The financial processes at your dental clinic are all nicely implemented and appear to be running smooth.
Are they actually running smooth, or you’re missing things due to the massive workload at your dental clinic? Well, there’s a great possibility of the latter because most of your staff must be busy handling scheduling calls, verifying insurance benefits, appealing for delayed and denied billing claims, and so on.
The truth is – your financial processes are suffering greatly because of all the pressure, and you’re certainly unable to collect 100% of what you owe. Outsourcing your operations to the best dental billing solutions can definitely unburden your staff from the overwhelming loads of work. They can handle the majority of the critical operations of your clinic to let you focus on what matters the most – delivering quality patient care.
Still unsure how outsourcing to the DentalRevu dental billing services could benefit your practice? Take a look at these questions and if your answer to any of these is positive – outsourcing dental billing is definitely the best thing for your dental practice!
- Have you missed collecting copays from the patients, and they’ve walked out because the front desk professional was busy on a call with an insurance company or something?
- Do you receive enormous phone calls from the patients asking about statements at your dental clinic?
- Do these phone calls generally take more time than they should because your calling agent doesn’t exactly know how to explain the benefits, etc.?
- Is there a stack of outstanding collectibles from your patients at the end of every month?
- Are you receiving bad online reviews from the patients, and they talk about your improper financial statements?
Well, imagine your staff providing exemplary treatment to your staff, your calling agent answering all the queries, your clinic receiving all the copayments, and you being able to deliver the perfect patient care. And with all that happening – your collections are also meeting the exact percentage of what you produce and financial processes running perfectly smooth at the back.
How Does DentalRevu Dental Billing Services Help Collect All That You Produce?
DentalRevu is a leading company providing the best dental billing solutions to all its clients. We have the top industry professionals hired in our team. Each of them comes along with years of industry experience and knows exactly how to manage your bills the right way.
From collecting patient information adequately and verifying their insurance benefits to creating and submitting the perfect dental claims – our experts ensure to perform every operation the way your practice could uplift and collect everything produced.
How To Determine If You’re Not Collecting 100% Of What You Produce?
As we talk about whether or not you’re collecting 100% of what you produce, the question how to determine that automatically appears in our minds. And that’s a very genuine question to be curious about.
The answer could be complex, for it’s a two-way situation. If your financial expectations are not being met –it could be either because your practice isn’t producing in alignment with the goals or because you’re not collecting 100% of what you produce.
Going back to the question – we have to determine if the practice is collecting all it produces. So, our situation is the latter one. And there’s a simple answer to it – if the number of patients you’re serving and the amount of income you’re expected to receive does not meet the amount you receive at the end of every month – you’re boomed.
In addition to that, outstanding copayments, delayed and denied claims, etc., are major representatives of the situation. If you have them in stacks at your dental practice – you’re definitely not collecting all that you produce.
What Factors Can Cause A Decline To Your Collections Percentage?
Managing everything at your dental clinic is exhausting. You might lose track of some critical operations, and boom – you’ll end up facing financial constraints without even knowing.
Here’s the list of some factors that could cause a decline in your collection percentage. Take a look at them and be prepared to manage them the right way to avoid losing what you owe.
You’re Not Collecting Copays From The Patients Upfront
A lot of clinics have this practice – sending electronic bills to the patients once they’ve left. Well, it might seem advanced to you –
there’s a great possibility of your patients not paying against those electronic bills. It’s human nature to delay payments that aren’t called for upfront. Also, they might miss the email you’ve sent and completely forget they had to make some payment at all.
The outcome is – you’re losing your money and eventually leading towards being in major financial constraints.
You’re Being Too Caring and Nice
As a dental practitioner, you might feel sensitive about your patients. It’s totally alright to feel that way but giving them leverage on payments could only result in your loss. Your industry is definitely different from many other businesses; the primary purpose is certainly the same: to earn maximum revenue.
If your patients get angry at learning how much they owe to you or act surprised – that’s because you haven’t properly discussed their insurance benefits and copay with them. It’s good to be nice and caring with your patients, but not in the case of bills.
You shall inform them about their copays in detail before the treatment gets started and must discuss the way they’d like to pay. Sometimes, they might need installment plans to clear their copays, and I think that’s certainly better than collecting all that you owe in a few months rather than losing it all completely.
You’re Sending Incorrect Insurance Forms
A very common factor that leads to a declining collection is incorrect insurance forms. Verifying your patients’ insurance benefits the right way, creating accurate claims, and submitting them with all the protocols – it is all a hectic job. And making mistakes is common in such situations.
Now, if you’ll send incorrect claims to the insurance companies – they’d definitely delay or deny payments – leading towards declined collections at your end. DentalRevu dental billing services can save you from the hassle, for our experts can create and submit the most accurate billing claims.
You’re Neglecting Your Insurance Ageing Report
An insurance aging report is a list of outstanding payments. In simpler words – a list of insurance companies that owe you money. Maintaining such a report can help you stay informed about your receivables and so you can keep reminding the respective companies over time.
However, if you neglect insurance aging reports – you’re more likely to oversee companies that owe you money and end up facing a major decline in your collections.
Maintain A High Collection Percentage With Our Dental Billing Services
A high and maintained collection percentage is integral to the success of your dental practice. It reflects that you’re actually meeting all the production goals and also collecting 100% of what you produce. It represents you’re moving towards exponential growth and expansion.
If you also want that to happen, tackling the above-mentioned factors is very important. As soon as you’re able to manage these factors, your collections will automatically begin to rise – reaching 100% of what you produce.
Does it seem a lot to handle all the stuff while providing quality care at your dental clinic? It’s totally perfect to feel that way because of the immense pressure and workload. However, you can easily sort that up by outsourcing your operations to one of the best dental billing solutions.
The experts from our team can handle everything. From collecting payments from your patients upfront and avoiding the nice factor when it comes to billing to sending the most accurate billing claims and managing proper insurance aging reports – we do it all with perfection.
The core purpose of our services is to ensure you collect 100% of what you produce, and we ensure that is achieved no matter what.