With the inception of technology and other advanced procedures, operating a dental business has become quite simple and hassle-free. However, there is still room for improvement as far as record keeping and patient management is concerned. Billing and collection has always been a challenge but this can easily be overcome if you follow the below given tips:
Stay Up to Date With the Coding Changes
We have discussed this earlier too. Coding allows insurances to understand whether certain procedures should be reimbursed, reduced or strictly denied. Therefore, it is extremely important that practices don’t make any errors while coding.
Using the wrong coding could result in a claim being denied even though the actual service provided to the patient is covered by their insurance. To prevent such errors from happening, it is important for practices to review and note the changes for codes and understand how they are affected. Coding updates help to innovate ways for receiving reimbursements and address new procedures. These could be changes in material or even technology.
Owing to plentiful regular changes, our billing specialists keep themselves pre informed to ensure that they bill and code the procedures accurately.
Collect Co-Pays in Full
Collecting payments and co-pays at the time of service is best for both the patients and the practice. A huge bill after a procedure could be more difficult to pay, therefore, practices must collect copays and inform patients of policies. Effectively communicating to patients that payment is expected at the time of the visit can eliminate potential excuses. You should also train your staff members on the importance of collecting payment before patients are seen.
Unpaid balances are sometimes bound to happen in a dental practice. It also may be unpleasant to ask patients to pay their outstanding balances but as far as maintaining the revenue stream is concerned however, practices must adopt this practice or better revenue cycle management.
Approving Procedures That Require Pre-Authorization
Before opting an expensive procedure, the provider must know what all is covered under a patient’s plan. It helps in determining if there is something the patient needs to cover as an expense. There are many patients who are unable to cover the cost of their portion of the procedure. However, there are a few who may think a procedure is fully covered by insurance, however, the patient is responsible for the uncovered portion. If the patient is pre-informed and offered a payment plan before procedures, he would be able to manage the payment terms and conditions.
Billing challenges will continue to evolve, but if you follow the right procedures and address shortcomings, it becomes easier to handle. At Capline, we have the best billing experts hired to take care of your practice’s billing and collection needs. Don’t let your practice suffer, get in touch with us and give us a chance to manage your practice’s billing requirements.