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Opencare takes the guesswork and effort out of insurance verification.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
As a hard-working dental professional, you want to get paid what you\u2019re worth, right? Unfortunately, many dentists are not collecting as much as they are owed on their dental claims. If you\u2019re one of them, that means you\u2019re missing out on thousands of dollars each month.<\/span><\/p>\n
So how do you find out if you\u2019re collecting what you should be? More importantly, since it\u2019s likely that you\u2019re not, what needs to change to make that happen? Let\u2019s discuss.<\/span><\/p>\n
If you\u2019re not already aware of this, a healthy dental practice should be collecting 99% of production. Because of the monthly fluctuations of insurance receivables and other payment cycles, you shouldn\u2019t measure this over a short-term period. So, look at your collection percentage over a one-year <\/span>period<\/span><\/a>.\u00a0<\/span><\/p>\n
Why is this happening? Who is dropping the ball at your practice?<\/span><\/p>\n
It\u2019s likely that there isn\u2019t one specific reason. Dental billing and claims can be complicated and keeping track of all the little details is time-consuming. What\u2019s worse, many dental office employees simply don\u2019t have the time to be managing it all.\u00a0<\/span><\/p>\n
You\u2019re running a busy practice and your staff is hard at work with many tasks. The front-desk staff, who are usually responsible for billing and payments, wear a lot of hats. They are responsible for promptly answering the phone every time it rings. Plus, they must greet patients with a bright, warm smile and ensure their visit is pleasant from the moment they walk in the door.\u00a0<\/span><\/p>\n
When there isn\u2019t an immediate need with a patient in front of them, they have to squeeze in verifying insurance, scheduling <\/span>dentist appointments<\/span><\/a>, calling about outstanding insurance claims, auditing patient accounts, presenting treatment plans, preparing and sending outstanding patient statements \u2013 and the list goes on. That\u2019s a lot for anyone to manage!<\/span><\/p>\n
Last but not least, you are seeing less-than-glowing <\/span>online reviews<\/span><\/a> from patients upset with the financial side of things. We don\u2019t have to tell you how crucial positive reviews are and watching your average go down for billing issues is disheartening, to say the least.<\/span><\/p>\n
So, it\u2019s time to get more organized about your financials and up your collection rate for dental claims. How do you do it? The first thing is to set clear payment goals. From there, you need to figure out how to meet them.\u00a0<\/span><\/p>\n
The 99% collection percentage that we already mentioned should be your first goal. But how do you improve your collection rate? Your staff is already working hard to ensure you get paid, you can\u2019t just grouch at them to work harder.\u00a0<\/span><\/p>\n\t\t
We settle your claims, so you don’t settle for less.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
It might seem unrealistic to you to reach this standard, but we can tell you it\u2019s not. It can be a little difficult when you task your front staff people with doing it, but not when you take advantage of a service like ours.\u00a0<\/span><\/p>\n
Here at Opencare, through our revenue cycle management service, we take care of the financial side of things \u2013 particularly dealing with insurance companies and explaining patient benefits. We are proud to note that our collection rate is 99% \u2013 a standard we stick to.\u00a0<\/span><\/p>\n
Furthermore, by reducing the burden on your front staff, they\u2019ll be able to provide your patients with better customer service. When your patients walk in, they\u2019ll be met with a bright smile and a greeting rather than someone politely gesturing for them to wait while they finish their phone conversation.\u00a0<\/span><\/p>\n
It\u2019s good bookkeeping to make sure no more than 20% of your accounts receivable are over 60 days old. By sticking to this, you\u2019re ensuring 4 out of 5 of your patient accounts are paying on time.<\/span><\/p>\n
However, keep in mind that the <\/span>aging report<\/span><\/a> in your computer program will probably only track from the date of service, not the date of the last payment. The date of the last payment lets you know if the patient is keeping up with the payment plan you arranged with them.<\/span><\/p>\n\n
We are dedicated to helping dentists succeed at providing their patients with a high standard of oral health. With Opencare, patients can <\/span>find a dentist<\/span><\/a> near them that we\u2019ll select and match to their preferences. This ensures you get a quality lead when we send you a new patient.\u00a0<\/span><\/p>\n
Plus, when you take advantage of our <\/span>revenue cycle management<\/span><\/a> service, you can take all the headaches out of the financial side of your business. Improve your collection rate and enjoy all the proceeds of your work the easy way.<\/span><\/p>\n