Office managers have firsthand knowledge of the many challenges involved in managing the billing process for specialty dental practices. From handling insurance claims to tracking patient payments, dental billing can be overwhelming and time-consuming. Partnering with a third-party billing service can streamline these processes so that specialty dental practices can operate more efficiently and focus on providing high-quality patient care.
Why Is Dental Billing Challenging for Specialty Dentistry?
Most specialty dental practices would like to be as independent from insurance as possible, but by working with the right credentialing platform like Apex, you can rest assured that we understand how to decipher and explain the approximate specialty rates. This way, you can have the right conversations with the specialists without leaving money on the table. Oftentimes specialists are open-minded to accepting in-network specialty fees if they understand what the fee schedule might look like in advance.
Verifying patient insurance coverage and managing claims is another area where issues can occur for specialty dentists. Every patient’s insurance plan has different coverage levels, exclusions, and pre-authorization requirements. This is particularly true when you are performing services that are often not covered or only partially covered by insurance. These issues can lead to confusion and high claim denial rates that make running a dental practice even harder.
Why Should You Consider Outsourcing Dental Billing?
Existing Expertise
Third-party billing services specialize in managing the billing processes for a broad range of dental specialties. Because they work with complex billing situations on a daily basis, their teams have a deep understanding of specific coding requirements and billing standards. By outsourcing your billing, you can leverage that expertise to ensure accurate and compliant billing while reducing your workload at the same time.
Streamlined Insurance Verification
A third-party billing service can handle time-consuming insurance verification processes on your behalf so that patients understand their obligation ahead of time. Thanks to a variety of tools, outsourced billing services can quickly verify patient insurance coverage and obtain any necessary pre-authorizations.
Easier Collections
Outsourced billing services can also improve patient communication and collections for your specialty dental practice. Third-party dental billing services can provide your patients with clear and concise explanations of their insurance benefits, out-of-pocket costs, and available payment options. If needed, they can even handle other aspects of collections, including sending out statements and following up on overdue accounts.
Better Cash Flow
By outsourcing your specialty dental practice’s billing, you can improve your practice’s cash flow and financial stability. Professional billing services know how to maximize reimbursements and ensure timely payments. Accuracy and timely claims submission can reduce the risk of cash flow disruptions from delayed or denied claims.
Simplify the Billing Process with APEX Reimbursement Specialists
Whether you’re looking for a way to make revenue cycle management at your dental practice 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.