Patient Billing Demystified: An FAQ

Patient billing is part of the process of collecting payment before and after each appointment. Ideally, this includes collecting copays up front as well as patient portion after insurance during the appointment itself. Without an effective Preappointment Readiness Plan, your practice could be leaving money on the table. Outstanding patient payments can balloon, leading to write-offs and massive amounts of stress for you and your office manager. But what if there was a better way to implement prevention as the best medicine? Let’s look at five ways you can up your patient billing game.

1. What are some effective strategies for collecting outstanding payments from patients?

Dentists often struggle with collecting outstanding payments from patients. To effectively handle this, consider implementing a clear payment policy, offering multiple payment options, setting up automated payment reminders, and using a collection agency for delinquent accounts. Consistent communication and following up with patients can also help maintain timely payments.

• Transparent communication
  Ensure patients understand what their insurance covers and what they’ll be responsible for out-of-pocket before the appointment

• Payment plans
  Offering structured payment plans can help patients manage their financial responsibility without feeling overwhelmed by treatment costs

• Enforce prepayment in full
  Encourage patients to pay upfront during the appointment

• Sufficient reminders
  Automated reminders can be sent before the due date, helping to ensure timely payments

• Insurance claim management
  Develop a robust system for managing insurance claims and know when to outsource the heavy lifting to collect more
  
  
• Patient education
  Patients are more likely to pay their bills when they understand the value of the treatment they’re receiving

• Follow up
  If a payment is overdue, promptly follow up with the patient. This can be done in a respectful, non-confrontational way that maintains the patient-practice relationship

• Hire a billing specialist
  Consider hiring a specialist when managing patient payments becomes too complex or time-consuming

• Maintain a compassionate approach
  While it’s important to collect payment, maintaining a compassionate, empathetic approach can go a long way in maintaining a positive patient-practice relationship

2. Why is it important to monitor Accounts Receivable (AR) days, and how can I reduce them?

Monitoring AR days is crucial because it directly impacts your cash flow and profitability. A high number of AR days means that it’s taking longer for your practice to collect payments, which strains your finances. One of the best ways to quickly reduce AR days is to bring on specialists who can diligently work your aging. Your staff don’t need to chase down payments or call patients each week to collect.

3. How can I increase my dental practice’s income without compromising patient care?

Increasing your dental practice’s income can be achieved through various means, such as:

• Working on improving treatment acceptance rates
• Being able to offer additional treatment services
• Optimizing appointment scheduling and recall

Cash flow is crucial to being able to streamline all of these processes, which makes outstanding patient payments all the more critical to collect.

4. What role does insurance verification play in ensuring smooth patient billing, and how can I improve this process in my practice?

Insurance verification is crucial in the patient billing process because it helps prevent claim denials, reduces the chances of delayed payments, and minimizes billing errors. No one wants to be stuck with a surprise bill (especially dentists!). As part of your Preappointment Readiness plan, insurance verification puts peace of mind in your pocket. Being able to tell patients what to expect when it comes to paying for treatment is essential to collecting 100% of what you’re rightfully owed at each appointment.

5. How can I train my staff to handle patient billing more efficiently and effectively?

Your staff know how important it is to treat patients with dignity. When having to call about outstanding payments, they can feel like the “bad guy” in the equation. It’s difficult to request payments from patients you know may have reservations about paying in full. Your staff work best when putting patients at ease. Outsourcing the more tedious aspects of patient billing is one of the better ways to put your staff in a position to succeed. The eAssist platform is here to help with that success by:

• Performing patient ledger audits for overall accuracy
• Respectful, cordial reminders for outstanding balances
• Cleaning bad debt from your aging report
• Daily, weekly, and monthly accountability reports for ROI insights
• And more

No matter how large or small your practice, the benefits from collecting 100% of what you’re rightfully owed is essential to keep your practice thriving and profitable. 

Outsourcing to a trusted partner in dental billing

The eAssist platform was created by dentists for dentists, and we know exactly what it takes to get claims processed and patient payments collected. It’s time to invest in peace of mind for yourself and your staff. Schedule a consultation with a Business Development Specialist below today with no obligation. Tell us what your goals are and what you’d like to collect. Our platform experts can help you achieve them without replacing your staff or interfering with your current processes. Consider your eAssist team an extension of your in-office staff, ready to help with committing to their peace of mind and taking care of your patients.