A vast majority of patients depend on insurance to cover their healthcare expenses. For a dental practice, reimbursement from insurance companies keeps the cash register ringing. For successful claims, the initial step is insurance verification.
When insurance verification and billing are properly done, claims get processed faster resulting in reimbursement for the practice. In addition to the care and treatment, financial transparency also leads to patient satisfaction.
Among the many factors that lead to patient satisfaction, insurance verification is critical. A few reasons why it is important to handle insurance verification effectively.
A claim denial is a major setback for a dental practice. A denial can occur for multiple reasons. The dental team must check all details of the patient’s plan including coverage details, services excluded, and family members covered, among others. Verification must ideally be done before a patient visits the clinic. By verifying details upfront, the dental practice can avoid the anguish of a claim denial.
No patient wants a surprise when it comes to payment for services and procedures. When a patient’s insurance plan is verified, all details about the plan can be revealed. Hence, no unexpected bill needs to be generated that would cause anxiety to a patient as well as unnecessary interactions with the insurance provider.
Moreover, if patients know the financial outlay of the treatment in advance, they can plan on tapping into their resources accordingly.
Results and service are what patients expect when services or procedures are received by them. When a patient has a complete comprehension of insurance coverage and out-of-pocket expenses, there are no surprises, and they leave the practice happy and contented with the complete experience. This raises trust and confidence in the dental practice and leads to higher patient satisfaction.
Verification of the insurance policy enables a patient to have quality access to treatment. Confirmation of policy details will determine if a specific procedure or service is covered by the plan. It can also suggest other optimal treatments that are covered by the plan.
This helps prevent a delay or refusal of care and enables a patient to get the required treatment at the earliest. Moreover, it can help a patient understand the financial outlay if a treatment is requested that is not covered by the policy.
Insurance verification helps to lower the administrative load on patients and the dental practice. A streamlined and efficient verification process reduces the time spent on paperwork and offers an easy and pleasant experience.
Insurance verification has a bearing on operational efficiency too. It helps dental practices to allocate resources strategically. It curtails patient delay times and administrative burdens and ensures on-time follow-ups that can result in operational excellence.
Knowledge of patient insurance plans in advance enables the practice to manage time and resources better. If a specific treatment needs prior authorization, it can collect details about it before the arrival of the patient and thus save time for everyone.
The practice can also schedule patients in need of immediate care but do not have adequate policy coverage. They can then get the necessary treatments without any delay.
Insurance verification is vital in the commitment to patient care. It ensures that the practice also acts as a caring enabler to the patient. When verification is made a priority, a dental practice can drastically lower claim denials, ensure financial transparency, and most importantly, increase patient satisfaction. This results in a win-win situation for all the parties.
