
A lot of dental practices’ time is demanded by their patients, which leaves very little room for chasing payments and managing bills. Managing overheads appears to be a struggle. A dental billing company can help practices lower costs, improve employee retention, streamline hiring processes, and enhance billing efficiency.
Revenue loss is the most undervalued and expensive problem that harms the bottom line. The average overhead ranges between 55% to 65%. Recurring denied claims, endless insurance follow-ups with no solutions, billing errors, lost revenue, and wasted hours.
With all of these, it becomes really difficult to focus on patient care. Reducing overhead and increasing profits is the potential of outsourcing to Capline Dental Services. Dental billing put the practice into a confusing situation with coding, supporting documents, and insurance complications. To keep cash flowing is vital to run smoothly and without worrying about payment delays. An error in CDT coding or insufficient documentation can result in claim denials, lengthy appeals, and a loss of thousands of dollars.
Why do coding mistakes occur? Due to insufficiently trained staff, ongoing coding updates, incomplete documentation, and trivial manual data entry errors. These mistakes aggravate over time.
Let’s discuss a few benefits of outsourcing dental billing work without compromising on the quality of care.
Dental billing outsourcing partners are unique, and consider the following when choosing.
Outsourcing dental billing reduces revenue loss and gains a competitive edge in the business. The improved revenue cycle and less than 5% claim denials. Outsourcing acts as a medium that is not tired of chasing payments.
After the dental billing process and claim submission, there is a gap between 10 and 30 days. Getting the bill settled depends on the insurer. Some payers are quicker than others in claim processing.
Outsourcing involves monthly costs. The subscription depends on the size of the posted claims income. The more insured patients, the more income that keeps the growing productivity. There is no recruiting, training, hiring, or paying. Rather, the dental practice pays a small fraction to the outsourced team for what they have collected.
Understanding the difference between cost management and paying a salary is a difficult concept. It differentiates between outsourcing and an in-house team. Employee salary is a mandatory expense, and would cost approximately $45,760 annually.
The idea of outsourcing is associated with high insurance collections and a lower insurance aging report. A system can make claim payments quickly. The insurance claims represent the overall revenue and therefore cannot be pushed.
Dental insurance billing requires highly trained billers and skilled experts. The skill set ensures they close more claims in half the time, which adds up to the revenue. The longer the claim is in the queue, the less likely it is to be paid ever. Insurance companies rely on claim denials. Invest in Capline Dental Services so that patients get the full attention while we take on the challenge of handling the billing tasks.