Let’s face reality.
Accepting insurance benefits from your patients has only gotten harder, increasingly so over the last few years.
As practice owners, we now must make sure that all of our codes are correct. If not, we don’t get paid or we have to pay to resubmit the claim. And there are new codes that seem to be coming out daily, and if you’re not aware of them, then you could be missing out on a payment opportunity.
When you do actually get paid from the insurance company, is it really what they owe you? Probably not. Your services are worth more than you’re being paid. Not to mention, most insurance companies are also charging you to file and insurance claim.
So if you file a claim for a $75 visit, in reality, you’re probably getting a check for 50-60% of that, if you’re lucky. Think about how much money you’re losing over the course of year. Now think about how much that money could help your practice.
It’s insane how much money chiropractors are losing by accepting insurance benefits.
The scary part is, this is a growing trend, and in 5 years from now, think about how many practices will close if they don’t stop accepting insurance. Will yours be one of them?
It’s possible unless you switch to a cash-based practice.
Now that may sound crazy. It may sound ancient.
But for you to truly survive the next decade, you need to begin to transition away from the insurance payments now. You profit more when you’re paid in cash.
Patients may be concerned and not understand, but for your livelihood, you have to do this. And there is one thing that you can do to ensure that patients will actually pay cash.
PROVIDE THE RESULTS!
If you can help them “Feel Better and Function Higher,” become pain free and notice immediate results, that will be worth more than what you will charge them in their mind. And they will pay CASH!
Would you like to begin to transition to cash only? If so, join us at a Grow With Dr. Moe event and really understand the full benefits and how to get started.
To view the schedule and register, go to www.growwithdrmoe.com/events.