About 27% of dentists may drop insurance networks this year, according to a new report from the American Dental Association’s Health Policy Institute.
The ADA recently released its “Economic Outlook and Emerging Issues in Dentistry” report for the second quarter of 2024.
The organization asked 769 owner dentists in the report about actions they’ve taken this year, including investing in new equipment and software, adding staff and dropping some insurance networks.
Here is the percentage of owner dentists who said whether they had or may drop some insurance networks this year in the report:
Yes: 24.8%
No, but may do later this year: 26.9%
No, not planning to do this year: 48.2%
Source: Nearly 27% of dentists may drop insurance networks in 2024: Report / Becker’s Dental + DSO Review
It’s been coming for a long time but Dentistry is going to have to start accepting the fact that participating in insurance networks is a ‘fact of life’ and unhappy practitioners are going to lose business by not participating.
Perhaps, instead of crying in their coffee and pouting, like children, professional Dental practitioners and the professional associations representing them need to negotiate smarter in contrast to strategically abandoning patients by choosing to not participate with insurance. Participation abandonment seems childish and I guarantee patients will abandon dentists who choose profit over prudent cost effective patient care.
But that’s a ‘grown up’ decision for grown ups, not adults acting like children.
GROW practices by participating or die on the vine.
Professionals have choices.
Choose wisely.
Negotiate smarter.
It’s just a thought. Y’all have a nice day.