Dental RCM Services If you’ve noticed a decline in your bottom line, it might be due to old-fashioned approaches to monitoring payments, collecting overdue amounts, and handling arrears. Without a dental RCM team to pursue overdue payments and guarantee efficient RCM, all RCM dental clinics will eventually run into the same problem. Most of the time, dentists are overburdened with both office work and direct patient care, which leads to a decline in both areas.
Revenue is erratic, and there are constantly overdue bills to chase down. A huge undertaking for a single doctor or clinic. Dental practices often find themselves in dire straits without Dental Revu’s dental revenue cycle management services. When you choose us as your dental practice’s RCM service provider, we will collect payments, follow up with late payers, keep track of all financial transactions, and more.
Dental RCM Services and Products
Dental Revu has worked with dental care offices and institutions where there is chronic RCM delinquency that required extensive follow-up and resolution. Professional RCM specialists ensure the scalability and dependability of our services. With us handling the paperwork, you’ll have more time to devote to care delivery and other matters. The dental RCM services offered by Dental Revu primarily consist of the following:
The Handling of Bills Payable in RCM Dental Clinic
Invoice processing, itemized invoice coding, cost matching, etc. are just a few of the accounts payable services that we provide at FWS. If you want to make sure everything is in order with your RCM‘s finances, this service is performed nightly.
Accreditation of RCM Dental Professionals
We will handle the paperwork and enrollment with the insurance company’s network necessary to obtain your practice credentials on your behalf. Obtaining credentials is not a one-and-done deal, so we’ll let you know when it’s time to do so again.
Removing Past Due Accounts
If you haven’t updated your AR in a while, it might be giving you inaccurate results because of the continual addition, deletion, and alteration of data. Clerical mistakes can occur when new data is entered that shares characteristics with existing data. Thus, we search for this kind of information by thoroughly inspecting your AR system.
Assistive Technology: A Follow-Up
When money is tight, it’s hard to get back on track with payments you’ve been putting off. Thus, we’ll go into the account flow to find the overdue invoices and processing mistakes that have stalled out payments so far. We’ll identify strategies to speed up payments to your income stream once we’ve tracked down all of your receivables.
Managing Payments Including Posting, Adjustments, and Denials
Perhaps the withdrawal’s payment has been processed, but if receivables have been recorded to practice accounts, payment capture is not yet complete. That’s why we’ll keep track of the money, post it to the right account, and provide a paper trail to prove that we got paid. If you have a stack of claims that have been denied but haven’t been processed yet, we can fix any paperwork mistakes or missing paperwork so that your claims are accepted.
Upkeep of Charge Sheets
By keeping up-to-date with the charge schedules set by the payers, billing errors may be prevented at their source, leaving no room for rejections and reducing the likelihood of them affecting your practice’s bottom line.
RCM Dental Eligibility Verification Checking
Eliminating obvious mistakes at the source is one way to lessen the load of reviewing case files that were initially denied. The first step is to verify the patient’s eligibility so we know they can see the doctor. We’ll see if Medicare will pay for some of the services the patient needs. This keeps you from having to provide service and then pursue reimbursement from the insurance company or the patient for the remaining balance.
Process for Managing Dental RCM Cycle
We at Dental Revu have perfected the art of Dental Revenue Cycle Management in a way that meets all the rules. In addition, we adhere to a rigid procedure that allows practices to collect the funds they are owed and maintain a robust RCM. Our workflow looks like this –
Discussing and Collecting Needs
First and foremost, RCM is determining the requirements of the customer. Together, our staff and the customer will pinpoint the RCM issues that need fixing.
Evaluation at the Outset
To determine the current state of the RCM and ensure its continued viability, our project managers will conduct a preliminary evaluation.
Three-Step Document Optimization and Synthesis
Claims paperwork is pre-downloaded in bulk and stored in the cloud.
Benefits Explanation (EOB)
We will obtain the EoB from the insurance company, which will provide a detailed explanation of the coverage and exclusions.
Control through Ignorance
We will address the current denials by addressing the deficiencies and filing new claims electronically in the required format since we are a leading dental revenue cycle management firm.
Recommendations and Reports
Once RCM is finished, we will leave a paper trail that you may use to review the status of the project.
Competitive Dynamics Among Dental RCM Providers
Over the next several years, competition in the worldwide revenue cycle management industry is likely to intensify. Opportunities are abundant now and will only grow in the years to come, both in established and developing economies. McKesson Corporation, Cerner Corporation, Epic Systems Corporation, Allscripts, NextGen Healthcare Information Solution LLC, CareCloud Corporation, and The SSI Group, are the current leaders in the worldwide revenue cycle management industry.
FAQ:
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What is Dental RCM?
The process through which your dental office processes and accounts for the money it receives is known as its revenue cycle management. Like a wheel, it must keep revolving in order to progress, hence it might be considered a cycle. The engine that drives the whole thing is your method of managing the revenue cycle. Revenue in a dental office comes from two main places: clients and insurance companies.
The success of your RCM hinges on how well you handle these two income streams. These two processes are intertwined and mutually dependent, yet they are addressed in quite different ways. They have a significant impact on your cash flow depending on how you handle them.
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How to Boost your Dental RCM?
One of the best ways to boost your revenue cycle is to hire professional revenue cycle management services. Dental Revu can handle your billing and insurance verification for dental services. Experts taking care of these aspects of the RCM cycle frees up your staff to focus on providing excellent dental care to patients and filling appointment times. In addition, using an RCM service is usually more cost-effective than employing a full-time in-house dental billing expert. With this method, you may increase your revenue while decreasing your expenses.
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Where to Find Dental Practice RCM Services?
Dental Revu is a valuable asset when your dental office needs to outsource its dental RCM services. Set up a conversation with us now to find out how our specialists can improve the success of your practice.