It begins by matching your costs with your procedures and 3rd party payors.
ProfitSocket uses a proprietary AI cost allocation model that pulls data from your PMS and accounting software to uncover the key procedures and payors that drive your practice’s profitability— and exposes those that don't. We deliver unique, actionable and novel insights for smart practice change.
3rd Party Payor Mix
Understand the working impact of insurance contracts on your chairtime. Know the effects of dropping an insurance plan.
Payor Contributing Profit Margins
Know which insurances add to your profit and which ones take away based on patient visits and procedures provided.
Profit Waterfalls
Allocate costs according to treatment type to know what procedures are most profitable.
Adjustments and their Impact
Track and reduce insurance adjustments. Understand their impact in relationship to procedure costs.
Insurance quietly controls payouts and preserves their profits through specific codes and fee reductions.
-15K
Monthly losses on hygiene and diagnostic procedures
-210K
Annual losses due to chairtime used on bottom 10 plans
-32K
Annual loss on posterior class II composites
-4K
Monthly loss per provider for a specific dental payor
+6K
Additional profit that could be made by employing different codes
ProfitSocket discloses
financial drivers that truly impact profitability:
Practice Expenses
Payor
Reimbursement
Procedure Profitability
Provider Performance
