6 Reasons to Outsource Insurance Verification
Insurance denials due to incorrect insurance information are the mother of all lost profits for a dental practice. Unexpected patient balances due to incomplete verifications are also the heart of many unhappy and negative patient reviews. In fact, lack of proper insurance verification in the office can create compounding chaos — everything from low team compensation to the overall office stress level.
Outsourcing this tedious and crucial daily task has some incredible benefits to both the practice and the front office team.
1. Your administrative staff has more time for patient care.
Your front desk staff is spending hours on the phone chasing accurate insurance details. This means your payroll expenses are primarily going towards a skill-based task that can be outsourced, so your staff can focus on the things that really set your office on the path to success — patient care.
2. Faster payments and less insurance follow-up
More than 50% of claims get denied for entry errors that could have been prevented with attention to detail. Having a dedicated insurance verification team makes certain that attention to detail ensures your claims go out accurately and get paid timely, with far less time consuming follow-up.
3. Ensure the office internet bill gets paid
When a claim is sent correctly the first time — from the information obtained from the insurance verification — and the treatment plan is presented accurately, you can confidently collect 100% of what is rightfully owed to you. So you will not have to worry about enough cash flow to pay office bills, order supplies, or increase team compensation.
4. Freedom to take your practice to the next level
Adding associates or more operatories can provide the extra income needed to take your practice to the next level quickly. More providers and chairs means more patients, which translates to more insurance verifications. Don’t bog down your administrative staff and create higher overhead — channel your money into areas that profit your business.
5. Keep angry patients to a minimum
No matter what, financial discussions with patients are stressful — like rolling a boulder uphill. Without accurate insurance verifications, patients are more likely to have unexpected credits or balances after the insurance pays or, in some cases, denies. That can cause patients to distrust the competence — and even integrity — of the practice. Think of outsourcing your insurance verification as a tool to wedge underneath the boulder, making it easier for you and your team to push the boulder up the hill toward your goal.
6. Reduce office stress level
Your staff feels the strain of inaccurate or incomplete insurance verifications, even if you don’t realize it. Patients walking in with complaints about unexpected statements can put a damper on even the best of days. Help de-stress your staff by outsourcing one of the most tedious tasks in the office.
Reduce your negative patient reviews, ensure the office bills get paid, make sure you have the necessary funds for supplies and team bonuses, and so much more, just by making insurance verification a big deal at your practice — and outsourcing it to the right people.