Five Lakes Professional Services helps dental practices develop, manage and execute an insurance participation strategy to attract and retain patients and improve profitability. Our comprehensive approach is based on collecting and analyzing data to help practitioners make informed objective decisions. Based in Cleveland, Ohio, 5Lakes has provided support to over 1000 dental offices across the US.
We are honored to be recognized in the 2016 Inc. 500 as the fastest growing company in Northeast Ohio. Thank you to all our clients, team members, partners, vendors and colleagues.
HOW WE HELP DENTAL PRACTICES
Five Lakes provides a variety of services including developing an insurance participation strategy, PPO negotiations, credentialing and more. These services are designed to help dental offices do insurance better. Whether your office participates selectively in a few plans or broadly in many plans, 5Lakes can help. For more information about our services, click here or to schedule a complementary video conference simply fill out the form to the right.
BE SMART ABOUT WHO YOU HIRE
Choosing someone to represent your company is an extremely important decision.
We take that responsibility very seriously.
Here are a couple tips when evaluating a potential partner.
1. If a company promises dramatic fee increases, run the other direction. Remember…not all insurance companies negotiate. Likewise, if a company promises that they can get you in-network in a few weeks, run faster. This stuff is fairly complex and highly regulated…it takes time.
2. We are fortunate to work with representatives from over 20 insurance companies on a daily basis. They know how we operate, what we do, who to communicate with, etc. Therefore, we don’t use ridiculous tactics like trying to strong-arm them or communicate inappropriately to show “we mean business.” Anyone who says that is not going to enjoy a productive relationship with the insurance companies.
3. Insurance companies behave differently. For example, some carriers like Ameritas have added additional qualifications for third parties, while a few don’t work with third parties at all (i.e., Anthem BCBS). Further, several other insurance companies require additional qualifications or communications for vendors who have either not earned, have lost due to inappropriate behavior, or have yet to establish a reputation. This is largely a response to unethical behavior by companies advertising themselves as “fee negotiation experts.”
4. We take very seriously our commitment to maintain the confidential financial terms offered for each provider. We do not share practice information, contracting status, fee schedules and other sensitive information. We do not negotiate on false premises.
Ultimately, our wish is that you be careful in selecting someone to represent you in fee negotiations and contracting. In addition to producing results for our clients, we have worked hard and continue to work hard to maintain a strong reputation for honest and ethical behavior.