Dental PPO’s Will Drive You Out of Business
Significant changes are underway in the dental marketplace as a result of the novel coronavirus. The ADA Health Policy Institute is forecasting a 2/3 decline in dental spending in the next year. This is coupled with increased costs for PPE and decreased capacity to see patients due to social distancing and new infection control procedures.
The economics associated with PPO’s likely mean many of the procedures you perform will cost you more than you will receive in payments. Do you have the ability to set fair rates of reimbursement when you participate with a PPO? How long will you be able to continue practicing when you are losing money on procedures?
With many traditional dental insurance companies retaining 40 percent or more of patient premiums, now is the time to consider a new economic model, an in-office subscription. A subscription service allows you to capitalize on the inefficiencies of traditional insurance by increasing your income and serving your patients’ needs.
With an in-office dental subscription, you are in control of the fees you charge.
Now is the time to talk to your patients about the need for quality care. Discussing with your patients your decision to become an unrestricted provider of dental services and offering a dental subscription allows you to be able to provide your patients with a valuable tool to afford the dental care they want and need.