For a dental practice to remain profitable they must be paid for their services. I know this is stating the obvious, but I see practices on a regular basis that have an aging claims report that is out of control. In a busy practice, it is easier than you think to grow an aging claims list that has many claims approaching, or over, 90 days. This is money just sitting on the table.
Changing Insurance Guidelines
This is becoming more concerning for dental practices, because insurance companies are getting stricter with their timely filing guidelines. We are seeing more and more insurance companies requiring practices to submit dental claims within three months, or 90 days after the date of service. Those 90 days can come and go very quickly. This means that practices are putting themselves at risk for having to write off that hard-earned money.
To be successful, it is critical that a practice stays on top of aging insurance claims. It is essential to run the claims report on a weekly basis and follow-up on each claim every 30 days. Ideally, when you run the monthly aging claims report there should be no claims that are over 90 days.
Taking Control of Aging Claims
For dental practices that have a growing list of aging claims, it can seem like an overwhelming task to take on. While at first it is very time consuming, after working the list for a few months, it should be much more manageable on a weekly basis. Once they are caught up, most practices only have to spend a couple hours a week on it. This is guaranteed to be time that is well worth the investment.
If you are one of the many busy practices that already has a growing claims list, now is the time to turn it around. Procrastinating can have a drastic impact on the money in your pocket.
If your team does not have the capacity to tackle your outstanding claims list, there are options available. Outsourcing aging claims can be an easy, turnkey solution, that doesn’t take your internal team away from your patients or involve after hours work.
Don’t put aging claims on the back burner one more day! Develop a plan to make sure claims don’t hit that 90-day mark, to ensure that you are receiving prompt payment for your services.
Changing Insurance Guidelines
This is becoming more concerning for dental practices, because insurance companies are getting stricter with their timely filing guidelines. We are seeing more and more insurance companies requiring practices to submit dental claims within three months, or 90 days after the date of service. Those 90 days can come and go very quickly. This means that practices are putting themselves at risk for having to write off that hard-earned money.
To be successful, it is critical that a practice stays on top of aging insurance claims. It is essential to run the claims report on a weekly basis and follow-up on each claim every 30 days. Ideally, when you run the monthly aging claims report there should be no claims that are over 90 days.
Taking Control of Aging Claims
For dental practices that have a growing list of aging claims, it can seem like an overwhelming task to take on. While at first it is very time consuming, after working the list for a few months, it should be much more manageable on a weekly basis. Once they are caught up, most practices only have to spend a couple hours a week on it. This is guaranteed to be time that is well worth the investment.
If you are one of the many busy practices that already has a growing claims list, now is the time to turn it around. Procrastinating can have a drastic impact on the money in your pocket.
If your team does not have the capacity to tackle your outstanding claims list, there are options available. Outsourcing aging claims can be an easy, turnkey solution, that doesn’t take your internal team away from your patients or involve after hours work.
Don’t put aging claims on the back burner one more day! Develop a plan to make sure claims don’t hit that 90-day mark, to ensure that you are receiving prompt payment for your services.
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