Managing cash flow is critical for dental practices, and delayed insurance payments can significantly impact your profitability. Successful practices stay ahead of the game by streamlining their claims processes and setting clear patient financial policies. Here's how your practice can get claims paid faster and maintain healthy accounts receivable.

1. Accurate and Timely Claims Submission

Submitting accurate and timely claims is the cornerstone of faster payments. Common reasons claims are delayed or denied include errors in patient information, incorrect procedure codes, or missing documentation.

Tip: Utilize claim verification software or electronic claims services to catch errors before submission. Always double-check patient details, CDT codes, and include necessary documentation upfront.

2. Prioritize Electronic Claims Submission

Practices submitting claims electronically typically experience faster reimbursement—often within 7 to 14 days, compared to weeks with paper claims.

Tip: Invest in a robust practice management system capable of electronic submissions and track claims status online regularly to promptly resolve any issues.

3. Effective Insurance Verification Protocol

Insurance verification helps avoid payment delays due to inaccurate benefit estimations or denied claims.

Tip: Verify patient benefits at least 48 hours before appointments, clearly documenting covered services, deductibles, annual maximums, and waiting periods. Ensure front office staff is well-trained in verification protocols.

4. Regular Follow-up and Tracking

Consistent follow-up on outstanding claims is essential. Unmonitored claims significantly contribute to delayed payments.

Tip: Assign specific team members to monitor aging reports weekly. Promptly follow up on any claim older than 30 days to ensure swift resolution.

5. Optimize Your Documentation

Detailed clinical notes, radiographs, periodontal charting, and narratives often make the difference between timely payment and claim denial.

Tip: Always document thoroughly. For procedures often flagged by insurance companies, proactively include detailed narratives and supporting evidence to minimize back-and-forth communication.

6. Leverage Electronic Funds Transfer (EFT)

Insurance carriers offering EFT provide faster payment options directly to your bank account.

Tip: Enroll in EFT whenever available and regularly reconcile payments to confirm accuracy, reducing manual errors and payment delays.

7. Establish Clear Patient Financial Policies

Well-defined financial policies help patients understand their responsibilities, reducing confusion and payment delays.

Effective Policy Elements:

• Clearly outlined patient responsibility (copays, deductibles, and uncovered services)

• Expectations regarding payment timing

• Consequences of non-payment

• Transparent communication about estimated vs. actual insurance coverage

Tip: Present your financial policy upfront and have patients acknowledge and sign agreements annually.

8. Collect Patient Portions Upfront

Collecting estimated patient payments at the time of service greatly reduces accounts receivable aging.

Tip: Train front-office staff on effective communication techniques to clearly explain estimated costs and why upfront payment benefits patients and the practice alike.

9. Automate Patient Billing

Automated billing systems enhance patient payments and reduce accounts receivable.

Tip: Utilize automated payment reminders via text or email, offer convenient online payment portals, and implement automated billing cycles to maintain steady cash flow.

10. Regular Staff Training and Accountability

Continuous training on insurance and billing best practices ensures team proficiency and consistency.

Tip: Regularly review common errors, policy changes from insurance providers, and conduct periodic refresher courses for staff.

Quick Recap:

• Submit accurate, timely, and electronic claims.

• Verify insurance thoroughly before treatment.

• Consistently track and follow up claims.

• Provide detailed documentation.

• Use EFT payments and automate billing processes.

• Establish clear patient financial policies and collect upfront.

• Continuously train and empower your team.

By implementing these strategies, dental practices can significantly improve their financial health, streamline accounts receivable, and ensure faster, more reliable insurance payments.

Benjamin Tuinei

Founder - Veritas Dental Resources, LLC
Phone: 888-808-4513

Services:
PPO Fee Negotiators | PPO Fee Negotiating | Insurance Fee Negotiating
Insurance Credentialing | Insurance Verifications

Websites:
www.VeritasDentalResources.com | www.VerusDental.com