For longer than I care to admit I was an in-network provider for several PPO insurance plans.
When I was starting out in practice, “in-network” seemed like a pretty good deal. They send us patients and in return, we agree to a small reduction in fee.
As time passed, I realized my cost of doing business and the fees PPOs were willing to pay were growing farther apart. Although they deny it, the PPOs did everything possible to negatively influence treatment recommendations. I could no longer afford to offer uncompromised care while accepting their compromised fees. I made a difficult decision. I planned a slow and methodical exit from PPO participation.
Leaving PPOs wasn’t a move I made lightly, hastily or unprepared. Quite the contrary. Before I gave them any indication I was leaving, I crafted a plan for my exit. It took many months to deploy, but in the end, I was able to keep most of my patients, collect full fee-for-service, and be rid of the insurance companies’ bullying tactics.
Today, some of our colleagues write off upwards of 20%, even 25% of their fees while bearing a 70% practice overhead. Do the math. With poor reimbursement and high practice overhead, it’s almost as if we’re working for the insurance companies.
Is it Even Possible to Dump All of Your PPOs Today?
Although it’s possible, it’s not necessarily the best plan for many practices today. There are many factors to be considered before you simply cut your managed care umbilical cord. If more than 25% of your patients have PPO insurance for which you are in-network, just dumping all the plans could unnecessarily jeopardize your practice.
Whether You Want to Say Goodbye to ALL Your PPOs or Just the Worst, Don’t Miss this Webinar!