Greg Winteregg DDS Answers The Managed Care Riddle
Below is a MRR and PLR article in category Business -> subcategory Other.
Solving the Managed Care Puzzle: Insights from Greg Winteregg, DDS
Summary
After spending years and substantial money on consulting, I was still struggling to attract new patients, with numbers dwindling to just 10 per month. Frustrated, I explored PPO and HMO plans as potential solutions. However, the real breakthrough came through targeted training that empowered me to handle the issue independently.
Understanding Managed Care
If you're considering or are currently tied to managed care plans like HMOs and PPOs, you may be seeking ways to boost new patient numbers or exit these plans altogether. This article explores why dentists join these plans and how they can successfully transition out.
Why Dentists Opt for Managed Care
Common reasons include:
1. Needing more patients.
2. Fear of being "locked out" of plans.
3. Patient requests.
4. Cash flow improvement.
5. Increasing new patient acquisition.
While these reasons are valid, wouldn’t it be preferable to receive full fees for your services? Managed care plans often require fee reductions of 15-60%, cutting into your profits without decreasing your costs.
Rethinking Patient Acquisition
Managed care provides more patients, but why not focus on attracting new, fee-for-service patients on your own? To transition away from managed care, you must learn to attract these patients independently.
Enhancing Your Marketing Skills
Most dentists recognize the need for more new patients but struggle with marketing due to a lack of training. As an executive of your practice, handling marketing and patient acquisition is crucial. The solution is simple: gain the training needed to confidently manage marketing strategies.
Overcoming Challenges
Two primary hurdles are:
1. Attracting enough fee-for-service patients.
2. Improving case acceptance.
Understanding how to sell comprehensive treatment plans can transform patient relationships and improve collections. If three patients accept only part of a $6,000 plan each, it's equivalent to one patient accepting a full $6,000 plan?"without needing more patients.
The Business Model
Success in any business follows this model:
1. Sell your product or service.
2. Deliver it effectively.
3. Acquire new clients to continue selling and delivering.
While dental schools excel in teaching service delivery, many dentists lack marketing and sales training, causing significant challenges.
The Solution
Managed care may increase patient numbers but often at the cost of profitability. Instead, focus on enhancing your marketing and sales skills in-house. By doing so, you gain control over patient acquisition and can confidently move away from restrictive plans.
My Journey
In 1992, as I considered managed care plans, I discovered the MGE New Patient Workshop. This program taught me to solve my patient acquisition issues independently. Consequently, my practice thrived, and I eventually joined MGE to help other dentists achieve similar success.
Conclusion
Take action this year to enhance your practice by attending the MGE New Patient Workshop. I look forward to supporting your journey and celebrating your success.
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For more information, visit the [MGE New Patient Workshop](http://www.mgeonline.com).
You can find the original non-AI version of this article here: Greg Winteregg DDS Answers The Managed Care Riddle.
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