2 Ways to Increase PPO RevenueJuly 22, 2015 | Category Coding and Insurance, Practice Management
Whether you are a start-up practice, single dentist practice, or part of a large dental corporation, your PPO insurance contracts impact your ability to generate revenue. Being in-network with PPO insurance means you agreed to discount your established office fees when you provide covered services to PPO insured patients. The discounted rates are determined by the insurance company and/or employer group and are set forth in PPO fee schedules. With the cost of business rising each year, and your fee schedule reimbursements remaining low, your margins can shrink.
In short, if your PPO reimbursements remain static and your overhead continues to increase, your net profit decreases. The best solution to this problem is often found in revenue growth, not necessarily in cutting expenses.
Here are two ways to grow revenue within your PPO contracted practice:
- Adjust your office fees to a competitive level, and then
- Negotiate your Fee Schedule Reimbursements.
Unitas Dental is an affordable outsourced solution for managing PPO Insurance contracts. Unitas believes office fees should reflect the cost of doing business in your particular geographic area. By analyzing your local area, Unitas Dental attempts to determine a competitive range at which you can consider setting your office fees.
Unitas has found that healthy office fees correlate to higher PPO fee schedule reimbursements. Unitas can facilitate an honest and fair fee schedule negotiation with insurance companies on your behalf. By focusing on your top grossing procedures, successful negotiations can result in maximum revenue gains. Though our ability to negotiate varies on multiple factors, successful negotiations with even one of your PPO insurance contracts can result in a significant increase to your revenue.
By negotiating higher fee schedule reimbursements, Unitas can help increase your bottom line. This is done without change to your culture, patient volume, or staffing levels.
To find out how Unitas Dental may help increase your practice’s revenue, request a free consultation.