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Less Insurance Dependence Podcast
Feb 13, 2020
Episode 70: First 2 of The 24 Systems For A Thriving Practice
Play episode · 23 min
In this episode, Gary and Naren talk about the first 2 systems for a thriving practice.
More episodes from Less Insurance Dependence Podcast
1 day ago
Episode 107: How to Respond to the Dreaded Question "Is this covered by my Insurance?"
You know that choosing to be less insurance dependent is favorable for your dental practice. However, it's important to convince your patients that this choice is beneficial for them too. It may seem challenging but, using the right words will help you gain the trust of the patients. That will result in customer loyalty and ultimately increase the retention rate of your existing customers. Highlights * Intro to today's topic > 01:01 * About the built-in support system > 02:00 * Addressing a question that makes almost every dentist cringe > 03:15 * How to answer the question "Doctor, is this covered by my insurance?" > 09:15 * About Gary’s upcoming MBA program > 21:39 Resources DOWNLOAD PLAQUE #1 DOWNLOAD PLAQUE #2 DOWNLOAD GARY'S LANGUAGE LEARN MORE REGISTER Transcript Naren: This is the less insurance dependence podcast show with my good friend Gary Tackas and myself Naren Arulrajah. Gary: We appreciate your listenership, your time, and most of all, we appreciate your intention to reduce insurance dependence in your practice. Our goal is to provide information that will help you successfully reduce insurance dependence and convert your practice into a thriving and profitable dental practice that provides you with personal professional and financial satisfaction. Gary: Welcome to another episode of the less insurance dependence podcast. I’m Gary Takacs, your co-host and we have a great topic for you today. As you saw in the headline, the topic is how to respond to the dreaded question from your patients, is this covered by my insurance. We're going to get into that question in detail and share some wonderful responses that will help your patients think differently about their dental insurance from this day forward. Hey before I do that, I just have a comment I want to start with on this episode. Recently I had a chance to talk to a number of our clients who are in the process of going out of network with PPO plans and one of my clients made the comment to me that he really appreciated having a colleague that he could talk with about the journey. Another dentist that is midway like him going through the process of successfully reducing insurance dependence and he said it's almost like a built-in support system where this dentist could talk to a colleague about the things that they were experiencing in their practice and he just made the comment that he really appreciated the fact that he could speak to someone else that's a colleague that was experiencing the same things, not only for support and encouragement but also just for perspective. So, I have a request. My request obviously if you're a listener of the less insurance dependence podcast, you're interested in reducing your insurance dependence, I bet someone that could maybe be a colleague like that for you, maybe it's someone you went to dental school with, maybe it's a dentist that you've really connected with in your CE courses, but I invite you to share the less insurance dependence podcast with a colleague, with a friend, plural even because i do think the idea of having others that speak the same language and are on the same journey can be very helpful. So please share this with one of your colleagues and that can help you as well. Anyway, let's dive into this topic, how to respond to the dreaded question, is this covered by my insurance Naren: Hello everyone this is Naren your co-host of the less insurance podcast show. Today we are going to be addressing a question that make almost every dentist that I know cringe. The reality is that if the number one way your dental office attracts new patients is by signing on to PPO plans, the number one question they'll be asked is, is this covered by my insurance? This is going to happen day in and day out and as more than 90 percent of practices in the United States and Canada have some type of insurance, you're going to hear this every day. Of course, this question gets so frustrating both for the dentist and the team member, sometimes they just accept it, they accept this is the reality. But in today's episode Gary will share some effective ways to respond to this question. So instead of letting it kind of frustrate you and instead of giving up Gary's going to talk about how you can respond to the dreaded question, is this covered by my insurance Gary: Hey Naren, I hear that question from when I’m in offices and listening, I hear that question almost incessantly when doctor is presenting treatment to the patient, especially treatment that's asymptomatic, that doesn't hurt or that's elected, doesn't necessarily need to be done and I’ve actually heard dentists in an experience of lower emotional intelligence actually sigh when they get asked that question. The patients say doctors just covered by my insurance and I’ll hear the dentist say, they're so frustrated. They know they can help the patient. They have the clinical skills and they know how it's going to benefit the patient but the truth is, the only way the patient wants to have it done is if it's covered by their insurance and if dentists hear this enough, it’s kind of creates a defeatist perspective. It's like here we go again, you anticipated happening. If something happens enough you pretty much accept it as reality. Well here it comes, here comes, here comes, and what happens sometimes Naren is that dentists quit recommending ideal treatment or elective treatment because while here comes, here comes, I don't need to bang my head against the wall. I’m not even going to present it. Naren: Can I share? Gary: It's a downward spiral, it's a downward spiral that doesn't help the dentist the practice or the patient. Naren: Yeah, let me share something that our mutual inspiration Doctor Stephen Covey said. He talks about his time quadrant and he talks about urgent and important, right, things that hurt are urgent. Of course, we're going to do it, right, like the ring phone, the burning house etc. But the benefit comes from working on the important stuff, the elective stuff, the things that you're doing today to prevent future problems, benefit both for the practice as well as for the patient. What you're saying is the patient who's typically on insurance is trained to just deal with the urgent and the doctors also give up, they're also dealing with the urgent. So, neither the practice is growing nor the patient's health is growing. So, they all are like stuck in this urgent loop and never working on the importance. So, this I think is, I mean, just reminded me of what you're saying work on the important stuff, not work on the urgent stuff. Gary: The by-product if that happens is the practice evolves into a tooth at a time practice because you think about what are the benefits covered by insurance whether it's a thousand dollars a year twelve hundred dollars a year or rarely fifteen hundred dollars a year, that's basically one tooth. Naren: Right Gary: And so, doctors start subconsciously evolving the way they diagnosed to basically just the tooth of the year club let's just treat the most urgent tooth because that's all the patient's going to accept because that's all the insurance is going to pay for and you think about Naren: Right Gary: Think about how contrary that is to their training, to their training to be comprehensive, to help people prevent future problems Naren: Right Gary: They're literally just doing the tooth of the year club. Can you imagine if let's just relate it outside of dentistry and let's say someone wanted to carpet their house, re-carpet their house but that isn't something that would be covered by homeowner’s insurance but if there was such a thing as homeowners’ dental insurance, the insurance company would say what, one room at a time. You'd only do one room at a time and how long would it take you to re-carpet your house? Of course, that's how many rooms you have but that could take years and years and years.…
Oct 22, 2020
Episode 106: Oral Conscious Sedation as a Strategy to Reduce Insurance Dependence
Dental anxiety or dental fear is estimated to affect close to half of the population. This means a large portion of the population has been avoiding treatment and is at risk of severe oral health issues. Oral conscious sedation offers these patients a method to manage their anxiety and calmly receive the dental care they need. In this episode, Gary and Naren discuss the common forms of sedation and effective measures a practice can take to attract these fearful patients and increase their profitability. Highlights: * Introduction to today’s topic > 01:03 * Thanking a reviewer! > 01:25 * How to grab your complimentary Marketing strategy meeting > 02:54 * Details on statistics on the people who avoid the dentists out of fear > 4:50 * How to market Oral Conscious Sedation? > 14:04 Resources REVIEW SCHEDULE A FREE STRATEGY MEETING REGISTER Transcript Naren: This is the less insurance dependence podcast show with my good friend Gary Takacs and myself Naren Arulrajah. Gary: we appreciate your listenership your time and most of all we appreciate your intention to reduce insurance dependence in your practice. Our goal is to provide information that will help you successfully reduce insurance dependence and convert your practice into a thriving and profitable dental practice that provides you with personal professional and financial satisfaction. Gary: welcome to another episode of the less insurance dependence podcast. I’m Gary Tackas your podcast co-host. We have an exciting topic for you today because of the difference this can make in your practice. This episode is titled oral conscious sedation as a strategy to reduce insurance dependence. You're going to enjoy this one especially when you understand what an incredible difference this can make and what a giant step this piece is to help you successfully reduce insurance dependence in your practice. Hey before we get that though I want to thank our listeners that have gone on iTunes and written a review for the less insurance dependence podcast. We received one the other day that I want to take a minute and just read. It certainly made my day and here's what that review said. I like listening to podcasts on my way to work and this one has so much relevant information that I often pause it and ask Siri to remember a piece of information for me. It's very specific relevant helpful information that I would expect most consultants to charge me to get access to. Love this podcast. Well thank you so much for the doctor that wrote that review. Certainly, made my day and Naren, how does that review sound to you? Does that make your day? Naren: It definitely does. I know we put a lot of effort into it and you put a lot of time preparing for it. So, it definitely makes my day Gary for sure. Gary: hey Naren, I wanted to also kind of kick off this podcast episode by thanking you and your team at EKWA for all that you're doing for us we're having here we are as we're recording this towards the end of the month and we are seeing awesome new patient flow thanks to EKWA. So, Naren I wanted to thank you and your team for all that you do to supply us with a healthy volume of new patients and I know you're committed to helping more dentists master the world of digital marketing and you've been kind enough to offer our listeners here at the less insurance dependence podcast a complimentary marketing strategy meeting. I'd like to put the link in the notes or show notes where they can schedule that meeting with Lila. Would that be okay if we did that? Naren: Absolutely Gary, thank you for thank you for your comment. I appreciate it and absolutely we can we can do that absolutely Gary: I know that's something you normally charge for however for the courtesy of our listeners there's no charge. It has a 900-dollar value. However, there is no charge for our listeners and I can assure you, if you're listening to this you will love the time spent with Lila. You’ll learn not only about marketing about digital marketing, you'll learn what your practice looks like in the eyes of google and very specific things you can do to improve your digital marketing in your practice. So, you'll learn about marketing but you'll also learn things about your practice you likely didn't already know, time very, very, well spent. Anyway, thank you Naren for supporting our listeners in that and the opportunity for them to schedule a complimentary marketing strategy meeting. Naren: Thank you so much Gary. I appreciate it. Let's jump in. I really think today's topic is going to be a great topic because we both know Gary and I’m sure you have, you work with 2200 clients you know this better than anybody that there is a large part of our population that doesn't go and see the dentist. I mean some people probably don't see the dentist for five years ten years and it's just maybe because they're afraid of the dentist, maybe they're afraid of the pain or maybe they're sick of the insurance limitations they're like forget it, I don't want to waste my time just going there and just doing piecemeal dentistry. So, whatever the reason, they don't go to the dentist especially men I think Gary: In preparation for this episode I did some research. Naren, you're spot on. Do you know that 49 percent of North Americans, 49 percent of North Americans put off a visit to the dentist because of fear? 49 percent. That's almost half Naren: Right Gary: Put off a visit because of fear. Now it's irrational. It's completely irrational but fear by itself can be irrational Naren: Right Gary: Now let's take it a layer deeper. We know from hard data that 22 percent of North Americans won't go to the dentist at all because of fear and you are also correct in the gender mix. Certainly anyone could experience apprehension of going to the dentist but more men experience it than women and conversely more women historically visit the dentist on a regular basis than men and we'll talk about that as we go throughout this episode but one of the things happened because of insurance Naren is that insurance has trained people and practices to kind of do single tooth dentistry. It's trained people. Think about this for a minute. Dental insurance was invented in 1968 and originally it was been invented by dentists for dentists well that come has changed radically over the years, the annual award in dental insurance policy in 1968 was a thousand dollars. That meant you got a thousand dollars’ worth of benefits, the same kind of percentages that we see today. For example, restorative dentist dentistry is often covered at fifty percent. Think about what the thousand dollars got you in 1968. The average crown fee by the way was a hundred and fifty dollars, a hundred and fifty dollars and typically most dental insurance plans in 1968, the patient paid seventy dollars, the insurance paid 75 dollars. So how many restorations, how many crowns could they get with their thousand-dollar annual award from the insurance, how many can they get? A quick math 14, 15. Naren: Yeah 14, 15. That is correct Gary: Almost a full mouth reconstruction depending on what their condition their mouth was Naren: Right Gary: Now let's fourth fast forward today many insurance companies have the same thousand-dollar annual limit Naren: Wow Gary: Where now the average crown fee is somewhere between eleven hundred and twelve hundred dollars. So how many crowns can they get with their annual award especially if it might need a build-up or maybe even needs a root canal, one tooth Naren: Right! Gary: And so, it's kind of had a subversive effect on training dentists and even patients to do single tooth dentistry Naren: yeah and I think I think the problem that I see as a patient as a consumer is like I want solutions; I don't want 10 percent of the solution. So again, I’m just talking as a man. I mean I don't know if women feel this way but like if you tell me come waste my time wi…
Oct 15, 2020
Episode 105: Is it Possible to Negotiate Your Fee Schedule With Dental Insurance Companies?
Most dentists today believe in a now-defunct urban myth: Negotiating with Dental Insurance Companies! This may have been true a few decades ago, but certainly not today. Why negotiate when you can reduce? Join Gary in today's episode as he answers this age-old question while sharing some examples from his experience negotiating with insurance companies & how you can progress further towards the future of the industry by dropping PPO plans!