Episode #316: Is A Hybrid Practice the Right Model for You?

  1. October 31, 2024
In this episode, you’ll be able to explore the concept of a hybrid dental practice model. They begin by discussing the definition of a hybrid model, which involves a mix of participating in some PPO insurance plans while also offering fee-for-service care.
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In this episode of the Less Insurance Dependence podcast, Gary Takacs and Naren Arulrajah explore the concept of a hybrid dental practice model. They begin by discussing the definition of a hybrid model, which involves a mix of participating in some PPO insurance plans while also offering fee-for-service care. For many dental practices, the journey to a fully fee-for-service model may seem daunting, especially since around 90-95% of U.S. dentists are in-network with PPO plans. For these practices, transitioning to a hybrid model can serve as a stepping stone, allowing them to gradually reduce insurance dependence without fully stepping away from PPOs. The hybrid model can be a viable long-term strategy for practices wanting to balance PPO participation with fee-for-service offerings. It provides an opportunity to improve profitability and patient care gradually while maintaining some level of insurance participation when necessary.

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Episode Timestamps

  • 01:21 – Is A Hybrid Practice the Right Model for You?
  • 01:31 – Live event announcement: Thriving Dentist Live Workshop in Austin, Texas. Topic: Grow Your Practice To Full Potential And Achieve An Effective Work-life Balance! The Blueprint to kickstart your year in 2025 February 1st, Time 9- to 5 pm, Location – City of Austin, TX, Register www.thrivingdentist.com/austin/
  • 04:55 – What is a hybrid practice model?
  • 09:12 – Negotiated fee schedule.
  • 13:24 – Resigning from insurance plans except from Delta.
  • 15:01 – Having a backup plan when resigning from the PPO plan.
  • 19:27 – Invitation for Marketing Strategy Meeting.
  • 20:06 – Invitation for Coaching Strategy Meeting.

Resources

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

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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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