We often hear dental professionals express their concerns, saying, “I’m working harder, but taking home less,” or “my team is asking for raises, but there’s just not enough money.”
These concerns highlight a common dilemma that dental practices encounter—the struggle for profitability, particularly when dealing with PPO Plans. Our goal is to shed light on the practical aspects of profitability within your practice and offer solutions that can make a substantial difference.
The Profitability Challenge
Before we explore the solutions, let’s first understand the problem. One key element of this puzzle is overhead costs. To give you a clearer picture, the average overhead cost in a Utah dental practice hover around $500 per hour. With this in mind, let’s analyze two common dental procedures: composite fills and porcelain crowns.
Composite Fills Analysis
Composite fills are a routine procedure in most dental practices. The average PPO reimbursement rate for a composite fill is $120. If you factor in the $500 overhead cost, scheduling three 2-surface posterior composites within an hour would result in a loss of $140. Even if you manage to schedule a hygiene appointment simultaneously, you’ll still find yourself in the red.
Porcelain Crown Procedures
The average PPO reimbursement rate for an all-porcelain crown is $720, and with a build-up cost of $105, the total PPO reimbursement for the procedure averages $825. But here’s the catch—your overhead for this two-hour procedure is $1000. That means, despite the reimbursement, you end up $175 in the red.
This financial challenge often forces dental teams to cram their schedules in a bid to make a sliver of profit.
The Solution: MPMB Training
With MPMB training, the numbers can look vastly different. MPMB-trained offices average $210 of revenue per 2-surface composite fill and $1425 for each all-porcelain crown, with PPO plans. This transformation with our training is precisely what dental practitioners need to build a sustainable and profitable practice.
At My Practice My Business, our expertise in PPO contracts and dental state laws empowers us to guide dental offices toward revenue growth without resorting to conventional consulting tactics, such as schedule cramming or aggressive diagnoses. We have helped thousands of dental professionals increase profitability with proven strategies.
Making the Choice for Your Dental Practice
You can either stick to the status quo of unprofitable dental practice philosophies that lack a solid business foundation, or you can opt for a transformative path by training with a dental consulting company that not only promises but guarantees their training—My Practice My Business.
Imagine the possibilities that open up when you can achieve profitability with nearly every dental procedure. The positive impact of this business knowledge is life-changing, not only for you but also for your dedicated team.
Empowered by PPO contract knowledge and an understanding of state laws, MPMB guides dentists and their dental teams toward procedural profitability.
Conclusion
Dental profitability is not an elusive dream but a realistic goal within your reach when you understand how to apply insurance contracts and state laws. By investing in the right knowledge and training, you can transform your practice into a profitable venture that not only benefits you but also rewards your dedicated team. Your journey towards dental practice prosperity begins here.