Insurance can be an overwhelmingly complex topic. Benco Dental Director of Coaching Kay Huff simplifies the process for dental practices in four steps.
Huff emphasizes the importance of staying on top of technology, fees, follow-ups, and your practice team.
Save time with technology.
“While adopting technology into your practice has a definite learning curve, you will quickly see the benefit of time (and frustration) saved from staff using electronic methods to complete tasks. Since most insurance companies provide online patient portals and supporting software, your team should become adept at utilizing these portals to submit attachments and verify benefits electronically rather than faxing and calling to complete such tasks which can be overly time consuming. If additional software training is needed, this is one investment worthy of doing so. ”
Ultimately, use the systems function of the technology puzzle piece to increase precision and decrease opportunity for human error as both factors affect profitability.
Manage fees, manage your bottom line.
Since insurance companies pay out a percentage of a set fee on procedures, make sure you are billing out your standard fee not a reduced fee. With your standard fees in mind, use fee reporting resources provided by entities such as the National Dental Advisory Service (NDAS) to research dental procedure fees charged in your area by zip code or review dental fee surveys from the American Dental Association (ADA) and set a benchmark to be in the 80th percentile (or higher) of these fees and do this review annually. Additionally, once a year, identify your 30 most-billed or utilized procedures and negotiate increases on these procedures with insurance companies. Finally, set an office calendar to alert your team to update fees internally and with insurance bi-annually. Instituting these strategies will help you stay profitable, organized and efficient in your billing strategy which is a huge piece of the puzzle.
Follow up with your team.
If you have already assembled a team that is trained, empowered and capable to run your office (with a smile, no less) you’ve accomplished something to be cherished. If not, this is your new goal!
You can provide additional leadership by working with your team to create a written and well-defined follow-up procedure that also attaches team ownership to its function. We know that processes can fall through the cracks, especially those involved with insurance; we are human after all. However, pinpointing and finalizing tasks like reviewing outstanding insurance account receivables, billing completed procedures to insurance reports, and managing aging reports can truly lead to the success you’ve conceived.
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Kay Huff is the Director of coaching for Benco Dental.
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