- December 3, 2020
- 6:30 PM - 8:30 PM
- Click to View Pricing
Responding to Impending Lower Reimbursements from Insurance Companies
Jeff Belkora, PhD & Brett LeMmon, CPA
2 CE Units (Core)
Even before the pandemic struck, dentists were facing lower reimbursements from insurance companies. COVID-19 has now increased the financial pressure on dental practices. We will diagnose some of the problems associated with lower reimbursements, and discuss how dentists may best respond to protect the quality of patient care, and the financial health of their practices. We’ll also review a case study illustration for audience members who may be embarking on a practice transition. In this case study, we will look at how lower reimbursements are influencing practice valuations.
- PLEASE NOTE: this will be an online interactive workshop via Zoom.
- This format will require patience, goodwill and good humor from all parties!
- For interactive portions of the workshop, you must be willing to participate (and be called on) via Chat, Poll, and Audio functions in Zoom
- You should be in a quiet environment with a microphone/audio connection and ability to view the onscreen content
- You do NOT need to share your camera feed, although you are welcome to do so.
- If you cannot meet the conditions above, and you wish to observe passively, we respectfully request that you wait and review the recording, which we will make available afterwards.
ADVANCE HOMEWORK ASSIGNMENT
Participants should be prepared to anonymously respond to workshop polls on the following insurance-related practice data. Please review your financial records in advance and have the following ratios ready to reference during the workshop. We do not want to know any proprietary amounts, just the percentages:
- How much of your total revenue (collections) is from insurance (including Delta Premier) (%): __________________ [A]
- What percentage of your insurance revenue is from PPOs (%): __________[B]
- What is the average PPO discount (%): _____________________________ [C]
Worked example/illustration of homework assignment: If Dentist XYZ collects $1 million each year, and $800,000 is from insurance, answer A would be 80%. Of that $800,000, suppose $200,000 is PPO reimbursement. So answer B would be 25%. For the $200,000 that is PPO reimbursement, if the average discount relative to UCR is 30%, then answer C would be 30%.
Jeff Belkora, PhD is a researcher and consultant based at the University of California, San Francisco. Jeff serves as scientist-in-residence with Thomas Doll, focused on education and quality improvement. Jeff lives in San Francisco with his wife and two children. Outside of work, Jeff enjoys time with his family and friends; plays soccer and basketball; and writes songs.
Brett LeMmon, CPA is a principal at Thomas Doll, where his specialties include minimizing taxes through strategy and planning, practice benchmarking, practice transitions and buyer representation, and retirement planning. Brett holds a Masters’ Degree in Accountancy from Southern Utah University. Brett enjoys spending time with his wife and two little boys. Other interests include mountain biking, being outdoors and Frisbee.
* RSVP by 12 noon Mon, Nov. 30.