Why outsourcing your dental billing doesn't mean you failed

You’re a dentist who just wants to have a successful practice, and your hard work to set up  the best billing system has given you a major headache. As you explore options like outsourcing your billing, it might occur to you that you’ve done something wrong, or made some kind of misstep to get to this place. You haven’t found the right person to handle your billing or process, and your collections percentage is low because of it.

Running a business is hard! Everyone needs help. So if you are searching for help, you certainly have not failed as a business owner. In fact, outsourcing your billing is a smart business move that many dentists make when opening a practice, preparing to sell a practice, or any time in between. 

At Dental ClaimSupport, we’ve seen practices outsource their billing for all kinds of reasons, but it really all boils down to one: You need an easy, accurate process to bring in the full amount of money you’ve earned. 

Taking action to fix this problem doesn’t mean you’ve failed. It means you’re being proactive instead of reactive. In this article, we will explain why outsourcing doesn’t mean you did something wrong, it means you’re making a strategic business decision when it comes to your revenue.

Why dental practices are more successful due to outsourcing their insurance billing

There are  three big reasons why it makes sense to view outsourcing your dental insurance billing as a strategy, not a fallback plan. 

1. Your collections are going to increase and your aging report is going to decrease

Let’s start with what’s most important: your revenue. Insurance is a big contributor when it comes to the money your practice brings in. It’s what keeps your business running, your employees paid, and YOU paid! 

Deep dive into what variables are affecting your collections percentage in our Learning Center. 

By outsourcing, you’re tapping into support from experts who specialize in dental insurance billing. You benefit from proven streamlined processes for sending claims and appealing denied claims. And you don’t have to work around anyone who’s stuck on the phone with insurance, struggling to get the money you’re owed. 

Your remote biller also specializes in working your aging report and tackles this report weekly, so you see it shrink rather than grow. Those insurance claims aren’t going to research themselves. It is a huge help when you have someone to look at that list and go through, one by one, following up with why it has not been paid yet. 

2. You get a clearer picture of financial health because payment posting is kept up-to-date 

While it feels great to get paid, tracking payments takes meticulous work and needs regular attention. Your remote biller takes care of this, so you can check that your payments match up directly with deposits in your bank account.

You and your patients will appreciate recordkeeping that keeps an accurate ledger. That way you know when there’s a balance owed by the patient to collect. You’ll also see when you’ve found the holy grail of the billing process: a “0 balance.”

Another bonus: Posting payments removes claims from the insurance aging report.

3. Your dental team will be relieved to spend their time focusing on what’s happening in the office

When was the last time you sat on hold with a customer service representative? It is the worst. You go through all of the automation, then you have to explain your situation to an insurance representative. All this time you are sitting on the phone,  you have other things you need to be doing… yet you aren’t able to get to them. 

Your dental staff has a lot happening in the office. Patients need to be checked in, the phone is ringing, they have a schedule to keep full, they have patient billing to deal with… not to mention just daily office tasks like straightening up the waiting room and making sure all of your office technology is working. 

Working on insurance billing is time consuming. Your dental staff deserves to not be constantly stressed by their job. When you outsource, the expert working on your insurance billing doesn’t have all of the other responsibilities that come with working in the office. They can be dialed into getting your claims paid without having to worry about anything else happening around them.

4. It is a smart business strategy to hire experts to handle insurance billing

Getting support for your insurance billing process from someone who isn’t a part of your in-house staff can feel like a last resort, but it’s really a smart business strategy. 

Dental billing insurance is such a niche specialty. It’s hard to find someone who knows the ins and outs of it. It’s complicated and changes every year. That’s why many dental offices have a hard time hiring billing or insurance coordinators. You need someone who has not only the knowledge but the years of experience. 

Hiring this person can cost a lot as well. The average insurance coordinator earns a salary of $40,000 to $50,000 annually. Outsourcing your insurance billing costs a fraction of that, at around $18,900 per year. That’s $30,000 more in your pocket! So not only are you saving a large amount of money, you’re getting an expert who’s sole responsibility is taking care of your insurance billing. 

You can take pride in a well-run dental practice when outsourcing your insurance billing

Instead of feeling ashamed or like something went wrong because you’re considering outsourcing, feel proud. You saw a problem: you weren’t collecting the amount of money you should be. And you found a solution: bringing in someone with a proven process to help you manage the insurance portion of your billing. 

It can feel weird because you may not be not used to remote support for your billing, but it’s a smart business move that will not only bring you in more money, but also help your practice run more smoothly and efficiently. 

At Dental ClaimSupport we’ve seen clients go from frustrated, to hopeful and successful after using our billing services. Learn why others are outsourcing their insurance billing and see for yourself: you aren’t a failure. You just need a resource to take care of that pesky insurance billing.