What are the best reasons for you, as a dental practice owner, to outsource dental billing?
First, let’s look at some stats. Did you know that 65% of American-based dental practices participate with insurance? Perhaps this statistic reflects your office, and if so, for good reason. Over half of Americans age 18-65 carry dental insurance to assist in affording oral health care expenses.
Unfortunately, your practice may also fall in line with this statistic: dental offices lose an average of 9% of annual profits if they do not outsource dental billing to an expert service like Dental Practice Enhancement.
Now, let’s explore three important reasons you should entrust your practice’s dental billing to the experts at DPE.
#1: Outsource Dental Billing to Improve Cash Flow
A business needs cash flow to consistently pay for overhead. Denied and delayed insurance reimbursements cut into cash flow and, if not managed properly, can sink a dental practice.
In contrast, if you outsource dental billing, expect to see a reduction in insurance denials and delayed payments. You’ll enjoy more reliable cash flow and peace of mind that expenses are covered, so you can enjoy dentistry and patient interaction. Aren’t these the reasons you became a dentist in the first place?
#2: Outsource Dental Billing to Reduce Employee Stress
Dental Practice Enhancement will handle the billing process for you, from soup to nuts. We’ll produce and deliver patient statements, complete and submit insurance claims–with the proper codes, documents, and records–and follow up on unpaid balances, so your team will never need to have difficult financial conversations with the patients you love.
Furthermore, the average phone time per insurance claim is 52 minutes. If you opt to outsource dental billing, those seemingly eternal calls with insurance companies will be a thing of the past, and your team will smile more because of it. This segues nicely into our next benefit: patient service…with a smile!
#3: Outsource Dental Billing to Improve Patient Service
Even for administrative professionals, trying to understand the legal jargon and verbiage used in insurance documents can cause frustration. No wonder patients have questions!
As your outsourced dental billing experts, we will not only answer patient questions about billing and balances, but we’ll also produce easy-to-understand statements that make patients feel better informed and better served.
We strive to eliminate surprise fees so that your patients will have fewer questions. Ultimately, our professional handling of your patients will result in more trust–an invaluable emotional factor between a dentist and patient.
One last thought…
How much profit did your dental practice earn in 2022? What’s 9% of that number? Statistically, this is the extra money you could have enjoyed, had you outsourced your dental billing.
In addition to improving cash flow, reducing employee stress, and improving patient service, outsourcing your billing to DPE last year would have provided you more income. You could have taken a vacation, added to your retirement nest egg, invested in that amazing new technology you’ve been drooling over, or renovated your home. Most likely, you know exactly what you’d have done with the cash.
Don’t let another year go by earning less than your full potential!
Call Dental Practice Enhancement today and discuss outsourcing your dental billing to us. Call (833) 373 – 3678 ext.1 or email us at firstname.lastname@example.org. We also invite you to connect with us on Facebook or LinkedIn.