From chaos to control: Relieve the pain points of revenue cycle management in dental practices

You know when you have a splinter in your foot, and even though it’s small, you can’t ignore the excruciating pain and discomfort? 

This is what pain points in revenue cycle management are like for dental teams. They might be small problems your team pushes aside temporarily, but they can lead to big losses in revenue. 

DCS is a full-service revenue cycle management provider that gets dental practices and groups cash flow they can count on. As experts in revenue cycle management, we see exactly where the pain points are, and the impact they have on your profits.

This article will address 3 major pain points of revenue cycle management, and then give you the solution to each. By picturing these pain points, you’ll be able to determine if you suffer through the same. But you’ll also know how to take action to heal them.

Pain Point #1: Out-of-date coding and compliance knowledge 

A major pain point for dental professionals moving through the revenue cycle is keeping up with coding and documentation knowledge.

This knowledge is crucial because coding errors lead to claim denials and sometimes accidental fraudulent claims. This knowledge includes: 

• CDT coding updates 
• CPT coding updates
• ICD-10-CM coding updates
• State and federal insurance regulatory updates 

The challenge is that insurance rules and regulations change constantly, and coding changes happen annually. These are all complex changes your in-house team must keep up with to remain compliant and profitable. 

But if your team is also preoccupied with presenting patient treatment, answering phone calls and checking in patients, they won’t have time to dedicate to learning coding and documentation updates. 

Does this pain point hit a little too close to home? Solutions are coming, but here’s another you might recognize… 

Pain Point #2: The constant fight with insurance companies for claim payments

Accurate coding and documentation is only one piece of the puzzle when it comes to submitting insurance claims for reimbursement. 

Teams struggle to receive reimbursement on insurance claims due to a lack of or last-minute insurance verification. This leads to a multitude of reasons claims are rejected and denied: 

• Out-of-date patient information 
• Obsolete insurance claim forms
• Outdated benefits
• Patient has reached their plan maximum 

Related: 10 reasons your dental insurance claims are being denied

Claim denials cost your business time and money.

Insurance claim revenue accounts for close to 50% of your overall revenue—it cannot be continuously written-off, or else your financial health will suffer. (blockquote)

Plus, your team has to spend time tracking down why the claim was denied in the first place, and then spend time appealing it. 

There is an alternative to fighting insurance companies. But first, here’s the last pain point you may be familiar with… 

Pain Point #3: Inconsistent and inefficient workflows

Your revenue cycle workflow is like a tire on a car. It needs to be maintained, balanced and occasionally replaced for your car to keep rolling.

Inefficiencies in your revenue cycle workflow are like nails in a tire: they damage the tire, deflate it, and delay the journey to your destination.

In the case of a dental business or group, inefficiencies look like: 

• Role confusion
• Employees wearing too many hats 
• Mistakes in the billing process (as mentioned earlier)
• Lack of dental insurance knowledge and best practices
• Lack of standardization and standard operating procedures 

These inefficiencies cause your revenue cycle workflow to stall and delay payment from both insurance claims and patients. Not to mention, your team’s time is valuable. When your revenue cycle workflow is efficient, their time is spent more productively.

So, what’s your solution to these three pain points? Let’s dive in!

From pain to gain: Heal your dental business’ financial health

Revenue cycle management experts can alleviate all 3 pain points we’ve talked about.

DCS, for example, is a full-service RCM provider that offers the following services:

1. Technology-assisted insurance verification
2. Insurance claims management
3. Automated patient billing

RCM providers know the best practices when tackling your revenue cycle. With our experts managing these processes, you will see your workflows streamlined to get you consistent income faster.

Related: Making the dental office more efficient: 10 tips for your dental team's financial and professional success

And because of their expertise, RCM providers will verify your patient’s insurance coverage, update it if necessary, and check claim accuracy before submitting them to insurance companies. Your processes will work together to get you paid quickly. 

The table below paints a picture of how DCS, a full-service revenue cycle management provider helps relieve the pain that these challenges cause. 

Adding DCS to your team means insurance is verified, claims are paid, and patients are happy. You’ll feel less pain and experience more success.

Revitalize your revenue with RCM experts supporting your team

When you leave a splinter in your foot, it swells and can eventually be infected. It’s the same with your revenue cycle. If you don’t address the pain points, you’ll only face more pain.

And in the case of your dental business, that pain equals lower revenue. 

With our expert RCM services supporting your team, systems and workflows, you’ll avoid each pain point we addressed: 

1. Out-of-date coding and compliance knowledge
2. The constant fight with insurance companies for claim payments
3. Inconsistent and inefficient workflows

Your team will ramp up production with confidence with the empowerment that RCM experts like the ones at DCS provide. Book a free consultation with us and learn more about how we relieve the revenue pains in your business.