Accepting Dental Insurance Is A Bad Bet

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Patient Attraction Episode 1239

– Thanks for watching the Patient Attraction Podcast™.

– I’m Colin Receveur, CEO of SmartBox.

– What’s the first question from your new patient callers?

– Odds are that first question is, “Do you take my insurance?”

– How did dentistry come to this?

– Part of the reason is that wages haven’t kept up with price increases in the industry.

– By one estimate, the costs of dental care have risen twice as fast as inflation.

– Wages following the Great Recession were flat or even decreased.

– So the gap increased between the cost of dental care and patients’ ability to pay.

– Dental insurance fills part of that gap but at a cost to both patients and dental practices.

– How many hours a week does your staff waste dealing with insurance snafus or outright denials?

– How much time do you spend on the phone appealing a denial or correcting an insurance company’s misinformation?

– And what do you get out of accepting dental insurance?

– You get price shoppers and one-and-dones, for the most part.

– You get patients who only want to pay for the care that insurance will cover.

– You get to run between rooms because your schedule is jammed with low-value patients.

– But that’s what you have to do if you’re going to make any money.

– Look, you’re a highly trained, highly skilled doctor of dental surgery or doctor of dental medicine.

– WHY are you living like this?

– Probably because, like most other dentists, you believe this is the way it has to be.

– But it doesn’t have to be this way, and it shouldn’t.

– Let’s change the model.

– In almost every market, there are significant numbers of dental prospects who have the ability and willingness to pay more for the right dentist.

– That number is as high as 30 percent in some markets.

– That’s a huge pool of better dental patients who don’t much care about insurance acceptance or low price.

– Getting a higher number of better patients through your doors can do wonders for your average case value.

– Just ask Mitchel Friedman of Lincroft, New Jersey.

– He had this to say about working with SmartBox:

– “Our case size was $2500 per new patient.

– “Since SmartBox, it has quickly grown to now $3100.”

– And Dr. Thomas Feder of Belleville, Illinois, added this.

– “Our average case value has increased.

– “People are coming in looking for dentures and implants.

– “The practice is now overwhelming our dental lab.”

– What could you do with a 20, 30, or 40 percent bump in your average case value?

– Why, you could work less and earn more than you’re earning now.

– You could quit running from operatory to operatory.

– You could stop the hassle of dealing with insurance companies.

– You could even arrange to have some time away from the practice.

– So, declare your independence from dental insurance.

– SmartBox will help you make that happen.

– We provide a steady stream of better dental patients so our doctors can focus on doing the dentistry.

– Get started by visiting smartboxdentalmarketing.com and reserving your no-cost, no-obligation Practice Discovery Session™.

– It’s a 25-minute phone call that results in a completely personalized Patient Attraction Roadmap™.

– The free, no-obligation Roadmap will give you recommendations for thriving in spite of the competition in your market.

– Use it however you wish.

– There is a path away from depending on dental insurance, and it runs through SmartBox.

– Join me for our next podcast.

– Until then, keep moving forward.