15 Sep The Benefits of Outsourcing Dental Billing
Customer Support: A Profitability Essential
When there’s a billing question or an insurance payment issue that can’t be resolved with a “yes” or “no” answer, the value of an experienced, knowledgeable outsourcing billing professional becomes immediately apparent.
Every area of dental billing in Louisiana, Montana, Nebraska, Rhode Island and other states is complex, from insurance eligibility verification, to the generation of a clean claim with accurate, up-to-date procedure codes and correct attachments, through payment posting and Accounts Receivable (A/R) management. These are all comprehensive processes that, in addition to the necessary expertise, require time in order to determine the best solution and resolve an issue.
The amount of time an outsourcing resource dedicates to supporting its practices should be an essential factor in choosing a dental billing company. Experts in every process must be available, in a practice’s time zone, with effective hands-on support. Productivity in customer support can be as important to a practice’s bottom line as the number of successfully closed accounts in A/R.
Medusind’s professional-grade billing experts spend an average of:
3,200 Hours
of calling per day
15,000
of calling per week
• Answering Questions
• Talking Through Problems
• Creating Solutions
Daily Insurance Verification: Expertise = Efficiency
Insurance verification, the first step in successful dental billing, is also complicated and time-consuming. Management by office staff that is either untrained or unable to spend the necessary time to execute this process accurately can result in verifications being neglected. This causes downstream payment issues, surprise billing, and subsequent patient dissatisfaction.
Technology alone, aka automated insurance verification, is insufficient to do the job successfully. It must be combined with the knowledge of experienced verification professionals; whose expertise maximizes efficiency.
Working in combination with its powerful QuickVerify™ technology, Medusind’s experienced insurance verification team performs an average of
60,000 Insurance Verifications
per day
Accurate and complete, each verification sets profits in motion and enables office staff to focus on their primary concern: taking care of patients.
Daily Payment Posting: Seeing the True Picture
For leadership to have a true picture of a practice’s financial health, payments must be posted and monitored daily. Additionally, the process doesn’t exist in a vacuum. Payment posting must be coordinated with Accounts Receivable (A/R), and has to be up-to-the-minute for the combined processes to generate a meaningful report.
The ability to manage payment posting of any volume for any size practice or dental group, and on a daily basis, is another key data point to have at hand when considering a dental billing outsource company.
Medusind’s Payment Posting performance:
$3.2 Million Cash Posted
per day
$70 Million Cash Posted
per month
Exceptional Productivity for a Profitable Future
An experienced, trusted resource that’s always available, and delivers expertise in every process is one that builds a working partnership with any size practice to increase revenue, improve efficiency, and drive toward achieving growth targets.
If outstanding productivity in processes including Customer Support, Insurance Verification and Daily Payment Posting is top-of-mind for your practice, find out more about Medusind’s proven track record.
