The primary reason for loss or declined revenue at a dental practice is insurance claim rejection. Patients getting surprised notifications of a co-pay is a reason why patient satisfaction tends to decline. Therefore, the lack of adequate dental insurance verification has the capability to create unbearable challenges for a dental practice.
Dental insurance verification is a critical operation and also very crucial for amplified practice growth. A prominent reason why dental insurance verification appears so important is that it contributes majorly to your revenue stream.
A rightly managed verification system could lead to no denied and delayed claims, timely payments, and an improved revenue cycle. However, an inefficient dental insurance verification system can cause massive cases of claim denials and delays – leading to a damaged revenue cycle.
Since outsourcing is a popular term in dental practice, with most backend operations of a clinic being outsourced, it is always a good idea to consider outsourcing dental insurance verification. From streamlining your verification process to improving the revenue cycle – it can help you in several different ways.
Wondering how does outsourcing dental insurance verification exactly contributes to an improved revenue cycle? We’ve got you covered with all the details in this blog post.
Here’s How Outsourcing Dental Insurance Verification Helps To Improve Your Revenue Cycle
There are several ways outsourcing dental insurance verification can help your practice, and each of them directly contributes to an improved revenue cycle.
Take a look at these and get inspired!
Five Reasons Why Your Dental Practice Need Centralized Outsourcing Support
Here’s why your dental practice needs centralized outsourcing support!
Saves Your Administration’s Precious Time
The administration staff at your clinic has to spend hours calling insurance companies and getting the verification thing sorted. This means all your payroll expense is being spent on something which could be outsourced at a much affordable price.
Outsourcing dental insurance verification can save your administration’s precious time and let them focus on what’s their actual job – delivering quality patient care. The more quality patient care you’d deliver, the more satisfied would be your patients – leading to a continuous flux of incoming patients and an improved revenue cycle.
Speeds Up The Verification Process
Dental insurance verification is a time-consuming task and requires lots of focus and knowledge from the industry. Outsourcing dental insurance verification to an industry expert could really boost up the process.
A quick verification process would ensure both the practitioner and the patient knows about the coverage before appointments. It will help agree upon treatment plans that fall under the patient’s coverage, and even if there’s a co-pay required – patients would be informed about that within time. They’ll have the option to either go with the plan or not based on their affordability for the co-pay amount.
With all this quick verification and informed patients, you’d be able to collect payment reimbursements on time – contributing significantly to an improved revenue cycle for your dental practice.
Mitigates The Risk of Claim Denial/Delays
A prominent reason why most insurance claims get delayed or denied is the lack of adequate insurance verification. Outsourcing dental insurance verification to a credible company can really solve this problem.
An ideal verification process includes everything from acquiring patient information to calling insurance companies to cross-check and revising the entire process every month – an adequate dental insurance verification company does that all. Therefore, each of the dental claims you submit is rightfully generated and mitigates the chances of claim denials/delays to almost negligible.
Since none of your claims gets rejected or delayed, you tend to receive all the payment reimbursements in time – contributing to a strengthened revenue cycle.
Improve Your Revenue Cycle With DentalRevu Today!
DentalRevu is one of the leading dental insurance verification companies providing robust solutions to each client. We have the finest technology integrated, a cutting-edge system developed to verify your patient’s insurance plans, and a highly professional team of experts who know the art of improving your revenue cycle with effective dental insurance verification tactics.
Get in touch with one of our representatives for a free consultation!