FAQs
These are the most common questions we’re hearing:
Does increasing my fees make a difference if I mainly see insurance-contracted patients?
You may think that you can’t realize these profits due to your participation in managed care plans, but there are many advantages to maintaining a healthy fee schedule. You have private pay and out of network patients; 64% of the population consists of dual income families, leading to dual-coverage opportunities. Well-positioned fees fuel your negotiating power with managed care and raise the fee profile of your area, increasing the chances of higher reimbursements in the future. Lastly, healthy fees make your practice more attractive during transitions. Check out our sample Fee Analysis by zip code.
What do you envision will be trends for technology over the next 3-5 years?
Leaders within the American Dental Association (ADA) and Associate for Dental Support Organizations (ADSO) shared their thoughts about what they envision for the future of dentistry in the next three to five years noting that technology will continue to be a game changer, with greater use of cone-beam computed tomography scans and artificial intelligence that will help practices provide more efficient, patient-centric care. “The use of technology will show the need for ongoing treatments and how it will reduce the costs of healthcare overall,” Smith (ADSO) stated.1 Staffing shortages are expected to continue to plague the dental industry for years to come which will drive the need for technological solutions to provide better care with fewer team members in the future. Reach out to a Burkhart equipment specialist to learn more about how technology can help solve your challenges ensuring your practice goals are reached.
When is the right time to add an Associate?
The first consideration when contemplating an Associate is why you want to add them. Are you no longer able to manage your growing patient base that is reflected in long wait times? Do you want more time off during the year yourself or potentially work fewer days per week? Are you interested in a future transition to sell the practice? There are key performance indicators that can help determine if your practice is viable for an Associate that includes the facility size and usage, number of active patients, annual patient value and evaluation of support systems. The more data you gather, the more comfortable you will be making this decision. Check out our Associate Assessment Readiness Analysis to learn more.
