The year 2023 is already here, and dental practices are now adjusting to new and upcoming trends for the future. So, we thought to put out some of the most important trends for the future of medical billing in 2023.
Here are some of the most important dental billing trends for dental practices in the year 2023, and you can ensure the success of your dental practice by adjusting to these trends throughout the year.
Remote Work and Outsourcing
While COVID-19 forced the adoption of remote working lifestyles and technologies across the industry, oral healthcare decision-makers got the message late. Well, such dental billing trends can be justified by keeping in mind the general nature of oral care, where dentists often focus more on their billing teams than their bottom line.
Initially, such dental practices tried to let go of their administrative teams, especially the revenue cycle workforce, and found themselves with a lack of resources. Outsourcing or hiring freelance dental billers to work from home can only fulfill such capacity. The former is a better approach than the latter, and dental billing can become much more cost-effective by outsourcing dental billing to professionals in the industry. This significantly uplifts revenue collection and contributes to a better workflow for dentists.
New Dental ADA Codes in 2023
Dental practices have always looked for medical cross-coding practices which allow medical practices to get financial benefits. In 2023, such cross-coding practices are also expected to be introduced for dental practices. These universal coding categories explain the “what” and “whys” of any procedure in dental care.
Therefore, if performed accurately, his numeric coding can replace the need for a tedious narrative—making a dental biller’s life convenient! As a result, better revenues are expected for dental practices, and dentists can become much more affluent, resulting in a better focus on their bottom line in the industry.
Big Tech Companies Investing in Oral Care
It is a fact that oral care costs are prohibitive in the United States, and all major companies are now looking to solve this problem. The oral care industry requires a collaborative effort throughout the United States and new technology to facilitate its growth.
This is why companies such as Amazon, Google, Microsoft, Oracle, and Apple invest time and energy in oral care by developing multiple cloud platforms and investing in numerous startups in the industry. Although the process is quite spontaneous, even the World Health Organization has now moved for the Universal Health Coverage of Oral Care, keeping in mind the increasing number of oral diseases requiring patient care worldwide, especially in the United States alone.
Concluding Dental Billing Trends
In summary, we anticipate that 2023 will see better cash flow for dental practices, improved oral care, and increased oral care investments. As a result, more dental practices will likely grow their operations and invest more into outsourcing their dental billing and focusing on the bottom line. Many more dental practices are likely to invent in their marketing campaigns with more awareness regarding oral diseases spreading throughout the states. Lastly, we are also seeing big corporations playing an active role in the oral care industry, which means space for new entrepreneurs entering the market and uplifting the oral care sector.