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Patient Attraction Episode 1171
When it comes to necessary evils, dental insurance is high up on the list. That’s not to say that dental insurance is bad – it allows many patients to get care that they might not be able to afford otherwise. But insurance is the bane of many dental practices, tying up too much staff time, producing too much frustration, and acting as a limiting factor on the care that patients can receive. Here’s the question, though: Do dentists really have to accept insurance? I’ll be back after the break to provide the definitive answer. Stay tuned.
– 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.