The first mistake I see is letting emotions lead. This can go in either direction, from the doctor who makes a swift decision to drop a network from frustration and anger after seeing all the adjustments made on the year end report to the doctor who is scared that all their patients will leave and so remains in network. In either case, the decision to drop or not is driven by emotion versus objectivity. Looking at the impact on the practice from a fiscal standpoint is the first step to determining when a drop is viable. If the data suggests it would be too risky for the practice to make a drop, then the doctor can determine what steps need to be taken to move in that direction.
The second mistake I see is not having a solid timeline and plan for the drop. Once the decision is made to drop insurance, careful thought on when and how to communicate that decision with patients can be the difference in retaining 20% versus 80% of the patients that are impacted. Creating a plan and properly educating the team on how to support patients through this change can make all the difference in how stressful the drop is for those involved as well as how profitable the practice is following the drop.
And the third mistake I see is paralysis and not doing anything. Even if now isn’t the time, the practice can make changes to their systems, offerings, marketing, etc. that can move the practice toward insurance independence. Doing nothing results in no forward progress toward this freedom. Whether the practice is “ready” in 3 months, 12 months, or 24+ months, steps can be taken now to shorten that timeline. If dropping insurance is the ultimate goal, time is wasted by standing still. And know that you will likely never fully feel “ready.” It’s like any significant change and growth, it lies outside of the comfort zone.
I want to keep inspiring hope to dental teams that it is possible to be reimbursed the full fee for the work you do! It is possible to continue to provide high quality dentistry in the time it takes to do a good job for patients and for the mental health of the doctor. I can help the doctor determine when the right time is, develop a timeline, and prepare the doctor and the team emotionally for the drop! You don’t have to live on a hamster wheel your whole career. Having a guide and a plan for the path toward insurance liberation keeps the practice moving step by step, closer each day. As you set goals for the next quarter and even next year, determine what you want and what is best for the practice and be brave enough to make decisions that make that goal a reality!
