1. Inventory Management & Coupon Redemption
Carrying excess inventory ties up cash and leaves you with outdated supplies. Carrying too little can result in emergency orders and drive up your costs. With our Supply Saving Guarantee program, we carefully manage your inventory to stock only the supplies you need, when you need them. Our automated coupon redemption system allows us to redeem 95% of manufacturer coupons on your behalf. These measures can help your practice save thousands on supplies.
2. Fee Analysis
Increasing Fees twice in 2022 is a trending pattern. We can provide a complimentary fee analysis
that compares your fees to others in your zip code and then recommend changes. Even practices that heavily participate in managed care will recover additional revenue through out-of-network claims, secondary claims, and private pay patients.
Well-positioned fees provide leverage for PPO negotiations and pave the way for future transitions.
3. Coding For Reimbursement
Ethical coding strategies exist to maximize your reimbursements. We will comb through your Procedure Coding Report to identify under and over-utilization as well as growth opportunities through coding strategies. If you send us your coding report, we will do the legwork and email you back a complimentary analysis.
4. Business Analysis
Our signature “Practice Analysis” evaluates the overall health of your practice, including the financial (Collections, AR, Aging), annual patient value to the hygiene department systems, new patient numbers, and restorative mixtures of services. We will follow up with a phone call and customized strategies from one of our business coaches who can help implement systems to improve the areas you want to focus on and help you weather any economic downturn. In the first half of 2022, we have already helped practices find an additional average of $155,758 in production alone.
5. PPO Analysis
Information is empowering and we will help you get the information you need to make informed decisions for your practice. In our PPO analysis, we’ll provide you with a weighted average write-off report by an insurance contract that includes the percentage of patients on each plan. We can help you identify plans to renegotiate or drop. Even better – we’ll help you put together a dropout plan for maximum retention. If you aren’t looking for a full analysis, but just have a few questions about PPOs, we can help you with that too!
6. PPO Drop/Loss Calculator
Dropping a PPO plan is a big decision. Let us help you by providing a drop loss calculator tool that will allow you to predict the impact on collections based on various patient retention scenarios. All you need to do is enter the plan you want to evaluate, the total collections from the plan, and the number of patients on the plan – the tool does the rest! Your result is an estimate of what you can expect to happen to collections if you decide to drop the plan. These estimates are based on retaining 25%, 50%, 75%, or 100% of the patients on the plan.
7. Scheduling Templates
Are you short on hygiene? Need a place to put new patients? Not as productive as would be ideal for your practice? Let us help! We offer a variety of templated scheduling models to ease the pressure of all these scenarios – from different new patient intake strategies to shadow, assisted, and accelerated hygiene schedules. During a staffing crisis, an interim plan may be all you need to keep up with patient care until you hire the next staff member.
8. Marketing
The best marketing return on investment comes from internal strategies, but sometimes you need a little more help. We can provide you with tried-and-true methods to help increase your new patient numbers. Ask your Burkhart Account Manager or our Practice Support Team for our Marketing Strategies for General Dentists or Specialists resource.
9. Associate Readiness Assessment
A thorough evaluation of your practice can help determine if this is the right time to add an Associate. This assessment is followed by a phone call with one of our business coaches to answer your questions on compensation model options, marketing, and how to seamlessly integrate your new associate.
Our Practice Support Team has a 14-year history of working with hundreds of practices as well as a robust resource library to help you strategize a solution that matches your vision and clinical philosophy of care.
Facing other challenges? Please reach out to us anytime.
Learn more, visit the Practice Support Team page, call 1.800.665.5323 or email us at PracticeSupportTeam@BurkhartDental.com
Published in TIPS – September/October, 2022.
Category: Practice Consulting
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