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Increase Profits Without Raising Fees

Increase Profits Without Raising Fees
Christine Taxin

Billing is the process of submitting and following up on claims to insurance companies in order to receive payment for services rendered by a provider at your dental practice. That definition may seem obvious, but your dental office may be losing revenue daily due to lax billing practices. The problem: haphazard and imprecise dental and medical diagnostic coding for your services.

The Impact of Billing and Coding Problems on Your Business

Dental billing and coding problems can cost you thousands in lost revenue. But it’s lost revenue that you can easily recapture—with a better understanding of the latest billing and coding methods.

“The difference between profitable, growing dental practices and those who barely break even: expertise in dental billing and coding.”  — Expert industry consultant and trainer, Christine Taxin of Links2Success

 

Your Disadvantage: Dealing with Insurance Company Experts

One thing is certain–insurance companies train their teams to be experts in dental diagnostic codes and treatment codes, so that they don’t pay you any more than absolutely necessary. If your office has fallen behind on the latest dental coding and billing best practices, using the same codes constantly because they are all you know, you are leaving money on the table.

Due to lack of billing and coding skill:

  • You’re using inadequate diagnostic codes, not coding and billing for the complexity or extent of the examination. You may not be using the most up-to-date codes from ICD9 — and ICD10 is coming soon.
  • You’re getting paid slowly because when documentation isn’t in order and properly coded, claims are denied.
  • You’re wasting staff resources. Your office must resubmit documents, using valuable staff time and slowing down your receivables.
  • You’re not collecting proper co-pays and deductibles.
  • You’re getting paid less than you should for procedures you perform.
  • You may be missing out on payments for certain billing codes entirely, in some cases.
  • You’re missing out on payments for medically necessary dental work.

What you need to do

Get Expert Training

Optimize your billing practices with professional training. Get your billing paid more quickly with properly submitted documentation. Save staff time by eliminating re-submissions, and get paid your full fee for every procedure. Just think, you could use those funds you’ve been missing to grow your business!  Don’t be at the mercy of insurance companies. Make sure all your procedures are billed optimally so that no code is left to chance. Training can be tailored to the needs of your dental office to include billing patient’s medical insurance.

A great training should offer consulting on:

  • New Dental Claim Form
  • New Health Claim Form
  • Documentation
  • Diagnostic Codes
  • Insurance Rules
  • Learn How to Bill Dental Procedures to Medical Insurance
  • Learn the Secrets for Success in Dental Billing
  • Get Your Questions Answered about Dental Billing and Coding

 

You should also…

Get a Professional Chart Audit  Why should you have a professional chart audit? Have you been underbilling patients insurance at your dental practice? That’s what an audit will tell you. Without proper training in insurance billing and coding, chances are that you have been missing out on fees that you are entitled to receive. You can mine your recent billing for missing revenue: Let an expert find missing or incorrect codes and identify recurring error patternsSchedule a professional audit to find out about underbilled procedures to help you recover lost revenue. Your audit should more than pay for itself. Advantages of a professional dental chart audit:

  • Ensure that the CDT codes your practice reports are reflected in the services documented
  • Verify that your practice is following CDT guidelines along with Medicaid (if applicable), state, and federal rules and regulations
  • Ensure that your practice is receiving proper reimbursement for services provided
  • Determine whether your dentists and staff are applying the principles of documentation for compliance
  • Evaluate documentation for risk management exposure not specific to the documentation guidelines. (Insurance companies conduct their own audits and reviews of your billing to their insured. When they find incorrect documentation or overpayments, they will seek to collect from you.)
  • Identify any missed or absent documentation and possible unbilled charges

Dental Office Staff: Ask for an Expert Coding Class from (Or sign up on your own)

According to the BLS (Bureau of Labor Statistics), health care is the largest US industry, making this career a sound choice. You can make your current job easier–and obtain valuable skills to advance your career–with up-to-date knowledge of codes, both dental and medical (cross-billing for medically necessary dental procedures). Larger dental practices may pay towards class tuition for team members to be at the cutting edge of coding knowledge. If your practice won’t pay your tuition, consider taking the class anyway for your own professional development.

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