Dental insurance is something that many people have in order to offset the cost of their dental care. However, while insurance coverage may do wonders for patients, it isn’t the most lucrative way for dentists to earn money. This is why, if you, as a dentist, term your participation with insurance companies can help you save your practice.
How? Let’s see.
Dental procedures vary from low in cost to very expensive, depending on what kind of treatment is required. People with severe dental problems come for intricate procedures that require skill, time, and effort. If your procedures are covered under your patient’s insurance plan, such time-taking treatments will most likely be reimbursed at a much lower cost. Terming your participation with an insurance company will allow you, the dentist, to charge your full office fee rather than discounting it to a lower contractual rate. This, in turn, will allow you to charge what the procedure’s worth, being rightly compensated for your time and effort.
When your patients have dental insurance, they benefit from seeing an in-network provider, as the dentist has agreed to a lower cost for their procedures. This makes the out-of-pocket expense to your patients lower. However, this is where you, as the dentist, suffer, as you will not be earning as much as you should. If you aren’t contracted with an insurance company, you are able to charge the patient your full office fee and earn exactly what your skilled treatments cost. This will, in turn, make you feel more motivated to perform, as you will know that you are rightly compensated for your skill, time, and effort. As a dental professional, it’s important that you are highly motivated, as this will ensure that you provide your patients with the best care.
CTC Associates has been in the business for a long time with years of experience and many pieces of advice to ensure that your business is profitable and is running smoothly. The dental brokers at CTC Associates are highly well-versed and well-informed on such workplace areas.