The increased adoption of medical loss ratio in the dental industry will have a major impact on dental insurance companies, DSOs and patients in 2024, according to two DSO executives.
These two leaders in the dental industry recently connected with Becker's to share their insights and predictions for dentistry this year.
Note: Responses were lightly edited for clarity and length.
Question: What is your big prediction(s) for dentistry/the dental industry in 2024?
Richard Huot, DDS. CEO of Beachside Dental Consultants (Vero Beach, Fla.): There will be a continuing assessment by all DSOs as to the viability of some of the PPO/traditional reimbursement plans they subscribe to, as medical loss ratio legislation reaches a tipping point in the dental insurance industry, and insurance companies will have to come to terms with trimming their administrative costs, and allocate more money to patient treatment at the risk of losing some large practice groups that would diminish their provider network size.
Alex Morrison. Chief Compliance Officer of Morrison Dental Group (Williamsburg, Va.): States will continue to pressure insurance companies to pay and work with providers to ensure that patient premiums are actively going to support their care. Many practices are having to make increasingly tough decisions on whether or not to remain in-network due to the financial unsustainable nature of reimbursements.