Do I Need a Dental Billing Specialist?

With all of the new technology available to dental practices, it seems like we’re reinventing the wheel each day. Outsourcing dental billing is the future of investable ROI for your practice, and it pays to know the difference between someone who is committed to your bottom line versus just theirs. Finding the right dental billing specialist can feel like swimming through a pool of very big fish. There is a lot of information out there and a lot to learn. Let’s talk about some of the biggest questions you have and need to know before taking the first step into the world of outsourcing.

Question: What are some of the most common challenges that my billing staff face?

Answer: You don’t always need to directly ask your staff if having an insurance specialist would help save time, increase collections, and consistently work your aging. All you need to do is take a look at your AR and determine for yourself. When your staff are taking care of patients each day, what happens to your patient accounts and AR? Wondering how to get back what’s rightfully yours? Let’s continue to break down the tangible advantages of outsourcing.

Question: How do I know when I need to think about outsourcing?

Answer: The signs and symptoms of lost profits come in many forms, primarily:

• Collection rates at 95% or less
• High accounts receivables
• Frequent claim denials or rejections
• Billing errors
• Lack of standard operating procedures for claim submission and appeal

If you’re in doubt, ask your office manager. They’ll tell you about rejected claims, endless appeals, and a lack of consistent collections as the number one cause of stress in the office. As dentists, we may not fully appreciate the bigger picture of when our staff are struggling. It is our job to ensure that our patients are happy, and that starts at the front desk.

Question: What are the advantages of outsourcing dental billing services?

Answer: Having an insurance specialist on your team can help improve your practice’s finances by streamlining the billing process, reducing billing errors, maximizing insurance collections, and improving cash flow. There’s no need to worry about whether or not that next claim will see quick reimbursement. There’s no need to keep up with yearly code changes that directly affect every claim you send.  The peace of mind that is possible with the right specialist is second to none.

Question: What should I look for in a dental billing specialist?

Answer: When looking for someone to outsource to, you should look for someone who has experience in the dental industry, is knowledgeable about dental billing codes and regulations, and is committed to providing excellent communication. As well as this, achievable brand promises and transparency in accountability is crucial to see ROI from your investment.

Question: What kind of services does a specialist provide for me?

Answer: When there is a need, there is a solution. Your specialist can potentially provide a range of services to benefit your practice, including:

• Insurance verification
• Accounting and bookkeeping
• Patient recall and retention
• Patient billing
• Credentialing
• And more

The primary reason dentists choose to outsource is having a dedicated team member to work on the aging report and collect 100% of what is rightfully owed to your practice. Plus, there’s no need to hire, fire, or train additional staff. The eAssist Dental Solutions platform hosts the dental billing specialists your practice requires when you want to increase collections.

Question: How can I evaluate the effectiveness of a billing specialist?

Answer: Once you’ve made your decision, monitoring key performance indicators (KPIs), such as billing accuracy, revenue collection rates, and accounts receivable turnover are a great way to track progress and confirm ROI. Luckily, some platforms offer you an accountability and transparency check when it comes to collections reporting.

Question: How can I know that my billing specialist is staying up to date with changes in billing codes and regulations?

Answer: Your practice is only as effective as your knowledge, and every front office manager knows and understands the complexities in dental billing. Each year, codes are changed, added, removed and updated in seemingly endless ways, and the headache of keeping up with it all can prove frustrating on top of other tasks. Comprehensive coding tools such as Practice Booster’s Coding with Confidence serves as a premium guide to getting claims paid with the proper coding for each procedure.

Question: What are the steps I need to take to outsource my dental billing?

Answer: Outsourcing your dental billing is one of the best ways to fully optimize and streamline your practice for success. Whether you need help with an extensive aging report or just require a more accurate picture of how increasing your collections can help your bottom line, eAssist can support you. Consult with a Business Development Specialist today to outline a personalized dental billing plan for your practice.