Many dentists are concerned about the cost of PPE and the impact on profitability. Thus, the question, what are insurance companies going to do to help share the cost.Delta Dental of CT/NJ has offered temporary assistance as follows. We’ll continue to keep you posted as we hear more.However, before we go looking for relief, let’s answer four basic questions.
Once you have calculated those costs, understand these as a percentage of daily collections. Here is an example:
My back of the napkin math turns out to be about 4% of daily production for an assistant. Start with this template (under the picture above) to add additional costs and staffing for your practice. Most examples I tinkered with will increase costs 6-10%.
Knowing this, we can begin to think about how to re-capture these dollars or what amount of this your practice will absorb.
Finally…looking on the bright side, these supply costs will come down as the supply and demand curve re-balance.
Dental providers affected by COVID have a number of resources available to support their successful re-opening. CARES Act monies are available through August 3, 2020.
Join Five Lakes Founder and President Nick Partridge as he discusses what to do now that you've submitted your PPO termination letter.
Five Lakes PPO negotiations are an important part of a comprehensive PPO participation strategy. Our unique 20-point process has yieled successful results to thousands of dental practices. Click to learn more about our 20-point PPO negotiation process.
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