Dentists across the country are feeling the pain of staffing shortages, rising inflation costs, and a lack of cash flow. Streamlining your dental billing and coding processes works to remove stopgaps in productivity and profit, allowing you to achieve peace of mind and increased revenue. Let’s dive into dental revenue cycle management (RCM) and how to enhance your RCM pipeline.
What is a dental RCM pipeline?
Revenue cycle management (RCM) encompasses patient scheduling, appointment, dental claims submission and reimbursement or denial – with several important steps in between. Each revenue cycle management step is essential to streamlining your cash flow, and when one part isn’t optimized, it affects the rest of the pipeline and, in the end, your practice’s bottom line. Practice Booster’s Revenue Enhancement Program can help in maintaining and implementing the process you need to succeed, starting with accurate CDT coding.
How do CDT codes affect my bottom line?
Every single one of your patients has a different insurance plan. Each insurance payor has different stipulations for different services. The key word here is “different.” Depending on your patient’s current coverage, certain treatment options may or may not be covered, and patients count on their dental practice to understand, and accurately communicate, their insurance benefits.
Dental billing claims are an exceptional revenue generator, but they require dedicated attention and technical knowledge. Dental coding, on the other hand, is a skill that requires frequent and consistent resource to utilize effectively. CDT codes change annually, with intermittent updates, revisions, or deletions that can completely change the way a procedure needs to be documented.
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Does your dental billing team have dental coding resources and expert support?
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Are you aware of the most recent CDT changes?
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Have you ever wondered what a clinical narrative for a particular code should look like?
Remember: Always code what you do. And use up-to-date resources from Practice Booster. This will be your key to maximizing reimbursement and minimizing risk.
How do I achieve increased cash flow and lower overhead without increasing costs?
There’s no secret recipe for increased revenue. A majority of operational issues can be solved through diligent procedural optimization. When was the last time you decided to “try it another way?” Innovation comes from taking a look within your own practice and envisioning areas of improvement. Practice Booster’s Revenue Enhancement Program can help answer and implement solutions to these types of questions:
- What is our annualized collection ratio based on business hours?
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How many providers do we have and what resources do they need?
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Are we using the right codes for the right procedures?
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Where are our office fees on the scale of the national average?
How can Practice Booster enhance my dental practice revenue?
Revenue cycle management is a balance between best practices and streamlined operations, leading to less-stressed staff and a better bottom line. Take a look at just a few examples of how Practice Booster supports your dental practice by analyzing and optimizing your revenue:
- Personalized practice management consultation
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Industry-leading dental coding and dental billing resources
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Fee rebalancing based on national averages
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Coding analysis, scope of treatment, and procedure utilization rate
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Advisement on clinical protocols
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Insider access and inspiration to real-life case studies with dentists just like you
No matter where your practice RCM pipeline may be clogged, you can analyze processes and enhance your revenue with Practice Booster. The Revenue Enhancement Program has worked with over 3,000 practices around the country for over two decades and found an average potential annual cash flow increase of $50,000.
CLICK HERE to apply to see if your practice is a good candidate for enhanced revenue.
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