Insurance Maximization Program
Timescale: Over 2-6 months
Dental practices that participate with dental insurance companies may not know that reimbursements for services rendered may be negotiated. Every extra dollar negotiated, adds to the practices bottom line. In a one-million-dollar practice, a 10% increase could mean an extra $100,000 dollars for your dental practice.
Our team of dental business professionals have assisted many dental practices in maximizing their insurance compensation. The days of calling an insurance company and getting a 3 to 5% increase is ineffective. Dentist tell us, “You can’t negotiate fees anymore”. The fact of the matter is, that it is possible to negotiate fees successfully, however it requires a certain set of unique skills, data analysis, and a system that most dental offices do not have the resources or time to implement.
A dental office that simply calls an insurance company and asks for a “better fee” does not understand that without factual data, that call will not give the practice the outcome they desire. That call would unfortunately be considered a“failed” negotiation” endeavor.
Allow us to review one of our real-life scenarios. We have an office that wants to expand the dental practice and bring in a dental associate. The dentist who owned the practice said, “I think I should get help to make sure I do things right”, and in doing so hired KLAS Solutions. Our team completed a Practice Assessment. It covered all of the Doctor’s concerns providing him with valuable information to make informed strategic decisions on. One of the many results of the assessment was that that his insurance fees were low.
We told him about the “Insurance Maximization Program”, and following implementation, our team of practice management specialists began to increase his insurance compensation. We were able to find ways to raise over 25 of his dental codes. Our negotiations allowed him to receive over $50,000 of higher fees each year. In 2 years we will again review the situation to renegotiate and implement our services.
Our Insurance Maximization Program was just one part of the solution of services and systems that we implemented in his practice. The Doctor’s practice is now expanding and he is prepared to bring on his new associate, so that he can refocus on other areas of his lifestyle.
If negotiating fees with insurance companies seems difficult and daunting,you are correct…it can very well be! If you want to increase your insurance fees, but don’t want the stress and challenge of negotiating, allow KLAS Solutions to implement our Insurance Maximization Program and reap the rewards for you, of receiving the highest fees you deserve.
We welcome you to contact us today to learn more about how we can help you with your insurance maximization.