9.10.10 Issue #444 info@mckenziemgmt.com 1-877-777-6151 Forward This Newsletter
 

Waste Not, Want Not… Especially Insurance $$$
by Sally McKenzie CEO
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I hate to waste money. I get irritated when I have to throw food away because the expiration date has come and gone. Parking tickets infuriate me because I should have made it a point to move my car before the time expired. Rebates, annoying as they are, hang over my head until I take action because if I don’t, it’s money down the drain. I’m willing to bet that most of you dislike wasting money as much as I do - and so too do your patients. 

Consider this - what if you knew one of your patients was going to lose $500, another $350, still another $200. Wouldn’t you feel a responsibility to tell them? And wouldn’t you want someone to tell you if you were going to lose a few hundred bucks? Well, I’m telling you: You could lose several hundred, possibly thousands, of dollars in production this fall. How? Unused insurance benefits. 

Many, many patients have dental insurance plans with benefits unused and poised to go to waste come year’s end. In fact, dental insurance companies count on making millions of dollars off of patients who never use their insurance benefits because unbeknownst to the consumer, many of these plans provide coverage up to a certain dollar amount annually. But insurance companies certainly aren’t going to encourage customers to use benefits, and most patients are too busy to sift through their policies to determine what might remain on them. So it’s up to dental practices to get the word out to patients, and fast.

September is the perfect time to start talking about unused benefits. It gives your practice plenty of time to compile the data, notify the patients, and get the appointments scheduled. Now, to get the ball rolling, take these steps:

  1. Generate an “Unscheduled Treatment Plan Report”
  2. Identify those patients who still have unused insurance benefits
  3. Use the letter I’ve prepared for you below
  4. Add a P.S. that says, “Take your insurance dollars further with zero interest patient financing. Ask Jessica in my office for all the details.”

Remember, you are doing your patients a favor by helping them to take full advantage of their insurance coverage. I can virtually guarantee that every patient you notify will thank you for calling this to their attention. Whether they take advantage of the opportunity or not, they will appreciate the fact that you took the time to educate them on this important insurance detail. Patients do not want to lose money any more than you do.

Below is a suggested letter that you can customize to best fit your practice.

Dear Mrs. Patient:
Did you know that you may lose $XXX in dental care benefits? Our computer estimates that you still have $XXX in unused dental insurance benefits that will be lost by the end of the year.

Each year insurance companies make millions of dollars off patients who forego necessary and preventive dental treatment. Many individuals who are paying for dental insurance do not realize that their plans provide coverage up to a certain dollar amount annually.

Consequently, some patients are not scheduling the dental procedures they need, deserve, and have insurance to cover. Thus, the insurance money available to pay dental claims on many patients is never used, and, unfortunately, those dollars cannot be carried over year-to-year. The bottom line: What you don’t use, you lose.

We are here to help you secure the insurance coverage available to you on every dental procedure you schedule. Give (name of appointment scheduler) a call at 555-1234. I look forward to seeing you again and addressing your dental care needs promptly.

Sincerely,
Dr. Dental Health

P.S. Find out about additional zero interest financing options for dental care. Check with Jessica in my office for all the details.

Next week, the letter is just the beginning.

Interested in speaking to Sally about your practice concerns? Email her at sallymck@mckenziemgmt.com. Interested in having Sally speak to your dental society or study club? Click here.

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