Operating a profitable dental practice is no small task, but overseeing its back-office work is one of the most significant difficulties for dentists. While back-office tasks may seem time-consuming and complex with narrow margins for error, outsourced dental back-office support services, can streamline, and simplify this part of a practice’s back-office processes and increase cash flow while improving the practice’s bottom line. In this post, we’ll discuss how outsourcing dental back-office support services can boost practices’ cash flows while increasing their profit margins.
Improved efficiency equals more time with patients.
A poorly functioning dental back-office support team can have serious negative consequences for a practice’s income. Usually, this happens when practices need more competent staff, more time to train or cross-train them sufficiently to assume new tasks or have employee retention issues stemming from administrative or management problems. However, expert, dependable, and effective outsourced dental back-office support services are the solution.
Outsourced dental back-office support services can save a practice precious time from support teams that would otherwise be spent performing administrative tasks instead of treating patients. With outsourced dental back-office support services in place, a practice can focus on what matters most, providing excellent patient care!
Health Management Solutions Inc.’s back-office support and operations team can take over billing processes, which include insurance verification, claims submission, insurance follow-ups and collections, payment posting, and other administrative tasks such as credentialing, re-credentialing, and fee negotiations. This allows a practice’s clinical team to focus on the patients’ needs and wants. Consequently, generating an immediate positive increase in collections, boosting the practice’s bottom line and patient satisfaction.
Reduced administrative errors lead to improved patient care.
Administrative errors can cost a practice significant revenue losses and legal entanglements. When Health Management Solutions Inc. performs all aspects of the billing process, we can help a dental practice avoid this fate with our expert billing professionals. They will assist the dental practice with the implementation systems to thoroughly obtain and record all required patients’ information to conduct a thorough verification. Thus, we can prevent billing errors early when performing an initial comprehensive dental insurance verification. The practice can respond promptly to patient insurance queries and stay compliant with ever-evolving billing regulations and dental insurance plan changes. Accurate billing and financial transparency reassure patients and give dental providers peace of mind; no patient appreciates unexpected bills!
Increased Revenues.
It is well known that higher collections lead to more significant revenues for any dental practice. Utilizing an outsourced dental back-office supporting services organization can result in faster collections, increased revenues, and improved financial transparency with patients. Consequently, reducing patients’ treatment plans’ financial misunderstanding, leaving more time and attention available for providing high-quality dental care services to patients, and identifying patients’ cosmetic “wants” directly to impact a practice’s revenues.
Improved patient experiences foster patient loyalty.
Outsourced dental back-office support services directly impact dental practices by increasing patients’ positive dental experiences and cultivating patients’ loyalty. When patients receive accurate treatment plans and invoices, prompt replies to insurance inquiries, and timely bills, they are more likely to enjoy their dental visits because of the transparent and trusting relationship provided. New patients become repeat patients and an immediate source of patient referrals. Happy patients who value convenience, accuracy, and professionalism become great promoters for a practice, a source of free marketing that, when adequately nurtured with little marketing incentives, can become a significant source of the practice’s revenues.
Decreased overhead equals increased profit margin.
A significant advantage of outsourced dental back-office support services is reduced overhead costs and uninterrupted services when facing staffing changes. A practice will not need extra staff salaries, training, cross-training, or certification costs for competency and compliance requirements for back-office workers.
The fourth advantage of outsourcing dental back-office support services is that it fosters patient loyalty and improves their experience. When patients receive accurate treatment plans and invoices, prompt replies to insurance inquiries, and timely bills, they are more likely to enjoy their dental visits because the dental practice established a transparent and trusting relationship with them. New patients become repeat patients and an immediate source of patient referrals. Happy patients who value convenience, accuracy, and professionalism become great promoters for your practice, which is a source of free marketing that, when adequately nurtured with little marketing incentives, can become a significant source of revenue for the practice.
The final advantage of outsourcing dental back-office supporting services is that it can lead to decreased overhead and increased profit margins. A significant advantage of outsourcing dental back-office support services is the reduction in overhead costs and uninterrupted services when facing staffing changes. The practice will not need to incur extra staff salaries, training, cross-training, or certification costs for your back-office workers’ competency and compliance requirements. By outsourcing dental back-office tasks, experts will take on this vital part of the dental practice without needing more employees, thus leading to decreased staff costs, more significant profit margins, and uninterrupted reliable services when the practice undergoes staffing changes.
In conclusion, outsourcing dental back-office supporting services can significantly benefit dental practices of all sizes by simplifying and streamlining back-office administrative tasks and freeing up more time for the dental team to dedicate to patient care. These outsourced services increase cash flow by streamlining office work, reducing errors, increasing revenue streams, and optimizing dental patients’ experiences. Health Management Solutions, Inc.’s services allow practices to improve profitability and redefine their focus on patients’ dental well-being, financial satisfaction, and marketing strategies.
Health Management Solutions, Inc. is a top provider of outsourced dental back-office support services. We specialize in dental insurance verification, billing, fee schedule negotiations maintenance, and dental insurance credentialing. Our team of experienced professionals has been providing top-quality services to dental practices for over a decade. We are dedicated to helping our clients succeed by streamlining their administrative tasks, increasing cash flow, and improving their patients’ experiences.
Contact us today to learn more about our services and how we can help your dental practice succeed. We are standing by to serve you and help you achieve your goals.
You can also contact us for the following services:
DENTAL INSURANCE VERIFICATION
DENTAL INSURANCE BILLING
FEE SCHEDULE NEGOTIATIONS MAINTENANCE
DENTAL INSURANCE CREDENTIALING
We are standing by to serve you. Call us today!