The most prominent trends in dental billing and insurance to expect in 2023 are being driven by the rise in inflation and the impact that it is having on dental premiums. The fact that 65% of dental practices accept dental insurance makes it imperative for practice owners to: (a) understand the potential ramifications not just on profitability, but on operations (i.e., dental billing and patient billing), and ultimately patient satisfaction and, (b) take steps NOW to prepare for and manage these trends in ways that mitigate negative impacts.
- Dental insurance plan enrollment is on the rise
- Coordination of benefits will be even more important, and even more difficult
- Fully insured vs. self-funded plans will continue to add to the confusion
- Employers are offering more attractive benefit packages to recruit and retain talent
Dental insurance plan enrollment is on the rise
Despite a decrease in those enrolling in medical insurance, dental insurance plan enrollment is on the rise… and set to continue growing through to 2027. Patients already have a dizzying array of dental benefit plans available to them, and many more continue to evolve. In fact, it is not uncommon for patients to have more than one insurance plan. Whether or not you consider this a positive or negative trend relative to YOUR practice, it is a reality and will continue to be for years to come.
How do you best manage this trend? As more of your patients use insurance, as more of them have multiple plans to be deciphered and cross-coordinated, as more complexities arise (e.g., a convergence of health and dental insurance plans) — the more you need skilled dental billing specialists on your team.
Coordination of benefits will be even more important, and even more difficult
As just discussed, patients have more options than ever before when it comes to dental insurance coverage, and many have the opportunity to have coverage with multiple plans. Consequently, coordination of benefits across multiple insurance carriers and plans will be more important than ever — and increasingly more complex.
The purpose behind coordination of benefits is to prevent overpayment when a patient is covered by more than one insurance plan. The critical initial step is to determine which payer the claim should be sent to FIRST. Determining this correctly is not for the faint of heart, and certainly not for the inexperienced dental billing team member.
How do you best manage this trend? The dental coding and administration experts at Practice Booster offer customized 1:1 training on coordination of benefits using EOB examples from YOUR practice. To learn more CLICK HERE.
The eAssist Dental Billing platform can help
eAssist’s award-winning dental billing platform offers your practice a knowledge base of 10,000+ years of billing experience and practical office management skills that can help your office navigate current and future dental insurance trends. This means you can free your in-house staff up to setting and reaching goals that truly grow your practice. Commit to adding dental billing and insurance specialists to your team to increase your revenue by CLICKING HERE!
