Any successful business can comprehend why a dependable revenue pipeline is needed to stay healthy and generate a continuous cash flow. Timely payments are possible when billing is prompt and there is a sustained follow-up at regular intervals with patients. This ensures that all pending dues are cleared at the earliest.
The dental practice with its team of dentists and staff spends a large quantum of time on managing patients and offering the best services possible. Effective usage of time and effort to undertake routine administrative jobs such as dental billing, processing insurance claims, or even dental patient billing services can then considerably enhance the performance of a dental practice.
This, in turn, benefits the practice by lowering costs and saving time for the team, and ultimately leading to a quality patient experience.
Billing accuracy is critical and the generation of user-friendly statements is a must to ensure the revenue cycle is managed with utmost efficiency. Using the services of a dental patient statement company can help the practice focus on core competencies while letting arduous tasks like billing and patient billing be managed by the outsourced specialist.
Many practices have a notion that there is a steep price to pay for revenue collection even when it comes to genuine and forthright patients. Apart from the cost of collateral for billing and follow-up, there is a large volume of time that gets spent. Customizing patient statements also takes time and effort. However, the practice must conduct a systematic method to retrieve all dues as cash flows depend on it.
The need for dental billing patient statements
Patient statement services are an integral part of the billing process and can help boost revenues when effectively done. Sending dental patient billing statements is a part of the revenue cycle management of a dental practice and allows it to keep abreast of pending dues.
Simple statements work well with patients as they could get perplexed with complex dental and insurance jargon. It also lowers the time and effort patients have to spend dealing with billing issues. It also benefits the business by creating trust and equity in the dental practice.
A few tips to make statements work effectively are as follows:
Clear and simple statements
Statements provided to patients must be easy to understand and clearly outline the services offered to the patient as well as treatment dates, costs, and insurance adjustments.
All statements must be sent immediately post the patient’s visit or once the claim has been processed by the insurance organization. This curtails any confusion or doubt and facilitates a faster resolution of doubts or discrepancies.
Use broad and legible fonts that make it easy for patients to read the statement. One must avoid using italics or underlining sentences as such formatting options could make it look unprofessional and cause a possible distraction.
Customized for the patient
When sending statements, it needs to incorporate the patient’s name or contact information to revert if needed. Personalizing all communication adds a touch of warmth and trust.
All costs that include copayments, deductibles, and other out-of-pocket expenses must be featured in the statement as it builds trust and reduces ambiguity.
Patients must be provided with multiple options for receiving statements whether through email, regular mail, or any recognized patient portals. This helps to cover all preferences across the patient base.
Useful text must be included that communicates the insurance coverage, benefits, and financial responsibilities of the patient.
Incorporate flexible payment options, installment plans, or financing options if available to help patients make timely payments.
Usage of technology
Adopt software that streamlines and automates the billing process and is integrated with patient records. Such a step can minimize errors.
Ask for feedback
One can ask for patient feedback regarding their experiences across treatment and billing as such feedback can help to improve and refine processes or services.
Periodic audits of billing processes can help detect unwanted weaknesses and iron out any inefficiencies while scouting for opportunities to improve.