As the New Year begins, there are several activities that your dental practice needs to complete to ensure a financially successful year. Updating your usual, customary and reasonable fees (UCR fees) as the new year begins is incredibly important.
UCR Fees: A Refresher
Usual, customary and reasonable fees are set by insurance providers for all dental procedures. They are set by geographic region, so depending on the zip code for your practice, they may be significantly higher or lower than the surrounding area. While these fees were initially intended to reflect the dental market of the area, they are often left unchanged for years at a time and outdated.
Why Is Updating UCR Fees Important?
Reviewing your UCR fee schedule is a great way to see how your dental practice stacks up against your peers and the market as a whole. By reevaluating where you stand, you can make price adjustments. At APEX Reimbursement Specialists, we never want clients to leave money on the table by charging 10% or 20% less for common procedures than your competitors.
UCR fees also allow you to develop, along with the help of APEX, a clear strategy of how to begin negotiating with PPOs to optimize your fee schedules.
Once You’ve Updated Your UCR Fees
Once you’ve taken the time to update your UCR fees, you should revisit your reimbursement rates with the help of APEX Reimbursement Specialists. We work with dentists every day to increase reimbursement levels and practice revenue. If you want to learn more about how PPO fee negotiation works and see how APEX can help your practice exceed your new year’s goals, contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.