Renegotiating Dental Insurance Fees

Getting the perfect insurance fee schedule is certainly the ideal scenario, but it’s also rarely the case. However, what many dentists like you don't realize is that it's never too late for your office to re-evaluate its insurance contracts and renegotiate its fee schedule. Renegotiation can be beneficial—not to mention profitable—to your practice, and it's not as difficult as you might think.

Start by asking some important questions about the insurance companies your office is contracted with, such as: “When did you last negotiate the fee schedule?” It is recommended that you renegotiate for a new fee schedule annually. This will give your office a chance to receive a more substantial reimbursement for common procedures. That said, keep in mind that you can renegotiate anytime you feel your current reimbursement is inadequate.

When you renegotiate, two things will ensure a more favorable fee schedule. One is if there's not a lot of competition in your area, and the other is if you have a good relationship with the insurance company you're contracted with. In both cases, these companies will be willing to participate in the fee negotiation process.

In the end, a firm understanding of how insurance companies work and knowing what you want out of them will give you a solid foundation for renegotiation. It may seem complicated at first, but it is something that your office should do and can benefit from.