Más contenido relacionado Más de Medical Billers and Coders (20) Is your dental practice facing a huge outstanding ar1. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 1 of 6
Is your Dental Practice Facing a huge
outstanding AR
According to a survey, dentists perceive past due accounts as the biggest threat
to their revenue cycle. Past due debt should not be an accepted way of doing
business. If you have slow or lazy payers, you need to take necessary measures to
reduce account receivable days.
Don’t be complacent when it comes to bad debt, fearing that the patients will
leave if you follow-up with them regarding their non-payment. It is very
important for dentists to understand account receivables in order to run their
practice because it pays for their bills, facility and their salary. Good account
2. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 2 of 6
receivable management is possible only when you focus on discovering and
correcting inefficiencies in office practices that lead to denied claims and lost
revenue.
How to enhance payment collection?
It is important for dental practices to have a strict payment policy in place
This policy should be explained to patients at the time of the initial phone
call
Office portfolio should also have mention of this policy so that they are
aware of the same
3. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 3 of 6
Dental practices must set financial arrangements and expectations clearly to their
patients. Patient care and dental billing is important but providers also need to
take some time out to educate patients on their treatment and payment options.
In order to enhance collections, proper forms and documentation should be used
to set patient expectations.
Dentists also need to know what their accounts receivable total is. Don’t leave
this matter to your front desk employees. Remember, if your AR is in order, your
staff will take not more than five minutes to review a report; however, if AR isn’t
healthy, several problems will arise.
4. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 4 of 6
Never overlook receivables:
It doesn’t matter how much revenue your dental practice is generating. What
matter is how much you are getting to keep? Even if cash flow of your dental
practice is good, never overlook receivables. You need to observe if collections
are reasonable or if the number of patients paying 60 or 90 days late is
increasing. You must hire an accountant to create a policy for collections whether
or not your practice is thriving. Don’t be in the lending business rather review
internal controls over receivable adjustments and cash.
5. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 5 of 6
Generally, your AR should be less than one month’s revenue. Your office may not
be doing their work efficiently if the total receivable exceeds monthly revenue.
You also need to follow-up your insurance claims if insurance receivables are
exceeding your 30 day receivables.
Too much to handle? Hire a billing partner:
If AR management becomes daunting due to lack of time, money and resources,
hiring a dental billing partner makes sense. It is important to have a billing
company like Medicalbillersandcoders.com that has a team of skilled billers and
coders who are proficient in clearing unpaid claims, submitting timely claims and
offering assistance in reducing AR days.
6. End to End Medical Billing Solutions
Call now 888-357-3226 (Toll Free)
http://www.medicalbillersandcoders.com
www.medicalbillersandcoders.com
Copyright ©-2013 MBC. All Rights Reserved.
Page 6 of 6
MBC has been helping dental practices across 50 states in the US achieve healthy
AR, maximum revenue and minimum claim denials.
Related Posts:
How Can Outsourcing Solve Medical Billing and Reimbursement
Challenges for Physicians in 2014?
How can outsourcing help you Deal with Shortage of Trained
Medical Billers and Coders?
Eliminate the Burden of Medical Billing and HIPAA Regulations with
a Billing Company