Everything that is needed to operate a business takes time, and for the business owner, time is money. This is particularly true for those who are professionals like dentists. The dentist not only has to perform the professional services but has to look after the administrative end of the practice.
One of the most important components of the practice is the cash flow. Without it, the professional may not be able to build the practice as quickly as needed. Keeping track of the cash flow is critically important.
Normally a dentist will start out by hiring at least one individual to handle all of the administrative work. In most cases, this is the one individual working in the dentist’s office that has not been formally trained for all the tasks they will be responsible for. They may have the experience, but when it comes to billing for dental services, they are usually self-taught. The dentist has to rely on their experience in the hopes that the office personnel has a good handle on it. If they don’t, then usually, errors will go undetected.
Another major concern is that the office staff does not have the time or perhaps the desire to keep themselves up to date with the changes that are taking place within the dental industry. Many of which can affect the billing. If the necessary changes are not made, they can affect the cash flow.
Front end staff in a busy dental office usually have so many tasks to tend to that billing gets put to the bottom of the list. The staff may have difficulty prioritizing admin tasks. If this happens, then billings are late, and overdue accounts don’t get followed up on. This is money that should be coming in that isn’t.
Dealing with Insurance Issues
Insurance claims can be complex, and when there are problems with them, the admin staff may not have the time or the expertise needed to sort them out. Until they doa claim is not paid and again, the cash flow for that billing period is affected.
The Importance of the Cash Flow
The dental practice has ongoing monthly expenses that need to be handled by the cash flow. There are ongoing expenses that have to be paid, such as employee wages, office space, utilities, and supplies. Payments for all of these depend on cash flow.
Outsourcing Is the Solution
The dental billing outsourcing company only has one responsibility, and that is to tend to the billings for the dental practice. The company performing these services has fully trained staff on hand. They are provided with ongoing education to keep up to date, and they are not burdened with many other tasks that would distract them from doing their jobs. The dental billing staff constantly works with the insurance companies so that they can rectify insurance billing issues quickly.
Putting your dental billing needs in the hands of our professionals here at Prospa Billing is going to eliminate your second-guessing of whether your billing is affecting your cash flow. It is also going to free up your staff to tend to the many other important tasks that they are responsible for. Call us today at (844) 663-3686 to get your billing services arranged.