One of the challenges of having your own dental office is getting good rates from Preferred Provider Organizations (PPO). These are groups of healthcare providers offering services to clients of insurance companies at lower costs. Joining a PPO offers many opportunities and benefits. There are times, however, when these firms offer very low rates to dental professionals. When you feel that you deserve a higher rate, learn to negotiate with PPOs.
Here are some tips on increasing your dental insurance reimbursements:
Find Out Your Insurer’s Fee Schedules
Insurers follow a fee schedule to determine the proper rate to give to dental professionals. When deciding on a dentist’s reimbursements for insurance, companies determine whether the service provider is in a Metropolitan Statistical Area (MSA) or a Non-metropolitan statistical area. When you’re working about twenty-five miles away from the nearest metro area, you’re in anon-metropolitan statistical area. To fall in this category, you should be serving less than twenty-five thousand residents. According to experts, some insurance firms pay 25% more for Non-MSA dentists.
When you know the category you’re in and believe you’re not getting the rate you deserve, you’ll have more reasons to ask for better rates.
Reassess Your Services
Before requesting for better rates, reassess your profile and services. Evaluating your dental office will let you know of its strengths and weaknesses. A reassessment also gives you a more realistic view of your practice. When you know where your dental office stands, you can decide how much of an increase you should ask from insurers. Improve the weak points of your practice prior to requesting for a higher rate.
When speaking with PPOs, present documents and other related information that will convince them that they should increase your rate.
Hire Third-party Negotiators
In dealing with insurance companies, hire the services of a negotiator. Apart from getting higher reimbursement rates, a third-party negotiator can help you add other services you can offer. This can expand your practice and allow you to get more of your PPO membership.
Don’t settle for low reimbursement fees. Increase your income by giving insurance companies reasons to increase your service rates.