Dental billing can be considered one of every dental practice’s nightmares. Having a single dental office manager cater to treatment plans as well as manage account receivables is a lot to ask of any professional. This doesn’t mean that it is impossible to solve this and other demanding tasks. In this article, we will identify some of the common problems and how you can solve them.
What are the common dental billing issues that affect practice?
More Patients Owing
Without an effective follow-up solution, you will end up with more patients who make away with unpaid bills. Most dental patients are under one insurance policy or another. As these pile up errors are inevitable which makes claims impossible to collect.
As the realization that losses are increasing, the common reaction is to increase the number of patients you attend. The dentist now works overtime in a bid to increase revenue. This is usually not an ideal approach, as collections will remain low, with more patients filing unverified insurance or delaying payments.
Denied Insurance Claims
Unpaid treatments are not the only problem. As insurance claims are denied, appeals need to be made to ensure that reversals or claims are successful and you collect what you are owed.
Not enough time
Billing becomes a heavy burden on practices when only one person has to;
- Patient attention in the office
- Treatment plans
- Calls
- Insurance claims
- Post credits
- Appeals to denied claims
- Manage account receivables
This deprives you and your staff of time to focus on income-generating aspects of the practice. Your main focus will be limited to fixing the many things that are not going right, oftentimes neglecting to pay attention to detail when processing billings.
An affected patient ledger
As the toll weighs on you the office manager, patients are bound to turn away from your practice. How often have you heard, “…their service is good but their billing is terrible…?”. A loss in patients also means a loss in revenue which could, in turn, lead to a loss of your whole business.
Solutions to common dental billing issues
Get good I.T solutions
Investing in simple filing and organizing software solutions. These need not bein in your office. Specialists can be outsourced to your existing team, these virtual team members come in to assist your practice.
While still on the issue of I.T. there is a need to secure your online network should you choose to have one installed. This ensures that patient data is secured at all times. Avoid the advent of costly hacks or mistakes. This also builds trust between you and your patients.
Insource insurance verification.
Close to 30 % of revenue is lost to unverified insurance claims. This means that there is a need to have professionals. As claims get well managed you can spot procedures that rent is covered by a particular policy. This makes it easy for you to tell your patients how to get the best medical procedure they need without the stress of shortfall or denied claims. This also ensures you always see a successful claim.
With a team complimenting your accounting. You get quicker responses on claims filed. This quick turnaround time makes it possible for you to improve your billing. There is also the added advantage of having errors eliminated from all your paperwork.
Virtual assistants save time, time is money
The idea of having a virtual assistant might seem detached from billing but the two are intertwined. When you invest in virtual assistants you clear your schedule and lessen the workload all around. This makes it possible for you to pick out would-be errors and see more of your patients.
In summary when you spread out the workload you get;
- More Expertise in your practice.
- Boosts Speed of applications and claims.
- Increased Revenue.
- Elimination of any kind of Billing Errors.
- Get Organized Data and Analytics.
- Savings on Money.
- Avoidance of Payroll Taxes.
- Focus more on your patients.
Conclusion
With an improved billing system, you can claim without any hindrance, there is enhanced accuracy in all your administrative tasks. You also build better relations with your patients. Also, you have better cash flow protection. There is a lesser risk of not turning over a profit. This guide to outsourcing dental insurance verification can help you begin your journey.
