Most dental practices work with preferred provider organizations or PPOs to provide care to their patients. While PPOs do cover a sizeable number of patients in communities across the country, some dentists explore moving to a third-party network to access even more patients. What are some of the risks and rewards of working with a third-party network?
What Are Third-Party Networks?
First, it’s important to understand exactly what third-party networks are. A third-party dental network allows you access to a broad potential base of patients. Once you finish moving to a third-party network, you will be suggested to patients who are part of the network as a dentist who accepts their plan. Because you are proactively being offered to patients, you can expect to see an increase in patients. Just like traditional PPOs, you will be expected to complete a credentialing process and a recredentialing process at regular intervals.
Access to Patients
One of the many risks and rewards of moving to a third-party network is access to patients. When exploring your options, you should ask about the size of the network locally. Are there many other dentists in the area who are also part of this third-party network? Are there other doctors who are part of the third-party network? Are any local companies offering benefits through the network? It might be counterintuitive, but having many other local healthcare practitioners in the third-party network can be a good thing, as the chances of patients being enticed to enroll are higher.
Access to Other PPOs
Network-sharing is another concept that you might encounter as you explore moving to a third-party network. In network-sharing, a PPO might share their base of healthcare providers or dentists with other (or numerous) PPOs. All of the patients enrolled in that PPO will then be able to also visit doctors and dentists who are enrolled with other PPOs without switching their insurance coverage. Many dentists enjoy this aspect of PPO enrollment, as it can give them the reach of moving to a third-party network without the need to worry about setting things up from scratch.
Access to More Work
One of the primary risks of moving to a third-party network is an increase in work for your staff. When you are managing multiple networks, it can easily become overwhelming to help your patients access their insurance benefits. Working with APEX Reimbursement Specialists is one way to streamline the billing and administrative processes. However, you should still think carefully before you take the plunge.
Protect Your Business with APEX Reimbursement Specialists
Whether you’re interested in revenue optimization or looking for other services to boost your business, APEX Reimbursement Specialists is here to help. Contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.