05 Feb Do you love your practice? Then do something nice. Give your practice an update and increase your revenue!
Every day they’re there; every day they are allowing our front desk and our front management to do what they do best. And eAssist does what it does best.
-Scott Dudley, DMD. M.S.Ed. FAGD, Elite Dental
One very good reason why eAssist services are in such great demand is that the billing systems(insurance and patient) in so many dental practices are so antiquated that it slows the revenue cycle down to a crawl. The systems are outdated because they haven’t changed in years or decades in some practices.
Large balances in the 90-day accounts receivable are over 10%(industry benchmark)(30% average) which means that less money is in your pocket. Insurance claims that need appeals and more information are too old to file and your patient is angry that you haven’t gotten it resolved.
Statements are still sent out at the end of the month, with no due date and are aging past 90-120 days with less chance of collecting at each day. This method has been around a long time–it doesn’t work so why do you keep doing it?
What do we do that is different from what your business staff does?
We have dedicated teams to meet the needs of your practice. Our teams attack the 90-day accounts and clean them up when we work simultaneously on the 60-day accounts to keep them from aging.
What frustrates so many practices is that the front office is a hub of activity that involves answering the phones, checking patients in and checking patients out, interacting with team members and the crisis that can happen when people are out sick or are going to be late for any reasons, entering data including insurance verification that creates proper charts necessary before any notes or treatment planning can be entered and more. With the business and drama of the day, the accounts receivables and the aging insurance is just a detractor from the face to face issues of the day.
Outsourcing your billing system is your way of moving into spending more time doing dentistry and isn’t that the goal of having good business systems?
Why is something so smart a hard sell? Money. Dentists already strapped by lack of cash flow see outsourcing business work as frivolous or a failure of the front office staff. Outdated and dangerous thinking.
Studies show that outsourcing dental billing actually costs less than hiring an insurance coordinator and is far more effective than pushing your business manager to the breaking point. Take a look at some numbers:
Hiring a skilled and dedicated person will cost you at least $15 an hour plus benefits and taxes. This person is usually unsupervised and very busy while lacking direction and accountability. They are paid whether they are accountable or not.
Hiring eAssist is based on our accountability. You don’t get paid, we don’t get paid.
You have nothing to lose by asking. By not asking, you have a lot to lose. Let’s talk.
Dental Billing Tips and News for Pros; Edition #132