Thinking about dropping a dental insurance plan? Our advice is to follow an analytical method so that your practice does not make a mistake. Keep in mind that making a blanket decision and lumping all insurance plans into one bucket is not the best strategy. Each insurance plan should be individually evaluated.
List your plans in order of highest production and collection to lowest. It is important to know exactly how much revenue is coming from each plan, including the patient co-payments.
Don’t be hasty. Never eliminate a plan until you understand how you can recapture that level of practice revenue so that you are always working to increase overall practice production for stability and future growth.
Dr. Roger P. Levin is CEO of Levin Group, a leading practice management and marketing consulting firm. To contact him or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit LevinGroup.com or email [email protected].
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
