In this episode, Gary deeply dives into why dental practices should consider resigning from their current insurance provider to better care for their patients.
This episode also features a financial tip from Nate Williams on, Why the tortoise always beats the hare.
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Gary discusses the limitations and restrictions that insurance providers often impose on dental treatments and procedures and how this can negatively impact patient care. He also shares takeaways from a message from Dr. Josh Bernstein on why resigning from PPO plans helps you take better care of your patients.
Tune into the episode to find out the compelling reason why you need to quit your current insurance provider to benefit your patients and your practice greatly.
Timestamps
Today’s Financial Tip
- 00:03:25 – Nate Williams on Why a tortoise always beats the hare
Coaching In Action
- 00:09:03 – How does resigning from PPO plans help your patients?
- 00:13:41 – A question to the listeners of this episode from Gary.
Takeaways from Dr. Josh Bernstein’s Message
- 00:14:25 – Take Away Number 1
- 00:18:11 – Take Away Number 2
- 00:20:40 – Take Away Number 3
- 00:22:44 – Take Away Number 4
- 00:25:43 – Take Away Number 5
Q&A Segment
- 00:28:40 – Question 1 – Dr. Bernstein’s message really hit home for me! Where should I start?
- 00:31:17 – Question 2 – I did some research in my practice and sadly, I discovered that 80% of my patients are PPO Patients. Is it possible to become a Fee-For-Service practice when I currently have such a high percentage of PPO Patients?
- 00:33:14 – Question 3 – My practice is predominantly a PPO practice. Would I be better off just selling my current practice and then buying a Fee-For-Service Practice?
- 00:36:00 – Question 4 – I truly believe that I have a very good Team. We have begun discussing dropping PPO Plans in my practice and I am getting resistance from the Team. I think this resistance comes from the fact that most of my team members have been with my practice for a long time and working in a PPO Practice is all they know. How can I shift their perspective and get their support?
Resources
Gary Takacs
Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe. As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.
More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!