12 Jul Growing Dental Groups: Scale for Change, Not Just Profits
In any dental practice or group that’s positioned for growth, profits will fluctuate, but change will be constant.
If you’re focused only on the numbers instead of what factors are causing those numbers, you might be making decisions for the wrong reasons. This includes staffing decisions: choosing an outsourcing partner versus building a team internally. The wrong choices will lead to the very numbers you’ve been courting, not going in the anticipated direction.
Understanding change, not just reacting to up or down numbers, will result in better business decisions. Prime among them is optimizing a billing situation that supports change with expert solutions that are nimble and flexible.
Billing Services That Align With Rapid Growth and Changing Needs
Say a practice has a lot of aging Accounts Receivable. Then an outsourcing partner (spoiler alert: like Medusind Solutions) is brought in. Over the course of a single quarter, those aging accounts are brought current or otherwise closed, leaving less Accounts Receivable work. But now, with staff time freed up for patient care and even marketing, the new influx of patients requires more Insurance Eligibility Verification and Fee Schedule Maintenance.
Does the practice rebalance and retrain staff to accommodate these changes
That would be a tail-wagging-the-dog moment.
Consider also that that scenario happens with regard to: Credentialing, Accounts Clean Up, Payments and Denial Management, and Accounts Payable.So, it’s not only necessary to have professional-grade billing support from knowledgeable experts, but from an outsourcing partner that’s as adaptable and dedicated to delivering your vision as you are.
The Costs of Staffing Up or Down
Internal recruiting, training, retraining, and continuing education is expensive and time consuming. Internally trained staff is not functioning at an expert level, able to create consistently clean claims with all the necessary documentation, attachments, and correct procedure codes that will prevent denials.
A complete team of Subject Matter Experts that can add or subtract members to align with a practice’s needs, creates consistency, trust, and a better use of staff time, which in turn promotes a positive office culture.
The Medusind Advantage: Built to Deliver Change
Faced with a change in your practice’s billing needs, your ideal outsourcing partner says, “Yes, we can handle that.” Instead of ,“No, that’s not in our contract.” Or, “Well, that particular service IS included with our platform, so you have it whether you need it or not.”
Your ideal outsourcing partner provides the services you need, when you need them. Can add or subtract them from the mix as needed. And provides you with an expert support team that is always complete and up to date with the latest billing and coding procedures. Which, by the way, also change a lot.
An outsourcing partner like Medusind, built to accommodate change, can provide the direct route to the profits you seek.