice through patient referrals. A satisfied patient visiting your practice will not only share his or her experience to friends and co-workers, he or she will also share that you accept their insurance or discount program.
From start to finish, it can take more than 40 hours plus to complete the credentialing process for the common insurance companies. Isn’t that time best reserved for patients, training your staff on patient care and generating revenue? A single hour of paperwork could have been a crown!
Finally, we are experienced in the credentialing process. Our team has experience with major and minor insurance, discount and even state funded plans. Why not let us do the heavy lifting for you? If you have done it before, you know the challenge.
Participation maximization is the strategy utilized by most large-scale dental organization, but it is just as valuable to small practices looking to stay relevant and competitive. It is especially valuable to the new dentist looking to quickly improve cash flow without the expense of traditional marketing.
Further, maximizing participation allows you to keep patients because employers often switch plans from year to year. Thus, you do not lose the patient whose employer switched from Delta to Metlife during the enrollment period.
Insurance fee schedule are not as static as people often believe. Many insurance companies are willing to negotiate a fee schedule with a provider. Factors such as location and simple negotiation skills are considered in adjusting fees. Fee negotiation can result in more desirable fees and improve your bottom line by thousands.
At Dentsential, we utilize our experience in strategic fee negotiation to seek out the best possible fees for your practice. Not all plans negotiate, but many are willing.