One of the biggest challenges faced by dental practices is optimizing reimbursements. Even if you’re doing an excellent job and taking as many patients as you can, claim denials can leave you struggling to stay afloat. Navigating the complex world of dental insurance reimbursements can be overwhelming, but with the right strategies, you can streamline the process and improve your reimbursements.
Plan for Appointments Correctly
Before any patient visits your practice, verify the patient’s insurance coverage and benefits. Understanding the patient’s coverage helps you set realistic expectations with the patient and avoid unexpected claim denials. Clearly communicate the patient’s financial responsibilities, ensuring they are aware of any out-of-pocket expenses. Insurance verification also makes sure that you have essential patient information written down correctly, like the patient’s legal name instead of their common name.
Always Use the Right CDT Code
Accuracy is essential to improve your reimbursements and avoid claim denials. When you are not using the correct CDT codes, insurance companies are not going to correct you! There are dozens of code changes made every year, so staying on top of the latest updates is also critical. Coding correctly helps to boost your practice’s revenue, as you’ll be getting first-time approval on reimbursements that may have gone unpaid in the past.
Maintain Proper Documentation
Accurate and detailed documentation is critical for successful reimbursement. Ensure that all patient records, treatment plans, and procedure codes are carefully documented. Thorough documentation helps in justifying the necessity of dental procedures to insurance companies, which reduces the likelihood of claim denials. Make sure that you have a good system for maintaining patient records so that you’re able to access information in the future if a question arises.
Review Claim Denials Promptly
To improve your reimbursements, your dental practice should also have a system in place to review claim denials promptly. Denied claims slow down the reimbursement process. Identify the reasons for denial, rectify the errors, and resubmit the claims with the necessary corrections and documentation. By regularly monitoring and addressing denied claims, you can significantly improve your practice’s reimbursement rate over time.
Look for Billing Inefficiencies
Efficient billing practices will also help to improve your reimbursements. Streamline your billing process by setting up clear invoicing procedures and ensuring timely claim submission. Regularly review your billing workflow to look for any inefficiencies. Implementing efficient billing practices not only accelerates reimbursement but also improves your overall dental practice.
Improve Your Reimbursements with APEX Reimbursement Specialists
Whether you’re looking for a way to make the insurance verification process easier or hoping to improve your overall patient communication plan, APEX Reimbursement Specialists is here to help. Contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.