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.
START WITH A PLAN
The first step in PPO Management is to choose your participation wisely.
True story. A dentist with a very successful practice called to inquire about changes he’d noticed in his office. An insurance company had sent him a pretty good fee schedule and having a few holes in his schedule, decided to participate. Six months went by and he started noticing that insurance companies were capping his fees and considering him in-network. Long story short, the doctor joined a plan that essentially put him in-network everywhere due to their partnerships…quite unknowingly. 5Lakes calculated the damage at about $250,000. His predominantly fee-for-service office turned into a largely PPO practice with one bad decision. Beware the unknown. Hire experts.
As insurance becomes more prevalent in your office and insurance companies becoming increasingly complicated, it’s important to get the strategy right.