While many dental practices hire dental consultants to maximize their reimbursement potential, boost their bottom line and protect themselves from audits, every insurance provider is not enthusiastic about cooperating. In reality, the relationship between dental consultants and insurance companies can be mutually beneficial.
Insurance companies rely on accuracy from dental practices when credentialing, recredentialing and submitting claims. Companies devote time, effort, auditing departments and plenty of employees to ensure accuracy and make sure that the company is paying for services rendered. When dental practices are correctly billing procedures, submitting paperwork and completing claims, it makes the entire process simpler for insurance companies. The accuracy that a dental consultant works to improve helps everyone involved in each transaction. How much lower could an insurance provider’s bottom line be with a more moderate amount of practice oversight and an increased reliance on high-quality, skilled dental consultants?
Partner with High-Quality Practices
Insurance providers rely on customer satisfaction in the same way that dental practices do. If patients have negative experiences with the dental practices in a network, they will be more likely to take their business elsewhere. As a result, it behooves providers to have a high-quality practice base. One survey of patient loyalty to dental practices found that patients rated their loyalty a 1 on a scale of -100 to 100. For comparison, the financial services rating has a 39 rating, and the retail sector has a 46 rating. Improving loyalty to dental practices and insurance companies is a priority for both parties. Dental consultants work with practices to improve the quality of billing procedures and increase precision. Aside from saving providers time and money, it also strengthens the quality of the insurance provider and the happiness of their customers.
Ensure a Mutually-Beneficial Relationship
Insurance providers and dental practices work together to connect patients with excellent dental care. Instead of interpreting the addition of a dental consultant to the provider-practice relationship as an attempt to only benefit the practice, providers should see it for what it is—a way for both parties to get the best possible results from their relationship.
APEX Reimbursement Specialists Is a Skilled Dental Consultant
If you want to learn more about how APEX can help your practice improve your numbers and gain more insight into how you’re doing, contact our team today by calling (410) 710-6005. We look forward to working with you to make your practice a more profitable place.