Revenue Cycle Management at its Best!
Your revenue collection is our biggest concern, and we strive to collect maximum reimbursements for practices.
Revenue Cycle Management for Dental Practice
The financial health of dental practices in America is contingent upon the effectiveness of their Revenue Cycle Management (RCM). This goes for both independent offices and those integrated into Dental Support Organizations (DSO’s), and without proper RCM offices, no matter if they see five or five-hundred patients a day, could face challenges with growth and stability.
Many dental practices face challenges with their RCM due to errors in insurance verification, claim submission, and lack of following up. This is why we at Dental Revenue Group offer end-to-end revenue management. We aim to establish a smooth and efficient RCM with consistent checking of claims along with regular follow-up, and as a result our clients have experienced significant growth in revenue, income, and peace of mind.
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Why Outsource RCM to Dental Revenue Group?
With impressive claim reimbursement rates, our revenue cycle management team has some of the best billing experts around. By outsourcing your dental billing services to Dental Revenue Group, you can easily skyrocket your revenue in as little as three months. Those scary accounts receivable numbers will drop, and a healthy financial stature will rise. As a result your entire dental practice will reap the benefits and become scalable for years of continued growth.
Step-by-Step Revenue Cycle Process for Dental Practices
RCM is composed of many steps that need to be managed carefully and accurately in order to ensure revenue collection and avoid any claim denials. These steps are:
Credentialing and Enrollment
Before a dental provider can even start providing oral care services, they need to make sure that credentialing is done properly. This is the first step in the revenue cycle as it provides practices with a framework that lets them operate within their eligible scope of treatment.
Appointments and Scheduling
Scheduling appointments for patients can be a tricky task, and it needs to be done with precision in order to ensure the daily operations run smoothly, which is why this step in the revenue cycle is considered to be highly important. Any mistake can lead to a disruption in work flow, creating frustrated doctors AND patients.
Eligibility Verification and Breakdown of Benefits (BOB)
The majority of claim denials occur due to mistakes in the breakdown of benefits, which is why errors in this step can lead to hard claim denials that are highly difficult to appeal. As a result, accounts receivable can start to pile up and impact your overall revenue in a negative manner. Outsourcing breakdown of benefits can help you save time and money. By allowing a dedicated team verify insurance eligibility and benefits, you in-house team will have more time to focus on providing excellent service to the real stars-your patients!
Coding and Fees
Once eligibility is verified, the next crucial step of revenue cycle management is the process of using proper dental codes in conjunction with the correct fee schedule. This step in the RCM process is the heart of the billing process and needs to be done with focus; failure to properly code and charge according to contracted rates can and has landed dentists in some pretty big trouble!
Account Receivables and Denial Management
Claim denials are a frustrating aspect of the revenue cycle process as they contribute to the high numbers in accounts receivable. This is where our denial management service come in. We follow up and appeal denied claims while also ensuring that all claims are processed effectively to ensure high revenue collection. Therefore, by outsourcing your denial management to Dental Revenue Group, you can guarantee the financial health of your dental practice.
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HIPAA-Compliance RCM Guaranteed
To wrap up, our RCM for Dental Billing is highly secure as they comply with all HIPAA standards and ensure that the protected health information stays protected. We have strong checks and balances implemented to ensure guaranteed efficacy of the revenue cycle that is transparent as well.