Operating a respected dental billing service for years, we’ve learned that most dentists would prefer to treat patients all day, every day, instead of having to deal with the administrative necessities of running a dental office. Administrative duties, like billing and collections, have nothing to do with the passion that drives dentists to care for people–the reason they became dentists. As important as the air we breathe is to sustaining life, dental billing and collections are essential to dental practice success and profitability.
In today’s blog, we’ll share five secrets to help your dental practice improve dental billing and collections. Partnering with Dental Practice Enhancement is the first step to reducing your administrative workload. We will streamline your practice’s dental billing and collections with efficiency and a high rate of return.
Here are the five secrets you need to learn, to improve billing and collections at your office.
Secret #1: Verify Dental Insurance Before Every Procedure
The act of verifying benefits prior to performing every procedure will help you and your patients. A patient may assume that his or her dental insurance covers more than it actually does, in which case the patient may be left with a bill he or she cannot afford to pay. If your practice’s insurance specialist understands and can explain the actual benefits, the patient will know what to expect and can make an informed financial decision.
Secret #2: Broaden Your Accepted Payment Methods
Electronic payments must be accepted by your office, and today “electronic” covers more than credit cards. We now have PayPal, Venmo, Cash App, Apple Pay, Stripe, Square, and more. Consider polling your patients to determine which payment platforms they use most often, then adjust your accepted payment methods accordingly. Convenience is key! A patient is more likely to pay before leaving your office if he or she has the opportunity to choose from credit card, check, or online payment platforms.
Secret #3: Offer Payment Plans and Financing Options
Payment plans can help boost your cash flow and improve your patients’ ability to pay for larger treatment plans. Offering a two- or three-month payment plan could make the difference between a patient accepting a larger treatment plan or postponing treatment, perhaps indefinitely.
In addition, if you don’t accept CareCredit, consider doing so. This low- and no-interest financing option takes the burden of carrying a balance due off of you and places it in the hands of a bank, where it belongs!
Secret #4: Follow Up with a Genuine Smile
If the your office regularly follows up with patients in collections, and does so with empathy, friendliness, and compassion, you’re more likely to get paid. The adage is true: you catch more bees with honey!
Secret #5: Stay on Top of Your Revenue Cycle or Hire a Dental Billing Service
It’s all too easy to allow your revenue cycle to get bogged down in billing and collections. This has happened to the best of dentists! To avoid the trap of mounting collections, consider partnering with Dental Practice Enhancement. While your team manages the day-to-day administration and customer service in your office, and while you do what you love–take care of patients, we can take over and manage your billing and collections.
Reach out right now to Dental Practice Enhancement. We are a respected and experienced dental billing service, and we want to help your revenue cycle remain consistent. Call 833-373-3678 ext. 1 or email info@dentalpracticeenhancement.com today.
