A Guide to End-of-Year Dental Billing

It’s time to wrap up business for 2023 and plan for 2024. Of course, this can be the most stressful time of year in the dental industry. In December, we’re busy treating last-minute patients, reconciling accounts, and planning for the new year. It’s certainly overwhelming. To help ease your mind, here’s a simple guide to end-of-year dental billing.

Evaluate fees and plan PPO negotiation 

When billing insurance companies, it’s essential to maximize your reimbursement. If you are in-network with PPO plans, you will want to review your contracted fee schedules annually. At the end of the year, evaluate your fees to find out if they should be higher. If you’re being underpaid, plan to renegotiate your fees early in the new year. PPO negotiation is extremely beneficial to any dental practice. It’s also very involved and time-consuming. Consider partnering with a PPO negotiation service, such as Unitas, to ease your entry into the new year.  

Learn CDT code updates 

CDT codes are an essential part of billing and they are ever evolving. With each new year comes new code updates. There will be 16 updates in 2024. Included are 14 new dental codes and 2 revisions. You should familiarize yourself with the updates before the new year. That’s easier said than done when you consider there are already over 800 CDT codes. Be sure to have on hand a coding companion, such as Dental Coding with Confidence from Practice Booster, which has already been updated for 2024. 

Obtain 2024 ADA claim form 

All dental claims are billed on a standard ADA claim form. The form updates every few years and with 2024 comes a new update. On January 1, the new form will be released and will eventually be required by all insurance carriers. To be proactive, obtain your copy of the 2024 ADA claim form now so you can start using it in the new year. This way you can avoid any claim rejections due to an outdated claim form. 

Deposit outstanding payments

If you have a healthy dental practice, insurance payments should be coming in daily. Most insurances pay via EFT, but some still send paper checks. When multiple payments arrive daily it can be easy to fall behind. If you want to make sure you finish the year with a healthy A/R deposit all outstanding payments. If you’re struggling with deposits and reconciliations, consider outsourcing with eAssist to ensure you won’t leave any money on the table.  

Handle patient credits, refunds, and outstanding balances  

When patients come to the office multiple times a year their account ledgers start to be filled with plusses and minuses. At the end of the year, it’s time to review these accounts and take care of any credits, refunds, and outstanding balances. If they have a December appointment, be sure to apply the credit to it. If they don’t, send them a refund. On the other hand, if they have an outstanding balance it may be time to send their account to collections. Review the account and decide if this is in your best interest. It’s best to start the new year with every account at a zero-dollar balance. 

Bill every claim 

Dental claims should be billed daily. Often, as offices get busy, especially around the holidays, that’s not the case. Although this happens, make every effort to bill every claim by the end of the year. The best way to start the new year with a clean slate is to have all the previous year’s claims billed. The end-of-year dental billing push can make all the difference. If you’re struggling with keeping up with your dental billing, consider outsourcing it. At eAssist, our Sucess Consultants can assist any size practice with their billing needs. 

Assess this year’s performance and plan for next year 

As the year draws to a close, you’ll want to make a final assessment of your office’s performance. Review your financials to see where you’re standing. How’s your A/R? Your aging claims report? Your insurance collections? Your patient collections? Your outstanding balances? All of these areas should be reviewed with your practice owner and any area in need of improvement should be of primary focus in the new year. 

End-of-year dental billing can be highly stressful but also highly rewarding. Not only can it ensure that your office generates as much revenue as possible, but it also allows you to start the new year right. If you’re struggling at the end of the year, consider partnering with eAssist. Our Success Consultants are highly experienced dental billers who bill your claims quickly and correctly, leaving you free to enjoy the holidays with less stress. To find out more, complete the form below.