In the current economic climate, should your office participate in one or more dental insurance plans, or can you afford to focus only on fee-for-service patients?
That's the question practice management consultant Linda Miles tackles in the latest episode of "15 Minutes to Excellence."
Dental insurance can be a frustrating topic for dentists, dental team members, and patients alike, Linda notes. In a candid video chat with DrBicuspid.com Editor-in-Chief Kathy Kincade, she shares her thoughts on why she changed her stance on fee-for-service-only practices, what you need to know if you are going to participate in multiple insurance plans, and how you can use dental insurance to help grow your practice.
"In the 1980s and '90s I encouraged doctors to drop insurance plans, especially those that did not have a very good reimbursement plan for the patients," she said. "But in the 2000s, I completely changed my stance because I saw too many practices struggling as the economy began to change. These days, the first question most patients ask is 'Do you accept my insurance plan?' I look at insurance, especially some of the better plans, as your marketing budget."
Having been a dental practice management consultant for three decades, Linda is the founder of Linda Miles & Associates (now Miles Global) and a popular international lecturer and author. These days she is also involved in the Speaking Consulting Network, Oral Cancer Cause Foundation, EPIC I and EPIC II, and AskLindaMiles.com.
Watch this episode of "15 Minutes to Excellence" and hear more of Linda's great team-building advice and practice management tips. The video is free to all DrBicuspid.com members.