Are you collecting as much as you’re owed on claims? (Part I)
As a hard-working dental professional, you want to get paid what you’re worth, right? Unfortunately, many dentists are not collecting as much as they are owed on their dental claims. If you’re one of them, that means you’re missing out on thousands of dollars each month.
So how do you find out if you’re collecting what you should be? More importantly, since it’s likely that you’re not, what needs to change to make that happen? Let’s discuss.
The 99% collection rate benchmark
If you’re not already aware of this, a healthy dental practice should be collecting 99% of production. Because of the monthly fluctuations of insurance receivables and other payment cycles, you shouldn’t measure this over a short-term period. So, look at your collection percentage over a one-year period.
If your practice is like most dental offices, you’re probably collecting about 80-82% of your production. You might think that’s pretty good. After all, that percentage will earn you the coveted ‘B' in school. Anything over 80% is good, right?
Outsource your claims processing
We are dedicated to helping dentists succeed at providing their patients with a high standard of oral health. With All About Teeth LLC, patients can find a dentist near them that we’ll select and match to their preferences. This ensures you get a quality lead when we send you a new patient.
Plus, when you take advantage of our revenue management services, you can take all the headaches out of the financial side of your business. Improve your collection rate and enjoy all the proceeds of your work the easy way.
No more will your front office staff be stressed and pulled in different directions trying to answer customer questions about insurance or talking to insurance companies all day. Instead, they can offer your patients the five-star customer service they deserve.
Get started today and start enjoying the 99% collection rate you deserve. Now that’s something to smile about.