Cathy Jameson of Jameson Management talks insurance. Insurance does not have to be a necessary evil for dentists. Proper management of insurance claims can make the whole process much easier for the dentist and dental team.
In this video, Cathy explains that in most practices, insurance checks often represent about 50% of the practice income. Therefore this portion of the practice should be monitored with extreme accuracy. Accepting insurance is a professional courtesy to the patient, and an asset to the practice.
A simple and effective process for filing and followup is critical. Patients must understand clearly their estimated financial responsibility, and be asked to sign a financial agreement. Cathy discusses the three reasons predetermined patients go untreated, and when filing a predetermination of benefits is appropriate.
She suggests some questions to ask yourself to evaluate your present insurance processing system, such as, is insurance being processed daily, or, do you have a filing system for pending claims? Insurance management if very involved and detailed no matter which system you use, and hopefully you're more electronic than not. Addressing these questions will help your practice handle insurance more effectively. If you want timely payment from insurance, careful insurance management is a must. Watch the video for proven helpful advice.
For more helpful everyday practice management tips from Jameson Management, watch these practice management videos.
