Dental billing should not be a source of stress for you, your patients, or anyone in your office. If it has become a touchy subject or the thing that keeps you up at night, it may be time to outsource your billing.
In the post-COVID world, outsourcing has become more common than ever, and the trend is not expected to slow down. In fact, by 2027, outsourcing is projected to be a $405.6 billion dollar industry, reflecting a compound annual growth rate (CAGR) of 8.0%. Outsourcing certainly has benefits for workers in the midst of a pandemic, reducing exposure and disease transmission rates. But it also has untold benefits for business owners, including owners of multi-million dollar companies and small, privately owned businesses like your dental office.
1. As a Doctor, You’re Doing the Dental Billing Yourself.
You spent years in dental school training for your profession. Presumably, you became a dentist because you are passionate about patients and medicine, not medical billing. But with the difficulty in retaining employees during “the Great Resignation,” you may have had to take on some of the administrative work just to keep your practice going. Even if you find that you like billing, you likely don’t have time for it. It’s stressing you out, keeping you from fully engaging with your patients, and probably taking up your nights and weekends. If you are doing any of the billing yourself, this is a red flag that you need some outside help!
2. Your Employees Seem Unhappy.
Even if you are not doing the billing, your office staff may be overwhelmed with the task. This is especially true if you have a small staff. When only one person is managing the desk, scheduling appointments, answering patient questions, and keeping things running, billing can seem like a crushing burden. Does your office manager seem strained? Discuss major workplace stressors and try to pinpoint the problem. If billing is an issue, outsourcing may be the solution.
3. Your Practice Is Plagued by Insurance Mistakes.
Insurance companies often make sudden changes to their policies. Unless you have someone in your office who focuses solely on billing and stays up-to-date with every change, it is highly likely that errors will occur. It may be possible to rectify these mistakes, but meanwhile, your patients have received huge bills in the mail. They’ve lost trust in your practice, and you have lost valuable business.
When you outsource, you will be working with a highly trained expert who focuses on billing. You can enjoy greater peace of mind, knowing your patients are in the best possible financial hands.
4. Your Office Budget Is Tight
If office finances are strained, outsourcing can save you some valuable funds. Even if you do not have a separate insurance coordinator, the cost of in-house dental billing can start to stack up. Billing software and the necessary updates can be expensive. Furthermore, whenever there is employee turnover, you also have to deal with the cost of training a new staff member. When you outsource, your billing specialists are already fully trained and ready to get to work immediately.
Outsource Your Dental Billing to a Top Administrative Company
Outsourcing can be an important step in protecting the financial stability of your practice, as well as your wellbeing and that of your employees and patients. To learn more about virtual dental billing services from Dental Practice Enhancement, call (833) DPE-FOR-U or contact us online.