In this episode, Ben and Tessina discuss strategies for dental practices negotiating with insurance companies. They highlight that many doctors are going out of network, prompting insurance carriers to try to retain providers by raising fees or profiling practices. Tessina emphasizes that insurance companies need dentists more than vice versa and suggests that threatening to terminate contracts can be effective again. They explore the use of umbrella networks to improve fee schedules, benefiting both fee-for-service and heavily insured practices. Finally, they offer tips for new practice owners, advising them to conduct insurance due diligence early and consider strategic participation to maximize revenue.
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Time stamps
- 00:02:33 – The insurance industry is very desperate to retain providers. How can you use that knowledge to affect negotiations with insurance companies?
- 00:05:57 – Is threatening to terminate something you should consider while negotiating with insurance?
- 00:12:59 – How can umbrella network strategies help practices?
- 00:18:18 – What should you look out for as a new practice owner coming into a new practice ownership?
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