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Patient Attraction Episode 999
Delta Dental is already one of the 800-pound gorillas of dental insurance. Now, it looks as if that gorilla has decided to sit on Massachusetts. This may be a one-off occurrence, or it could signify a trend nationwide. I’ll be back after the break to tell you more. Stay tuned.
– Thanks for watching the Patient Attraction Podcast™.
– I’m Colin Receveur.
– Delta Dental, in its many state subsidiaries, has a commanding share of the dental insurance market.
– In Massachusetts, Delta has an estimated 30 to 40 percent market share and is the single largest dental insurer in the state.
– And Delta is implementing a change in Massachusetts that has many dentists scratching their heads.
– Delta is moving its insureds to a PPO plan that is cheaper for employers and patients.
– And that sharply cuts reimbursement rates for dentists.
– In fact, reimbursements are dropping from 82 percent to 58 percent.
– That’s a bite many dentists can’t swallow, but many of those same dentists can’t afford to lose a large part of their patient base, either.
– Dentistry is certainly no stranger to being squeezed on reimbursement rates, but this level of reduction is worrying for several reasons.
– First, Massachusetts may be a trial balloon for Delta’s PPO move and for the decreased reimbursements.
– That’s speculation, but it’s worth considering.
– Second, if Delta succeeds without major pushback in Massachusetts, other dental insurers may follow suit in various states.
– And third, too many dentists are still marketing to insurance patients, and they’re liable to get hurt in the pocketbook.
– Again, this is speculation, but it points out how dentists are vulnerable.
– Having too large a share of your patient base motivated by insurance can be dangerous to your growth and success.
– That’s not to say that you should never take insurance patients – that’s just not realistic for most dentists.
– But there’s a way you can regain control of your financial future.
– It’s what Dr. Lucas Perrigo of Birmingham, Alabama, did, and he’s glad about his decision to become a SmartBox dentist.
– Here’s what he told us.
– “Since we’ve been using SmartBox Marketing, we’ve had great success.
– “We’re up to averaging 80-100 leads a month; last month was 160 — which is a great response.
– “The amount of traffic, the bigger cases, the implant cases that we’re getting are 90 percent driven from the website.”
– More and better dental patients.
– If that’s what you want, go to smartboxdental.com/blueprint and schedule a Patient Attraction System Blueprint™ Session. They are reserved for serious dentists who want to see a patient attraction system that can double their practice. You can get more patients, more profits, and more freedom.
– And you can make your financial future more predictable, regardless of what Delta Dental and other insurers decide to do.
– Join me for our next podcast.
– Until tomorrow, keep moving forward.