There are a number of challenges involved in running a dental practice, not the least of which is collecting dental bills. Patients who fail to pay their bills on a timely basis or not at all can wreak havoc on your books, and collection activities can be a drain on your administrative resources. For this reason, more and more dentists are choosing to outsource their medical billing. You can determine if this is the right option for you with the advice and guidance of an attorney who provides legal services to dental professionals. In the meantime, this article is a brief discussion on the benefits of outsourcing medical billing can provide to your dental practice.
Medical Billing 101
Regardless of the reasons for patients not making payments, outsourcing your medical billing can help to expedite the payment process and keep your books and records on track. Medical billing providers are professionals whose sole responsibility is collecting money owed to your dental practice. Ultimately, outsourcing your medical billing provides you with a number of benefits including:
- Reduce Clutter — Because medical billing requires a lot of paperwork, outsourcing all of those documents will give your practice a more orderly appearance and free up space for new patient records.
- Eliminate Retraining — If you have one person doing your medical billing in-house, it is likely no one else knows the proper procedures, which means training someone else to handle medical billing if your medical biller becomes ill or suddenly resigns. By outsourcing your billing, a team of people will be working for you consistently and employee turnover won’t disrupt your business.
- Reduce Unnecessary Calls to Your Practice — Dealing with billing issues can be stressful, as well as a distraction when a receptionist is pulled into an argument with patients over their bills. Outsourcing will reduce those unnecessary calls and enable your staff to focus on patient care.
- Be Up-To-Date on Reimbursement Rule Changes — Billing companies are usually prepared for reimbursement rule changes because they frequently interact with insurance companies.
- Fewer Billing Errors — If your office is handling a large volume of paperwork, there is the potential of errors – outsourcing to a medical billing company will lead to fewer mistakes. Accurate billing practices will not only be helpful for you, but will also improve patient satisfaction because patients will be able to trust you and your staff.
- Access to Organized Data and Analytics — By outsourcing your billing, you will receive organized reports, which will better equip you to track revenue and cash flows.
- Cost Savings — Because there is no need to hire someone to run the billing department or to purchase billing software, outsourcing your medical billing can help to reduce costs.
The Bottom Line
In the long run, dental professionals who outsource their medical billing can improve the efficiency of their offices, reduce administrative expenses, ensure that bills are paid promptly, and maintain revenue streams. A well-run practice will also lead to greater patient satisfaction, and patient care is the bottom line.