Is your dental office's productivity being swamped by patient volume, billing challenges, and reduced reimbursements because of government healthcare reform? If your profitability has plateaued lately, you may be looking for new business strategies that can help you scale to demand and boost your revenue streams.
Believe it or not, dental billing software could be just the boost you are looking for! Aside from helping your collection rate go up, your account department will code more efficiently, including implementing a better grouping of common procedures. How is this possible? Read on to find more!
Dental billing software is a must-have digital tool for any successful practice. Because this type of billing requires specialized coding that's unlike standard medical codes, without it, it's vital to your operations to minimize human errors, adjustment denials, and missed claims.
If you want to improve your staff's efficiency, increase your collection rate, and provide more flexible patient options to encourage quick payments, you need this digital tool. In addition, many dental companies that rely on this technology have it integrated with their existing dental practice management software. This means a shorter learning curve for their team and an immediate benefit to their patients.
If you haven't done so lately, take a few moments to consider your current billing process and how it benefits your dental office. Do you see anything lacking in its features? Such as automated billing reminders or SMS linking to your payment processor?
If yes, consider the following advantages that modern dental billing software brings to the table that antiquated systems do not.
For many patients who have outstanding balances, all it takes is a little added convenience to collect what they owe. Billing software like Adit Pay has the option to include automated reminders on SMS texts with a quick link to your preferred payment processor.
So, instead of waiting until they get home or until they call in a payment and take up more precious productivity time on non-billable tasks, make accessing their account and payment options a breeze. Just click a link on their mobile phone or tablet, and your office gets paid. Patients can even save card information in a virtual wallet to use later without entering all the details again.
Instead of logging into three different locations on your computer, digital billing software brings it all under one roof. Simultaneously view payments, refunds, requests, adjustments, and more in one central location on your network. This empowers your team with crucial information and tools to stay ahead of potential account issues and keep payments timely.
Platforms such as Adit Pay integrate with your practice management software to automatically record received payments directly to your patient's account file. This saves time for your billing staff and streamlines their already busy workflow, creating more time to focus on getting new receivables coded.
Another way that dental billing software improves your practice's revenue is by automating your entire payment reminder process. Make better use of your productivity by avoiding sending out individual statements, making follow-up calls, and writing separate emails to insurers or patients. This is time better spent on patients, processing new treatment claims, and more.
With all of the advanced features that come with dental practice management tools, it's also vital to safeguard your patient's sensitive information. Whether receiving, transmitting, or storing this data, HIPAA requires specific encryption and safety protocols to protect against unauthorized access to EHR and PHI.
Dental billing software typically meets and exceeds these expectations.
Efficiency is often the biggest factor impacting how much revenue your dental office earns each year. By processing insurance claims through a digital platform instead of faxes and emails, you can shorten the reimbursement wait from a couple of weeks to a few days. This is because most billing platforms can automate the validation process and send your claims electronically.
Need to include supporting documentation? No problem. Just like an email message, you can attach important information like X-ray imaging and photos with just a few mouse clicks.
Another prominent feature your billing platform might offer is real-time status updates on a patient's insurance eligibility or claim. Having the ability to monitor the progress of your reimbursement requests means more control over your revenue for the month. Stay ahead of potential claim issues by verifying patient eligibility before they ever arrive. This means better treatment plan preparation and reduced denials.
Your end-of-the-month billing cycle doesn't have to be a three-ring circus event. Code, generate and send account statements via text message or email to the address on file. Even better? Your team can quickly customize notifications with reminders and other follow-up requests and distribute them in one batch instead of individually.
Much like practice management technology, your dental billing software will play a crucial role in how your busy practice achieves its financial goals. Improving your revenue metrics by reducing claim denials and late payments is just one advantage these platforms provide. If your current PMS doesn't have an integrated billing feature to support collections efforts, you're missing out and losing money!
Before deciding on a software that is best for your dental company's needs, incorporate these factors in making your decision:
Let's understand the various points you should consider before opting for dental billing software.
Again, you need a digital billing system that provides a higher level of functionality that can scale to future collection needs. This means managing claims in both electronic and paper formats, having HIPAA-compliant encryption, and performing consistent backups to protect the integrity of your data.
Remember, to boost revenue with your dental billing software, focus on patient access and payment flexibility. This means transitioning collection efforts to channels beyond email and physical statements in the mail.
Leverage user-friendly text messaging options to provide an added level of convenience that doesn't require a computer to log in. Instead of wasting time making individual phone calls, automate this aspect of your communication and insert one-click links to your preferred payment processor and patient account access.
While you probably don't want to break your budget purchasing a new billing system, don't make pricing a top factor in your consideration. Thousands of providers offer little to no startup costs, but the support may only be a short wiki link on the Internet and no live technicians.
Lower priced or free billing software options may seem appealing, but many of these products have limited functionality and outdated features that don't integrate with your current PMS. This is why it's best to choose a product that best fits your financial needs and worry about cost last.
If you already have an efficient and up-to-date practice management platform, but there aren't any billing features, you'll need a software integration. This will save your team the shock of transitioning to an entirely new PMS and create a quicker onboarding period, so downtime is minimal.
There is a lot of billing software on the market to choose from, so be picky about who you choose. Ideally, pick a company that has dental industry experience. Their products will address the most common challenges you face when trying to improve your revenue.
Firms like Adit also provide continuous improvement of their products to meet the ever-changing demands of your practice. So always choose a partner for the long haul that can provide scalable solutions.
In the world of cloud-based technology and automation, learning how to navigate your new dental billing software could be confusing at first. Ensure that the provider you choose offers more than just onboarding training. Your accounts team may need additional support tracking and analyzing data reporting as your business expands. It's also important to establish a supportive relationship so that your team is just a phone call away if your team has any technical issues.
Ready to use a dental practice management platform that boosts revenue and provides in-depth analysis and marketing support? Adit provides a comprehensive dental practice management software that incorporates cutting-edge features, including:
Our extensive offering of digital tools helps you find the solutions you need to make every department in your organization efficient and profitable. Trust our team to help you onboard quickly and scale our platform as you grow, so your dental company always utilizes the latest practice management technology.
Request your demo today and discover how your revenue and other operational processes can benefit from Adit Pay and our other service features.
Angela is a former English teacher turned marketing content specialist. Over the past 10 years, she’s developed marketing strategies to forge enduring bonds between B2B, B2C and SaaS companies and their clients through holistic education, effective communication, and captivating storytelling that moves audiences to act.
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