Every dental service provider needs to have an efficient process for keeping their practice financially healthy. This is where revenue cycle management comes in.‘Revenue Cycle’ is a term used by dental practices to manage the admin and other necessary functions associated with claim processing, payment and revenue generation. In simple terms, it can be defined as the process that dental practices use to pay the bills. As a dental service provider, you often expect immediate payments from your patients for all the diagnosis, treatment and services you provide. However, in most cases, this is not as straightforward as it looks. The process starts when a patient makes an appointment to seek dental services and end when the claim and patient payment has been done.
What Exactly Is Revenue Cycle Management?
In brief, it is the process that your dental office has to go through to track the earnings from patients, starting right from the first appointment to the final balance on completion of treatment. This process takes a lot of time because most cases end up involving insurance companies which are obligated to pay for the whole or part of the patient’s fees as a part of insurance.
We, at Capline Dental Services, understand that the primary job of a provider is to focus on treatment and patient’s health. This would not really be possible if the practice isn’t financially sound. Revenue Cycle Management is the financial backbone of most dental offices because if the revenue is not managed properly, chances are that your practice will not be in good financial health.
Hence, we bring out new opportunities for dental offices in the form of an effective Revenue Cycle Management (ERCM) so that they do not lose focus from their patients.
ERCM Contributes to Your Success and That Is Indeed a Fact
In today’s age, what’s difficult for a dental office is to generate revenues due to claims which are rejected or delayed.
Capline Service Makes It All Easy for You By-
1. By Reviewing Codes: Our team regularly views the code, analyze and keep abreast with the times to make sure claim denials do not happen in the future. This lets them be in sync with latest codes because one of the major reason for a large number of denials is the use of an outdated code.
2. By Submitting Claims on Regular Basis: We, at Capline, ensure a steady inflow of revenue by submitting regular claims which results in much more effective and efficient handling of claims. Our experts follow-up regularly and consistently to eradicate denials and delays in billing.
3. By Efficiently Handling Denials: All dental service providers should come up with an efficient technique to manage denials and make quick appeals for claims to be settled. There are times when you get stuck somewhere and don’t find much time to address denied claims. In such a scenario, the financial health of your practice gets impacted. That’s where we step ahead by quickly identifying the reason for these denials and then plan out something useful.