Running a successful, profitable dental practice in today’s economic environment often hinges on how well your team can effectively manage your patients’ insurance benefits and how quickly your office can obtain payment from the many insurance networks that are working with you. More and more dental patients are sophisticated and informed about their dental coverage, they are seeking “in-network” providers, leading to a majority of offices to move away from fee-for-service payment structures and enroll in contracted participation with major PPO networks. This participation will increase the number of insurance members that will choose your office, but it also limits the fees that you are allowed to charge these patients. These fee schedule restrictions make it crucial that you are being paid promptly for the procedures that you are performing. Mistakes or inconsistencies while verifying patient insurance or filing the associated dental claims will result in delays in payment and sometimes outright denial of any payment to your office. The person who is responsible for this crucial task is often asked to focus on this in between other patient-related tasks, leading to errors and omissions that lead to hours of work to obtain payment for your claims.
Consistent focus on your accounts receivable allows our team to always know why your procedures are not being paid. This allows us to prevent these denials from happening, which means more income for your practice. Collections will increase, earning you and your practice more money, even after paying our fee.
Sending your claims correctly the first time will mean faster payments to your office. A “clean claim” will typically be paid in about 3 weeks, meaning your business has more funds to invest in your business.
After your office receives the payment for your insurance claims, this information needs to be posted to the patient’s ledger and the claim must be closed. Your DBS account manager will ensure that all payments and write-offs have been calculated correctly and posted line by line to each procedure on the claim. This line by line accounting will give your reports a higher level of accuracy and will allow you and your team to communicate any balances due to your patient with confidence. Any unpaid procedures will be investigated and appealed as necessary or returned to your office with advice for collection or adjustments.
MORE ACCURATE PATIENT LEDGERS
Since we will handle all aspects of the insurance billing, we are able to enter specific detail to the patient ledger. All payments and write-offs will be organized and itemized. Specific notes will be left on the patient account and unnecessary insurance adjustments will be avoided. In addition to the increased cash flow, you will enjoy the comfort of knowing that your patient ledgers are organized and all supporting documentation is clearly filed in their account. Our team will file and label all EoB’s in the patient account as well as post accurate notes for every payment made to the patient ledger. Your team only has to focus on collecting your patients’ portions and we handle the rest!
OUTSTANDING CLAIM FOLLOW-UP AND APPEALS
While most offices will complete most of the core functions of the first three steps, your insurance aging report is truly where you begin to see the impact of effective dental billing. Your office should only have about $3,000-$5,000 in outstanding balances for every $80,000 of monthly production. The small errors and omissions on dental claims begin to build up over time and many offices will carry many times this amount. Our team of billing experts will monitor your insurance aging reports weekly and will follow up on any claim that has been outstanding for more than 30 days. We will correct and/or appeal any procedures that are not paid the first time and continue to follow up until payment is received. A weekly report will be sent to your office to keep you informed of your practice’s receivables. You will see the impact in your reports as well as your bank account!
OTHER WAYS OUTSOURCING WITH DBS WILL CHANGE YOUR LIFE
STAFF TURNOVER WILL NOT AFFECT YOUR BILLING
Turnover in your office staff can wreak havoc on your practice’s income and billing. If the person who is solely responsible for handling the financial aspects of your practice suddenly leaves or becomes ill, who is left handling these crucial tasks? Are your claims being filed? Are the claims filed being sent correctly with the needed supporting information? How long will it take for you to get another person in this position and trained adequately enough to fulfill these duties? With DBS, your billing will continue unhindered through any change or turnover in your office staff.
BETTER PATIENT RELATIONS
Your team will be allowed to focus on what matters to your patient and selling the treatment that you recommend. Accurate insurance estimates will allow your team to present your treatment plans with confidence and will lead to less confusion from your patients. This will also mean fewer calls from potentially upset patients due to inaccurate insurance estimations or filing mistakes.
REDUCED STAFFING NEEDS
Your current front desk staff is spending countless hours on this task every day. By outsourcing these crucial tasks, you are able to reduce the number of employees needed in the front of your office as well as allow them to focus on the patient interactions that drive your practice reputation. You will now be able to focus on hiring people who excel in patient relations or treatment presentation without having to address the need for billing expertise in their skill set. This allows a much deeper candidate pool to choose from, and also will more accurately define the role these people play in your business.
ARE YOU READY TO COLLECT 100%
OF WHAT IS OWED TO YOU?
Enter your information below and one of our representatives will contact you to get started and get you back to what you do best. We'll take care of the rest.