Episode #306: Negotiated Fee Schedules – Truth or Fiction?

  1. August 22, 2024
In this episode, the hosts discuss "Negotiated Fee Schedules: Truth or Fiction." Historically, until around 2011 or 2012, dentists had some success negotiating fees with PPO plans. However, in recent years, insurance companies have largely stopped negotiating fees, leaving dentists with limited options.
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In this episode of the Less Insurance Dependence Podcast, Gary Takacs and Naren Arulrajah discuss “Negotiated Fee Schedules: Truth or Fiction.” 

Historically, until around 2011 or 2012, dentists had some success negotiating fees with PPO plans. However, in recent years, insurance companies have largely stopped negotiating fees, leaving dentists with limited options. Gary explains that while insurance companies generally refuse to negotiate when asked directly, there has been a recent shift. In some cases, after a dentist resigns from a PPO plan, the insurance company might reach out with an offer to renegotiate the fee schedule in an attempt to retain the dentist within their network.

 The key takeaway is that while negotiated fee schedules can be a reality, they require persistence, strategic resignation, and careful consideration. Gary advises dentists to be cautious and prepared to follow through with their resignation if negotiations do not yield acceptable results, highlighting that this approach is not one to be taken lightly.

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Episode Timestamps

  • 01:18 – Introduction to the topic: ” Negotiated Fee Schedules – Truth or Fiction?”
  • 01:25 – Announcement regarding the event; Date: September 10, 2024
    Topic: How to Use Hygiene to Create a Thriving Practice
    Registration: ThrivingDentist.com/webinar
  • 04:18 – Announcement regarding Thriving Dentist Live Workshop in Austin, TX, on November 9, 2024! Registration: ThrivingDentist.com/Austin 
  • 05:51 – The history of Negotiating fee schedules
  • 09:49 – Discussion on the Insurance companies raising their fees
  • 13:09 – Evaluation of the discount percentage in the negotiated fee schedule
  • 16:43 – Invitation to book a Coaching Strategy Meeting

Resources

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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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