If You Aren’t Following Your Insurance Payments, You May Be Losing Them
Many offices across the country are losing money daily on submitted patient claims due to two preventable factors:
- Payments or electronic-fund transfers (EFTs) from insurance companies are sometimes sent to the wrong bank account or are not even received by the office, despite insurance companies claiming to have sent the funds; and
- Funds that are actually received from the insurance companies are sometimes incorrectly applied.
It’s hard to think about, but the employees posting payments are human and sometimes humans make mistakes. The scary part of these human errors is that usually by the time the errors are discovered, it may be too late to fix because of filing timing restrictions.
Dental accountants can monitor and track these EFT payments on a daily basis to review accuracy while ensuring the funds are applied to the correct patient accounts. This set of eyes can also catch any warning signs of embezzlement early.
eAssist Dental Solutions has CPA certified, knowledgeable dental accountants that are ready to work with you and your practice needs. We can work with whatever dental software you’re using, and we offer an added perk of porting your accounting software over to QuickBooks online — for free. Why? Because we can more closely manage your books as well as give you, and anyone else you choose, direct 24/7 access to your accounting from a computer or smart device. This is dental accounting created by a dentist just like you.
Make sure that you don’t let any of your insurance payments fall through the cracks from this day forward. Adding a dental accountant will give you the financial peace of mind you deserve, and allow you to focus on dentistry and the growth of your practice.