Operation RIM in 2012: Eliminate Managed Care by Operating a Managed Dental Practice

managed care Will shut down his dental practice.

But, there is an alternative. By providing strategic management and leadership to your existing dental practice, you don’t have to let business growth down. As THE DENTAL COACH©, dentists come to me with issues related to the profitability, growth, and management of their practice. Many dentists get into trouble because they don’t realize the negative financial impact these third-party managed care plans have on the practice’s bottom line. I solve that problem.

Using sound and proven business management principles, coupled with my experience as CEO of Dental, I identified two alternatives: 1) provide the same level of high-quality dental care at a dramatically lower price, or 2) reduce participation in the “alphabet soup”. of the many managed care programs.

This isn’t an overnight success, but neither was launching his dental practice to begin with. This solution-oriented approach will help address the dilemma that managed care brings to your dental practice. As you go through each of these steps, focus your mindset, energy, and intensity on the transition from managed care to a managed practice.

Read below for a list of my top five recommendations to help reduce managed care in your dental practice:

1. Create your list of Core Values ​​and a Vision of the Practice. Your core values ​​will provide the critical guiding principles around which you will make all professional decisions. Articulate this to your team and get them involved. I suggest you post them on a bulletin board in the break room.
2. Examine any and all managed care contractsas you compare side by side with your core values ​​and practical vision. What fits? Not?
3. Develop a financial profileyour dental practice. Work with your CPA or financial advisor for this. Integrate the financial profile with the demographics of the existing customer base.
4. Assess current plansto determine which ones to finish. Determine the order to release them and develop a timeline.
5. Implement effective technical managementthat will reduce costs, improve efficiency and increase profitability. Examples: developing an annual marketing plan, expanding service offerings, improving case filing, integrating a new patient financing option, adjusting fee schedules, and providing additional training for the entire team.

The most important thing is: Review, re-measure, re-measure and re-measure and remember the vision. As dentists, we sometimes forget to think, act, and behave like a CEO. Making this change in 2012 could mean all the difference for your practice.