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Why do dentists feel obligated to give insurance more and more of their hard-earned profits? Insurance recently slashed another 10% off reimbursements, so they’re making out like bandits while you feed them more wealth.
We recently talked to a doctor who routinely writes off 33% of his production to insurance. You read that correctly: 33%! That equates to hundreds of thousands of dollars.
It’s clear that the only place an insurance company gets profit is by taking it out of your pocket. But you shouldn’t beat yourself up for falling for insurance strategies. They’re sneaky and, at least at first, they do it slowly. Eventually, they start acting like they own the place. They actually tell YOU how to treat patients.
We’ve seen it happen already in the medical industry. Insurance “partnered” with physicians and, then, WHAM, it was running the whole show.
This isn’t new for dentistry, either. For decades, dentists have assumed that firing insurance means they won’t be able to make up for lost patients or replace them with patients who are capable and willing to pay their own way.
The question remains, how do you handle this predicament? We’ve seen this play out in several ways:
It’s critical to understand that only the third option leads to success. The other two are total dead ends…either now or later.
Sure it might seem scary making that first move, but you don’t have to fire all insurance all at once. And there are plenty of patients out there who want your expertise and don’t give two hoots about whether insurance will cover it.
If you haven’t gotten your hands on our PPO Prison Report, feel free to grab it here and FREE yourself from insurance with calculated, proven steps used by fellow doctors who were sick of working so hard to feed the insurance machine.
Imagine what you would do with all that extra wealth you no longer support insurance with. Would you enjoy more time off? Retire early? Take more vacations with your family? Build a very profitable business you can sell down the road? The possibilities are endless and waiting for you to get started.
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