If you want your small business to weather the economy for decades, you can’t jump on every trend bandwagon. However, if you don’t adapt to changing times, you will fall behind in relevance and convenience, become less efficient, and quickly age out of business. Right now, certain trends are worth paying attention to and can help your team work smarter with a better dental billing strategy. Keep reading to learn what these trends are and how you can adapt to financially thrive in a new economic environment.
Automation and Technology in Billing Processes
Gone are the days of paper patient charts and claims. You may be relieved to not have a wall of paperwork to keep organized, but this shift to computers and online tools means you must stay on top of cutting-edge dental management and billing software as well as other innovations. Also, your patients may increasingly prefer to pay online through electronic funds transfers (EFTs) over virtual credit cards or checks in the mail. Your staff needs to have the skills to handle these payments efficiently to maximize your revenue and keep patients satisfied.
More Frequent Claim Denials from Insurance Companies
Everyone makes mistakes every now and then, but insurance companies are notorious for finding any reason however small to deny claims. Sending back claims can consume your staff’s time and slow down processes because of rework if they happen to put down the incorrect dental code, use an outdated claim form, incomplete information, inaccurate understanding of available benefits, and so on. In other words, it’s more important than ever to make sure your team files claims correctly and completely to avoid wasted time and resources.
Staff Shortages in Dental Offices
Although nearly all industries have felt a staffing pinch since the COVID-19 pandemic, dental offices have been struck particularly hard. At any moment, your team members could move on, leaving a significant talent gap in your billing process. You’ll quickly find just how hard it is to run a business without consistent cash flow and revenue coming in. Fortunately, there are outsourcing options available that remain constant and reliable despite local staff shortages.
More Price Transparency with Patients
Even with insurance benefits, patients are often responsible for a good portion of the treatment price. With budgets already stretched to the limit, patients are aware of where their money goes and how much services cost. As a result, transparency about financial details is essential to retain trust. Especially if claims have been denied and extra payment is needed afterward, diplomacy and customer service skills can help keep the relationship positive.
Perhaps most importantly, a trendy solution that has been shown to help dental practices maximize revenue is more outsourcing for dental billing. In every way, a billing services company will keep up with industry innovations and take advantage of the best efficiency. You can’t control what trends come up or how the industry evolves, but you can change with it to stay relevant, profitable, and successful.
About Dental Support Specialties
Dental Support Specialties opened for business in 2008 and has offered remote billing support throughout the country ever since. With decades of experience, our professionals know how dental insurance companies work, what trends will stick around, and how to perform their jobs well. Friendly and compassionate, we can handle follow-up payment calls as well in a way that leaves every party satisfied. To learn more about outsourcing your dental billing, contact us online for a consultation.