Episode #294: How do I stay profitable after dropping PPO Plans?

  1. May 30, 2024
In this episode, the hosts explore strategies for maintaining profitability after dropping PPO plans. They emphasize the dual approach of increasing revenues and decreasing expenses, noting that eliminating the high overhead of PPO adjustments is crucial.
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In this episode of The Less Insurance Dependence Podcast, Gary Takacs and Naren Arulrajah explore strategies for maintaining profitability after dropping PPO plans. They emphasize the dual approach of increasing revenues and decreasing expenses, noting that eliminating the high overhead of PPO adjustments is crucial.

Gary advises focusing on building a strong hygiene department, incorporating high-value services like adult orthodontics, cosmetic dentistry, and dental implants, and using oral conscious sedation to boost treatment acceptance. He also highlights the importance of effective marketing, maximizing the use of auxiliary team members, and improving case presentation skills to increase daily production.

The episode concludes with a discussion of the most profitable elective procedures, such as dental implants, adult orthodontics, and smile design. These services not only generate high revenue but also meet patient demands for comprehensive care. The hosts underline that with the right strategies, practices can successfully transition away from PPO plans and achieve greater profitability.

5 Easy strategies for a better dental practice in 2024 beyond
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Episode Timestamps

  • 00:50 – Introduction to “The Less Insurance Dependence” podcast.
  • 01:20 – Introduction to the topic: “Can Your Practice Truly Survive Without Insurance?”
  • 04:31 – Answer for the first question; Is it better to increase revenues or decrease expenses as a way of controlling overhead?
  • 06:40 – Answer for the second question: What steps would you take to produce a million dollars per year or more in your practice?
  • 10:53 – Announcement regarding a Master Class; Title:  Creating a Relationship Driven Practice, Date: 16th of July 2024, Time: 08:00 – 10:00 PM ET.
  • 12:10 – Answer the third question; how to increase revenue when I as a solo dentist already collect 1.3 million per year and how do I go from $5000 a day to $8000 a day in doctor production?[19:50] – Answer for the fourth question; how do I go from $5000 a day to $8000 a day in doctor production?

Resources

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

Register for the upcoming Master Class!

Gary Takacs

Gary Takacs One of Gary's most significant achievements as a dental practice management coach is transforming his own practice, LifeSmiles, from one that was infected with PPO plans, no effective marketing strategy, and an overhead of 80% to a very successful dental practice that is currently one of the top-performing practices in the US.

With over 2,200 coaching clients, Gary has first-hand experience transforming insurance-dependent practices into thriving and profitable practices.

Through his Personalized Coaching Program, Gary shares access to the systems, strategies, processes, and experience gained over 41 years of coaching dentists and transforming over 2200 practices worldwide.

Learn More: www.thrivingdentist.com/coaching/
Connect with Gary Takacs on Linkedin

Naren Arulrajah

Naren ArulrajahAs CEO of Ekwa Marketing, Naren has over a decade of experience working with dental practices and helping them attract the ideal type of patients to their practices. It is his goal to help dentists do more of the type of dentistry they love with the help and support of effective digital marketing.

Ekwa’s "Done-For-You" Digital Marketing model blends fundamental persuasion principles with an all-in-one Digital Marketing solution to help your ideal patients find you and choose you for reasons other than being on their insurance plan.

If you’re interested in finding out if Ekwa is the right fit for you and your practice, book a Free Marketing Strategy Meeting with Ekwa’s Marketing Director, Lila Stone.

Book Free Marketing Strategy Meeting: www.lessinsurancedependence.com/marketing-strategy-meeting/

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