by: Donna Rosebush Practice Management Consultant
Kick off 2017 by taking charge of your profitability! Act today and save $300 by taking advantage of the following valuable special offer before April 30, 2017.
Ideally, I recommend to each of our clients that they review their fees at least once per year, preferably in the same month each year. Since 2017 is a new beginning, it is a great time to initiate new fees. Staff reviews are often conducted around the first of the year. Although wage increases should always be based on merit, rather than mere longevity. It is always easier to fund well earned increases at the same time production and collections are also on the rise.
We are astutely aware that the insurance companies are not looking for ways to overcompensate the practice. They wait to increase your reimbursement level until you actually ask for it by submitting higher fees. It used to be that many of the insurance companies would base their “UCR” (usual and customary reimbursement) on the 80th percentile. They would eliminate the top 20% of submitted fees and payout based on those dentists in the top 80%. We are now finding that the reimbursement level is determined closer to the 70th percentile. So what happens if you hold off on adjusting your fees for two or more years? Your vendors are keeping up with inflation without regard to your personal aversion to raising your fees. Do you know where your fees rank? Is it possible that the dentist next door is being reimbursed at a higher level by the same insurance company? Is it feasible that your reimbursement is being stifled because you fail to increase your fees due to a misguided understanding that once you reach that magic number where the insurance company no longer pays your full fee you believe that you finally broke their “code” and forever more leave your fee set there? The truth is that other than the PPO contracts that provide you with a set fee schedule, most other companies raise or lower your reimbursement based on the fees that you submit. If you are not writing off a significant amount (up to 20%), chances are you are stifling your own reimbursement.
Is your recare retention ratio at 85% or above as evidenced by the number of periodic exams being billed? Are you coding and billing properly for the periodontal procedures being performed by your hygiene team? Are you properly coding Palliative Treatment instead of Limited Focused Emergency Exams? Are you adequately tapping into the opportunity to provide a higher standard of care by offering Adult Fluoride, Sealants, Occlusal Analysis and Guards, or cosmetic dentistry? And are you realistically aware of how much money you may be leaving on the table by not knowledgably aligning your fees? Proper coding and well aligned fees result in higher reimbursement and evidence of higher standards of patient care, while adding potentially hundreds of thousands of dollars to the bottom line.
Most importantly, if you find reviewing and adjusting your fees to be a time consuming, frustrating exercise of uncertainty that you avoid at all costs, do not turn your back on the process. Delegate the process by hiring an expert that can help you navigate your way to a healthier income. You deserve to be properly compensated for the great work that you do!
The DBS Companies care about all of our clients and pride ourselves in leading the industry in raising both our clients’ awareness and profitability. We believe so strongly in the benefits of fee analysis that we want to offer you the following:
Special Offer: Have your fees balanced and ADA code usage analyzed at a onetime special fee of $1,200 (20% off of the standard $1,500 fee for anyone taking advantage of this offer prior to April 30, 2017)! Is there any reason you would not in- vest $1,200 in order to add $100,000 or more to your annual bottom line?
If you choose to take advantage of this valuable offer, you will be given a color coded spreadsheet outlining specific recommendations for each fee. With the aid of your dental software’s Production Summary Report, I will also provide you with a detailed written frequency analysis. This valuable aspect of the reporting process reviews the number of times each procedure code was (or was not) performed over the year and the level of production generated by each code. This in-depth study and written report results in recommendations based on hundreds of other practices and national benchmarks, while spotting and outlining any untapped potential that may have gone unnoticed in your practice. Also, up to a one hour coaching session to review the fees and ADA code usage recommendations (either in our office or via a visual teleconference) is included in this special pricing package.
Do not Wait–Schedules will fill Quickly! Prior to April 30th please:
- Call Kelley Kelly 800-327-2377 (extension 132) or email her at email@example.com to schedule your appointment.
- Provide your current office fee schedule, your dental software Production Summary Report for the past 12 months, and your actual Active Patient Count.
- Fee surveys will be compiled and analyzed on a first come first served basis. Call today to reserve your place in the schedule.