Escaping the Low-Profit Insurance Trap

Dr. Bill Blatchford is the Co-CEO of Blatchford Solutions, a business consultancy for dentists. For 35 years, Dr. Blatchford has helped dentists increase their net return, time away, and enjoyment of life. Before becoming a consultant, Dr. Blatchford practiced dentistry for 20 years in Corvallis, Oregon. He has written several books, including Dentist's Mighty Guide Book, Playing Your 'A' Game, and Blatchford Blueprints.  In this episode… Most startup dentists are told to partner with as many insurance companies as possible. Sure, insurance companies can send you endless amounts of patients. But will this actually bring you the most profit?  Dr. Bill Blatchford, a dentistry business consultant, says that when he started his dental practice in 1970 — before dental insurance existed — most dentists brought home 55 cents on the dollar. Now decades later, that number has decreased to a mere 25 cents on the dollar, in large part due to insurance companies. While insurance companies may send you a ready list of clients, most of them will only accept treatment that the insurance covers. This typically results in your schedule being packed with low-paying patients. If this is sounding familiar, you may be wondering: is there any way out of the downward spiral?  In this podcast episode, Ed O'Keefe interviews Dr. Bill Blatchford, the Co-CEO of Blatchford Solutions, about how you can escape the dental insurance trap. Dr. Blatchford explains why partnering with insurance companies is the least profitable marketing plan for dentists, how to become a "non-restricted provider," and why learning to communicate the value of dentistry is so essential.