While quality treatment and service are at the core of any dental practice, dental billing is the financial backbone that keeps the practice running and cash flows flowing.
A dental practice needs a steady income to pay for operational costs. A good understanding of all dental billing fundamentals can help the practice reduce errors, improve the claims submission rate, and drive greater patient confidence.
Regular cash flows and revenue growth are needed for a dental practice to survive and thrive. This can be done by optimizing the billing process for faster reimbursements and higher revenues.
A few steps are to be considered to enhance revenue growth at the practice level.
Switch to automation: The practice can opt to invest in new-age software solutions and have them integrated into the existing solutions of the practice, such as patient management, billing, etc. Automation lowers the chances of errors, reduces the manual workload, and improves efficiency.
Periodic audits: The practice needs to undertake regular audits that aid in the identification of any deficiencies or bottlenecks in the billing process, the presence of coding errors, etc. Such a step also helps the practice to stay compliant.
Training of the team: The team needs to be regularly trained on evolving codes, best practices in dental billing, and liaising with insurance companies. This helps to lower errors while also enhancing overall efficiency.
Outsource billing services: The practice can outsource billing to specialists who ensure timely billing, efficient claim handling, and precision. Outsourcing helps to free up the team for other core activities and reduces the burden of administrative tasks on the team.
To ensure healthy cash flows and revenue growth, mentioned below are 7 key dental billing fundamentals that a dental team needs to know.
The most crucial part of the dental billing process is the collection of accurate patient data. This step makes the entire billing process smooth, quick, and effective. Right from the first visit, the dental team needs to obtain full demographic and personal
information as well as insurance coverage details. Depending on the severity of the case, preauthorization may also be necessary. Any missing details or inaccuracies might result in claim denials and a delay in payments.
The dental team must always verify insurance policy terms and benefits before the patient visits the practice. Very often, the dental team misses out on this crucial aspect of a mandatory check before every visit. One needs to understand patient coverage limits, maximums, exclusions, deductibles, and co-payments. This helps to reduce any billing errors and unpleasant shocks for the patient. Verification is important at each visit because there could be changes or even a lapse in coverage since the last visit. Such a meticulous check results in added trust and satisfaction.
Besides accuracy in data and verification of insurance details, there is another crucial aspect of billing. The usage of the right CDT codes in dental billing is paramount for preventing claim denials and increasing patient satisfaction.
CDT codes in dental care are meant for accurate billing and the purposes of record keeping. These codes are also most needed for insurance claim submissions that are related to dental procedures and services rendered to patients.
CDT codes are used to identify dental services and procedures and services to streamline dental care services and have been developed by the American Dental Association. These codes are generally reviewed annually and are subject to change or modification. This is done primarily to allow for the usage and incorporation of newer technologies and processes. Some codes might even be deleted over time.
The dentist must ensure that they stay aware of all the latest CDT codes and any changes that occur periodically. Staying updated is essential, as knowledge of CDT codes is vital for smooth and efficient reimbursement for the practice. One of the main reasons for claim denials is the use of incorrect or outdated codes. Therefore, effective Dental Insurance Claim Denials management begins with accurate coding and a proactive approach to staying informed about coding updates.
The dental team needs to submit claims accurately and as importantly, on time. This increases the probability of a swift reimbursement. If the dental team misses the window for submission, it could result in claim denials and a potential loss of revenue for the practice. One can also consider using the services of skilled specialists for all matters related to billing and insurance.
The dental team may not have control over claim denials, but it can monitor the submission of all claims submitted for reimbursement and follow up for payments.
A persistent check on submitted claims can help in faster reimbursements and tackling claims that have been denied and are eligible for resubmission. The practice needs to develop a system to track, analyze, and respond to claim denials on a periodic basis. The team can analyze past trends and use such findings to refine the billing process.
The dental team needs to be regularly trained to handle a very crucial aspect of success for the practice, such as billing. The team needs to have the desired skills to tackle dynamic dental billing guidelines, changes in codes, and the use of software. This training helps control human errors and creates better efficiency in the dental billing process.
The practice can streamline the process of dental billing and make it more effective by automating the billing process by using suitable software solutions available in the market. Many of these solutions can be integrated with existing systems in the dental practice.
Dental billing management is not difficult to master if the approach is right. The dental team can use efficient dental billing solutions, and along with an understanding of the basics, they can help improve the revenue cycle. The team can improve operations and financial results by following guidelines and steps that lower claim rejections and enhance patient trust. To increase cash flow, the practice must streamline dental billing and take proactive steps for the best results.
