There are 182,793 dental practices in business right now across America!
That means competition is stiff and dental businesses need to critically look at their operations and strategies to maintain their edge.
While most people associate billing and claims companies with retrieving revenue, collections companies can also enhance their businesses in other ways too.
If you’ve made a new dental practice purchase or are considering owning multiple dental practices, here’s how a claims and collections team can enhance your business.
Allocating the Time and Energy of Your Staff
Dental billing and claims are not for the faint of heart. It’s a full-time job that takes time and specific knowledge to undertake successfully. Many practices fall victim to making billing and claims just another task for an office manager or administrative staff member to complete, on top of all of their other duties.
Not every office staff member is an expert in dental billing and claims codes, and not every payment is simple to obtain. When there are discrepancies, bottlenecks, and persistence and follow-ups are required, it can be easy for claims to fall through the cracks.
Working with a billing company will not only make retrieving money more successful, but it will also alleviate the burden from your staff. This will allow them to focus on the job they know well, and improve their overall performance.
Improving Patient Experience
Experience is everything for any successful business today. Any successful dental entrepreneur knows that dental practices are staffed with people who put in an effort to make patients feel welcome and happy with their practice. But a stressed-out team isn’t going to prioritize finding new ways to engage with their clients. Their focus will be on simply “getting the job done.”
A billing and claims company that you can trust can help alleviate extra, unnecessary stress by putting the hard stuff out of sight and out of mind. The increased stream of revenue can also help support other important aspects of a positive patient experience like staff training, social media, and office design.
Support and Training For Your Staff
Whether you’re looking for a remote team to completely take over your billing and claims for the long-term, or support to fill in gaps of your staffing needs, or your looking for a short-term solution that will get you on the track, a quality billing and claims will be there for whatever you need.
Your staff will need to know the basics of the dental practice management software, and how it integrates into the billing and claims process. If you just plan to have a dental assistant or office manager input the minimum required to get the process going, or want your staff trained to eventually take over the process, we’ve got you covered. We are happy to get as hands-on or off with your staff as you prefer when it comes to training. We’re certified Dentrix and easydental trainers and can provide Dentrix or easydental training to help your team maximize your software.
Creating a More Polished, Professional Practice
Having a solid billing and claims process will amplify the professionalism of your business. The important thing to consider here is the need for an ethical company in order to enhance your business. Choosing a claims and collections company that doesn’t hold strong ethical standards can actually have the opposite effect on your dental practice.
If you have a clear payment policy that is acted upon both in-person and through claims, it will show patients that you’re a serious and organized practice that’s on top of their processes. It’s important for a new dental practice to establish this kind of reputation from the start of their business.
While some dentists are often afraid that asking for money will come off as “pushy”, the opposite is true. It’s common knowledge that a financial exchange is required in order to have dental services performed. Following through with this shows you’re serious about your business.
Creating Cash flow for Neglected Areas of The Business
If you’ve owned and operated a dental practice for years, or are considering buying a dental practice, you understand the importance of cash flow. Hiring billing and claims professionals to recover payments will increase your cash flow. This money can be put into neglected areas of your practice that will ultimately help bring in new patients and grow your business.
For example, modernizing your waiting room or equipment, hiring help with digital marketing, branding, new services, sales and interpersonal training for staff, the list goes on. It takes money to make money, as the saying says.
Are You Ready for Help from a Claims and Collections Company?
If you’re an entrepreneur dentist ready to level-up your dental practice, now is the best time to at least learn more about your options. We offer a complimentary practice consultation, where we’ll get to know you, learn about your goals, and explain what solutions we offer that will best suit your needs.
Better Practice Solutions helps to grow dental practices throughout Westchester, Putnam and Dutchess counties that struggle to get their insurance claims processing optimized. If you have outstanding insurance claims, you need Better Practice Solutions. Click the link to contact us.