The dental industry has undergone a significant digital transformation in recent years, with practitioners facing mounting challenges in managing their financial health. In an environment where efficiency and cost-effectiveness are paramount, outsourcing dental billing has emerged as a key strategy for improved collections and more streamlined dental revenue cycle management. But how do you unlock dental revenue growth? Everything from dental billing services to patient billing and deposit reconciliation can be outsourced. There are quite a few reasons why your practice should consider the benefits. Let’s talk about the keys to unlocking growth and achieving your financial goals.
Unlocking improved collections with outsourced dental billing services
Outsourcing dental billing services offers practices the ability to leverage the expertise of dedicated teams. These billers are adept at navigating the complex and ever-changing landscape of dental insurance. These experts possess in-depth knowledge of the billing process, insurance codes, and regulatory requirements, enabling them to maximize reimbursements and ensure prompt payment. Your billing team is the key to:
- A better claim submission process from beginning to end
- Following up on claim denials or rejections
- A dedicated AR management and collections focus
By handing over the billing process to an external team, your practice can benefit from more consistent cash flow and a reduced risk of loss. This type of variable cost is based on results, not effort. Of course, this means that you are better able to forecast ROI and scale your business with improved collections. eAssist Dental Solutions was created by dentists for dentists, to serve your practice with a pragmatic solution that can help.
Dental billing services optimize revenue cycle management
Efficient revenue cycle management is critical to the success of any dental practice. Outsourcing dental billing services can result in a more streamlined and transparent process. Not to mention the ability to fully streamline your operations in a way that produces end-to-end profit at every stage. Your practice can finally unlock:
- Variable cost based on results with fewer salaries or benefits to pay
- Improved consistency of collection to forecast earnings more accurately
- Reconciliation of incoming deposits from insurance companies and vendors
Your dental revenue cycle pipeline depends on having stringent dental billing processes in place. Without them, you won’t be collecting 100% of what you’re rightfully owed. Consider outsourcing as a personal solution to the problem of decreased or diminishing collections. Remove the ability of your team to become overwhelmed by constant follow up and training. Consider outsourcing to the nation’s leading platform for dental billing solutions.
Reducing staff turnover
Dental billing can be a time-consuming and stressful task, often placing a significant burden on in-house staff. Overwhelmed by the complexity and demands of this responsibility, employees may experience burnout and dissatisfaction, leading to high turnover rates. Outsourcing dental billing services offers your staff a break from the storm of endless insurance billing and can:
- Allow for better staff retention rates
- Offer more time to train or commit to continuing education
- Make your staff the best versions of themselves they can be
By outsourcing dental billing services, you can alleviate this stress on your staff members, allowing them to focus on their core responsibilities, such as providing exceptional patient care. This not only improves staff morale but also reduces the costs associated with recruiting, training, and retaining new employees. Your employees deserve a functional, operational practice that has their wellbeing in mind.
Dental billing services improve claim submission accuracy
Outsourced dental billing service teams are dedicated to staying up to date with the latest industry developments and insurance requirements. Their specialized knowledge and expertise can significantly improve the accuracy of claim submissions, reducing the likelihood of costly errors or delays. You can expect your outsourced team to help you by:
- Implementing a standard operating procedure for claim attachments and narratives
- Utilizing the industry’s leading coding resource to best code claims
- Follow up on any current or past issues to be resolved in a timely manner
Improper claim submission can lead to denials, rejections, and total loss of revenue. Without adequate follow up, your practice can lose money to 30, 90, and 120-day AR. Ideally, your collection rate should be above 98%. Have you thought about if there was a way to get 100% of what you’re rightfully owed? Or have some sort of achievable goal for an outsourced dental billing services team? eAssist Dental Solutions may be able to help reconcile your insurance and patient AR to manageable levels over these time periods.
The financial benefits of outsourcing dental billing
One of the most compelling reasons for outsourcing dental billing is the potential for cost savings. When hiring an outsourced dental billing services team, your practice can benefit from variable cost structures, which means you only pay for the services you need and the results that are provided. This is the key to fully optimizing your processes for scalable profit.
If your practice is looking to enhance its financial performance and streamline operations, consider the benefits of outsourcing your dental billing services. eAssist Dental Solutions is your customized solution to all manner of practice challenges:
- Dental billing
- Patient billing
- Insurance verification
- Scheduling and recall
- Accounting and bookkeeping
- EFT reconciliation
- Consulting and continuing education
- Coding
- Credentialing
No matter what your key financial goals are, the eAssist platform key can help you unlock them. Encompassing nearly every aspect of dentistry, the eAssist platform suite of solutions is ready to implement a better process for you. It’s time to revolutionize the way your dental billing is done. Streamline your processes and optimize your dental revenue cycle with a personalized solution today.
Rob Linder is the former CEO of Espire Dental and an industry leading voice in the world of integrated dental organizations. His experience and education in business management has given him direct expertise in the world of dental revenue cycle management. As COO of eAssist, Rob innovates our platform processes to improve the patient, provider, and payor experience. His strategic processes nurture practice growth, payor member utilization, service affordability, and ease of access to dental care.
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