According to the National Association of Dental Plans, an estimated 164.2 million Americans have their dental healthcare covered by insurance companies, a figure that has increased by 20 percent in the previous decade.
These figures reflect the staggering growth of the dental sector, with a large number of patients in the United States opting for low-cost dental care.
Dental practices that understand dental billing have the best chance of promoting their product and assisting patients with insurance coverage to receive the best dental care.
Do you know what the word “dental billing” refers to? Dive into this blog post to learn everything there is to know about dental billing and how it may help your practice flourish!
What is Dental Billing?
Dental billing is a comprehensive process that encompasses every step a dental office may take to collect compensation from the patient’s insurance provider.
From ensuring the bill claims have correct CDTs to receiving payments from the insurance companies in time, dental billing focuses on the backend operations of clinics.
How Does It Work?
The dental billing process may appear to be straightforward, but it is made up of many smaller processes, each of which is critical and must be completed correctly. Successful dental practices recognize that dental billing is a team effort.
From the doctor to the billing administrator, clinical notes, periodontal charting, and even radiographs – every detail is important in preparing a clear and valid billing claim.
Furthermore, confirming a dental bill claim is a necessary yet time-consuming task. It entails reviewing everything from the information included in a billing claim to the insurance company details so that the claim is not rejected, thereby delaying or canceling payment.
The Processes of Effective Dental Billing
Since each stage in dental billing is critical for success, we’ve put together a step-by-step procedure of effective dental billing to assist you in comprehending the complexities.
1. Appointment Creation
An efficient dental billing procedure should begin as soon as people schedule their visit. It is the dentist biller’s job to schedule an appointment after gathering all of the patient’s insurance information.
2. Data Entry to the Dental Billing Software
Once the appointment is set up, enter all of the patient’s insurance information into the dental program. It aids in the maintenance of each patient’s record, which can then be used for future visits.
3. Insurance Verification
The verifier is in charge of checking with the insurance company to ensure that all of the information provided by the patient is correct.
At the same time, interrogating them further about the treatments covered. If the information does not match, the verifier must return to the patient and begin again.
4. Dental Claim Creation
Following the verification of the information, the next step is to create a dental claim. It is a critical process since all of the information included in the claim must be correct or the claim will be rejected.
Rejected claims are the leading source of payment delays or even obsolescence.
5. Dental Claim Submission
It’s time to submit the claim now that it’s been carefully crafted. Within twenty-four business hours of the patient’s therapy, an ideal dental biller submits legitimately confirmed claims to insurance firms.
6. Payment Reimbursement
Following the submission of the claim, the respective insurance provider is required to reimburse the payment within the specified time frame.
If an insurance company delays payment, it is the dental biller’s job to make follow-up calls and remind them of the payment.
7. Payment Posting
After the payment has been repaid, the next step is to enter it into the patient’s ledger and close the case.
The Role of Dental Billing in the Growth of Your Practice
Dental billing is a prevalent technique in the United States for recouping payments from patients’ insurance companies.
Though the process is required for any dental practice that accepts customers with insurance coverage, performing it correctly can help your practice flourish like never before.
Here’s how effective billing help your dental practice reach some incredible heights:
1. Higher Patient Influx
With an increasing number of Americans obtaining dental health insurance policies in the current times, a dental office must modify dental billing in order to service the majority of patients.
As a result, implementing effective dental billing could offer you a greater influx of patients, allowing you to grow your dental business like never before.
2. Increased Patient Satisfaction
Adopting an efficient dental billing technique streamlines your collections and ensures that you receive all of your payments on schedule.
It significantly reduces your financial load and gives you peace of mind, allowing you to focus on providing great patient care and, ultimately, maximizing patient satisfaction and growing your practice.
3. Maximized Revenue
Effective dental billing is an excellent way to increase revenue for your clinic. Because dental billing is a method of simplifying all of your insurance company collections and getting them reimbursed on schedule – it automatically maximizes income. It allows your practice to expand like never before.
Dental billing is a standard practice that any dental practice that accepts insurance patients must follow. Those who practice it well, on the other hand, have a distinct advantage over competitors due to greater patient influx, increased patient happiness, and, of course, maximized revenue.
Because dental billing is a complex and time-consuming process that necessitates a great deal of experience and knowledge of dental billing and coding, it’s always a good idea to engage some dental billing professionals.