As the year winds down and the holidays approach, many practices see changes in patient flow. Some patients rush to use their benefits before they reset in January, while others postpone care until after the new year. This makes the months leading into the holidays a critical time to get organized, optimize your insurance processes, and review your fee schedules. Taking a few proactive steps now can help ensure that your dental practice ends the year strong and starts the next one on the right track.
Review and Update Your Fee Schedules
Fee schedules are one of the most important financial tools in a dental practice, yet they are often overlooked until problems arise. Insurance companies periodically update reimbursement amounts, and failing to check your schedules could mean your dental practice is being underpaid for services.
Before the holidays, take time to:
- Request updated fee schedules from the insurance companies you work with. Compare them against what you’re currently billing and adjust where needed.
- Identify discrepancies where your fees may not reflect current market values. Outdated fees could leave money on the table, especially for common procedures.
- Evaluate your top procedures. Make sure your fees for high-volume treatments reflect both the value of your services and fair reimbursement levels.
By addressing these issues ahead of time, your dental practice will start the new year in a stronger financial position.
Help Patients Maximize Their Year-End Benefits
Many patients don’t realize that their dental benefits expire at the end of the calendar year. A gentle reminder from your office can encourage them to schedule appointments now, instead of waiting until January. How can you help?
- Send reminders. Use phone calls, texts, or emails to inform patients about their remaining benefits and encourage them to book an appointment before their coverage resets.
- Educate your patients. Share how preventive care or completing a treatment plan now can save them money in the long run.
- Train your team. Ensure your front desk and insurance coordinators understand how to check patient benefits and explain them clearly.
This approach helps patients get the care they need while also boosting year-end production for your dental practice.
Audit Your Insurance Processes
The end of the year is also an excellent time to take a closer look at how your practice handles insurance claims. Unresolved claims, frequent denials, or inefficient workflows can delay payments and create stress during the busy holiday season.
Tips for auditing your insurance process include:
- Identify outstanding claims. Follow up with insurance providers on claims that haven’t been paid and resolve any missing documentation.
- Look for trends in denials. If you’re seeing the same issues repeatedly, whether it’s coding errors or missing details, create a plan to fix them going forward.
- Streamline communication. Make sure your team has a clear system for tracking claims and keeping patients informed about their coverage and costs.
By tightening up your insurance process now, your dental practice can reduce delays, increase cash flow, and lower stress for both your staff and your patients.
Make Billing Easier with APEX Reimbursement Specialists
Dental billing doesn’t have to be a source of stress and lost revenue. With the right partner, your practice can benefit from outsourced dental billing in multiple ways. 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.