
Nationwide, dental practices are facing rising overhead costs, increasing team salaries, and reduced reimbursements. How can today’s dental practices stay profitable while meeting the financial demands of efficient, patient-centered operations? Use the following strategies to increase your dental practice revenue and boost the productivity and profitability of your practice.
- Work on the practice, not just in the practice
Take the time to examine the financial health of your dental practice in addition to examining your patient’s oral health.
- Rebalance dental practice fees annually
Practice Booster’s Revenue Enhancement program is a great way to review your office’s coding practices and obtain updated fee recommendations.
- Properly report CDT codes
A dental practice may lose $100 to $500 per day by not coding properly or by having improperly positioned fees.
- Expand the practice’s procedure mix
The more procedures the practice performs, the less new patient flow is needed to produce a given revenue level.
- Maximize treatment revenues per visit
An important concept for dental practice profitability is to maximize the volume of high dollar-per-hour or dollar-per-visit procedures.
- Outsource select administrative tasks
Many tasks that take up large portions of time for the administrative team, such as dental insurance billing, working outstanding claims, benefits and eligibility verification, patient portion statements, credentialing, patient reactivation, collections, and accounting can be done off-site by qualified specialists.
- Visit colleagues’ offices to improve your own
A visit to a colleague’s office can lead to many new ideas and expand the dentist’s range of thought.
- Effectively use an intraoral camera
There is no better tool for treatment enrollment and procedure documentation than a good intraoral camera image.
These are just a few of the strategies for increasing dental practice revenue. Ready for more helpful information regarding increasing your legitimate dental practice revenue while mitigating risk? We’ve got you covered.
Code Advisor is the most comprehensive online database of CDT codes available. This powerful web-based search engine provides an in-depth review of all CDT codes to enable dental teams to properly report dental procedures. Plus, it is completely searchable, by either code number or by topic, word, or phrase, to maximize the efficiency of your coding team.
- Code Advisor’s Warnings, Cautions, and Matches use an innovative Predictive Error Correction™ technology, designed to stop coding errors before they happen
- Code Comments provide additional details on the proper use of a given CDT code, and Code Limitations highlight situations where the code may not be applicable
- Coding Tips and Narrative guidelines offer insight into properly reporting CDT codes to gain timely and maximum reimbursement on claims
- Flowcharts and images demonstrate the proper sequencing of procedures with the related coding techniques
- 6 paper issues of the Insurance Solutions Newsletter each year, plus online access to the past 3 year’s newsletter articles
Arm your practice with the best tools, resources, and training available to maximize legitimate reimbursement and minimize the hassles and exposures to audit risk.
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