1) Insurance Eligibility Verification
Insurance billing outsourcing can help a dentist by automating the insurance eligibility verification process. This will enable the dentist to quickly and accurately verify that a patient’s insurance is active and up to date, reducing the amount of time it takes to submit claims and receive payment. The automated system also helps to reduce errors in the eligibility verification process, which can lead to delays in claim processing.
2) Electronic Claims Submission
Insurance billing outsourcing can also help a dentist by providing electronic claims submission services. This allows for faster and more accurate submission of claims, as all of the necessary information can be entered into an online form quickly and easily. Additionally, electronic claims submission eliminates the need for manual entry of data, which can lead to mistakes or omissions that could delay payment.
3) Follow-up on Unpaid Claims
Insurance billing outsourcing can also help a dentist by following up on unpaid claims. This ensures that any issues with the claim are addressed promptly and efficiently, allowing for quicker resolution of any problems that may have caused a delay in payment. Following up on unpaid claims also helps to ensure that all payments are received in a timely manner, reducing lost revenue due to late payments or denials from insurers.
4) Appeals Process Assistance
Insurance billing outsourcing can also assist with appeals processes for denied claims or other issues related to claim processing. Handling this process for the dentist, allows the dentist to focus their attention on providing quality care while their insurance billing partner handles any issues related to claim processing or appeals processes with insurers. This ensures that all necessary steps are taken in order to receive prompt and accurate payment from insurers for services rendered by the dentist’s office.
5) Reporting & Analytics
Finally, insurance billing outsourcing can provide reporting and analytics services which allow dentists to track key performance indicators (KPIs) such as average time-to-payment, denial rate, average reimbursement rate, etc., as well as identify areas where efficiency improvements could be made in order to streamline operations and increase profitability margins.
