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One of the biggest expenses when starting a dental practice is the upfront cost of equipment. In addition to dental equipment, you may need furniture, computer systems, medical billing software, and plenty of other items.
Find a reputable equipment salesperson early on in the process. You’ll want to find someone who you can work with to obtain affordable, quality equipment. Just be sure you research all of your options before making any large purchases.
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Looking to get your dental providers in network with all insurance carriers? Needing EFT payments instead of snail mail? If so, please contact Palmetto Dental Credentialing via email for special pricing contact info@palmettodentalcredentialing.com. #dentist ##dentalcredentialing #dentalgrad #dentalinsurance
Network Participation
Network participation is a term used by insurance carriers and insurance networks to describe a doctor’s status with their insurance plan or network. There are 2 forms of participation status a doctor can have with an insurance carrier:
1) In-Network: This means the doctor signed a contract and submitted a credentialing packet seeking to become in-network with a particular dental plan and that the insurance entity verified the credentials of the dentist and accepted the dentist as a qualified “Preferred Provider.” PPO stands for Preferred Provider Organization and PPO Insurance Plans will do whatever they can to drive the members of their network to In-Network providers only. Some insurance companies do not provide out-of-network benefits for their policy holders to ensure that they stay with in-network dentists. When a dentist becomes a Preferred Provider for a PPO insurance plan the dentist is required to provide a discount to patients from that network by accepting the PPO fee schedule. The fee schedule will dictate the highest reimbursable amounts an in-network provider can receive payments on from the combination of insurance and patient payments. The dentist agrees that anything above the fee schedule will be a write-off.
In-Network Provider and Preferred Provider mean the same thing.
2) Out-of-Network: This means the doctor has not contracted with an insurance plan and is not listed in the Preferred Provider Directory for that particular insurance entity. Being out-of-network doesn’t bind the dentist to a contract or a fee schedule when seeing their patients. Patients will have higher out of pocket expenses when seeing doctors out of their PPO network. #dentalpractice #dentalschool #dentalstudents #dentalfacts #dentalcredentialing
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