5 Steps to Protect Your Revenue

COVID-19 has disrupted dental practices, which must manage cash flow and team productivity more strategically than ever. Luckily, your practice management software can lighten your team’s load. Help increase cash flow with these five steps.

Step 1: Eligibility

Patient eligibility is trickier than ever with COVID-19 layoffs and temporary changes in benefits. Use your practice management software for electronic eligibility checks to eliminate hours of work. And verify eligibility at least 48 hours before appointments to identify patients without coverage.

Step 2: Patient Portion

Collect as much as you can before treatment to keep cash flow positive. What are your collection protocols? COVID-19 offers a unique opportunity to update policies that might have become too lenient over the years.

Step 3: Claims Submission

Documentation drives your revenue! Carriers are becoming increasingly picky about the information they want. Use your practice management software to easily capture and submit accurate claims documentation the first time.

Step 4: Aging Reports

Keep up with carrier reimbursements by working the reports. Some dental software like Dentrix Ascend lets you easily see unresolved claims. Run these reports frequently to track down money you are owed.

Step 5: Patient Collection

Use your software to send statements daily to capture cash more often throughout the month. And make it easy and convenient for patients to pay you, including offering online payment options.

Learn more about how you can use your practice management software to protect your revenue as you increase efficiency, schedule the right patients and increase collections to improve cash flow. Watch the on-demand webinar “Protecting Your Revenue with Solid Insurance Systems” for more details about revenue cycle management best practices, including how to bill for PPE and more.