Three things in life are certain — death, taxes, and insurance. Insurance? Yes — if you don’t know how to ban it, it will find a cozy spot in the corner of your office, plunk itself down, and refuse to leave. The harder you work, the more it takes. It will scratch away at your profits patient by patient. And its hunger only grows larger.
It’s no secret that the insurance is bent on sinking its ugly teeth into your profit, favoring its shareholders’ bottom line. Your wealth is a buffet that provides never-ending financial nutrition. Who wouldn’t want to keep that going?
You are under attack from all directions, and it’s time to slay the beast. But how do you know if your practice is ready to drop insurance for good? Here are 3 proofs you can survive without it:
Your cash flow is too tight, and you’re too busy working on average cases to focus on the patients you really want.
There’s no room for hygiene. If you’re booked out 7-11 months, it’s clear you havecontrol of your practice and can call the shots moving forward.
You’re giving away restorative slots to PPO patients that aren’t wanting to get healthy. Focus on your fee-for-service patients and do not give away their reserved times.
Removing the greedy tyrant taking up space in your practice isn’t for the faint of heart. It’s critical to understand that banning the insurance beast is a process, not a single event. The transition demands you keep production high and minimize unnecessary risks. You need smart planning, dedicated implementation of that plan, and the grit to see it through. Over time, the beast will be fed less and less until one day, it gets up and leaves because the free handouts are gone.
Dumping insurance happens when you attract patients who aren’t PPO-dependent. They have discretionary funds and don’t “shop around” for the best deal in town. They know what they want, and they know you’re the one to go to — because you’ve told them through uniquely designed marketing.
For years, Amplify360 has successfully helped dentists ban insurance from their practices. Our dentists command top rates and are keeping more of what they’ve earned. They’ve beaten the beast. And so can you.
If you’ve considered dropping insurance, but you’re not sure where to begin, feel free to grab our free resource Busting Out of the PPO Prison and slay the beast for good.