The reimbursement market is constantly shifting, and a new report is indicating that decreasing reimbursement rates are on the way. Now is the time to adjust your expectations for the coming year and explore how reimbursement negotiation could ensure that you end up on the better end of the rate adjustments.
Experts Are Projecting Decreasing Reimbursement Rates
Over the course of 2017, dental reimbursement rates dropped 0.7%. However, in the period between May 2018 and May 2019, those same rates are expected to decline a sharp 2.7%. Solo practices are expected to see the biggest hit, with a projected decrease of 8.7% by May 2019. For orthodontists, decreasing reimbursement rates are also expected, with a drop of 4.9% anticipated. However, group practices are projected to receive a 1.6% increase in reimbursement rates through May 2019.
Dentists Are Concerned
A national survey of health care providers found that decreasing reimbursement rates are the top concern among dentists. Almost three-quarters of dentists indicated that lower reimbursement rates are their top concern, including dentists in both group practices and solo practices.
How Can You Counteract Decreasing Reimbursement Rates?
When was the last time your practice contacted any of your PPO partners to discuss reimbursement rates? Many solo and group practices completely ignore the option of contacting PPOs to discuss changing rates, which leaves money on the table every time you see a patient. By partnering with the professionals at APEX Reimbursement Specialists, you can enter into negotiations with PPOs and work to counteract potentially decreasing reimbursement rates.
Can PPO Fee Negotiation Really Make a Difference?
On average, we are able to negotiate increases between 7-12%. With the average decrease sitting below that, your practice could actually experience an increase in your reimbursement rates, not merely avoid decreases. The best way to negotiate fees with PPOs has changed a great deal over the past decade, and it’s no longer as easy as calling an insurance company and discussing an increase over the phone. Instead, it takes a carefully-planned and well-executed strategy for success. Let APEX Reimbursement Specialists put your practice at ease.
Partner with APEX Reimbursement Specialists
The experts at APEX Reimbursement Specialists can help you to explore the best options for your continued growth and sustained success. Contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.