How much time do you spend every week at your dental practice dealing with billing, claims submission, and resubmitting denied claims? How much more time could you be spending on growing your practice and providing excellent care to your patients instead? For many practices, there comes a time when billing becomes so overwhelming that they consider getting outside help. When is the right time to hire a third-party billing service?
Your Claims Are Frequently Denied or Delayed
If you’re noticing an increase in your rejected or unpaid claims, your billing processes may be failing you. Whether it’s due to coding errors, lack of follow-up, or missed deadlines, consistent problems with claim denials can severely hurt your cash flow and your practice’s ability to survive. This is a strong signal that it may be time to hire a third-party billing service to prevent future issues. When you hire a third-party billing service, you gain access to professionals who specialize in dental billing. They stay updated on coding changes, payer policies, and best practices, which reduces errors and ensures claims are submitted correctly the first time.
Your Team Is Overwhelmed
Dental office staff have to wear many hats over the course of the day, from checking in patients and answering phones to managing billing and resubmitting denied claims. If your front office is struggling to keep up, it can lead to burnout and expensive mistakes. When billing becomes too much for your in-house team to manage, it may be time to hire a third-party billing service. These services work with practices like yours all day, so they know how to get the job done correctly and efficiently.
Your Cash Flow Is Inconsistent
Inefficient billing practices can lead to erratic or delayed revenue, even when your appointment slots are full every day. If you find that your revenue is unpredictable, a third-party service can streamline your billing operations. This can accelerate claims processing and improve your cash flow so that you can more accurately budget. Many practices that hire a third-party billing service report faster reimbursements and reduced outstanding balances.
You Want to Grow But Don’t Know How
As your practice grows, so does the complexity and volume of your billing. More patients mean more insurance providers to work with, more claims to file, and more denials to appeal. If you’re expanding your services, hiring more providers, or opening a new location, it might be the perfect time to hire a third-party billing service to support that growth without stretching your internal resources. Third-party billing services are also great for practices that are growing rapidly, as you can scale them up or down based on your current needs.
When Is the Right Time for Your Practice?
There’s no one-size-fits-all time to hire a third-party billing service, and the right time for your practice might vary based on the factors listed above. There’s nothing wrong with getting outside support, and practices that hire a third-party billing service often find they can grow more confidently, collect more consistently, and focus more intently on patient care.
Make Billing Easier with APEX Reimbursement Specialists
If you are ready to make your billing process less of a headache with third-party billing services, 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.