Choosing a dental billing company for outsourcing your revenue cycle management can be a daunting task due to the intricacies involved in dental billing itself and the critical role it plays in a practice's financial health, as well as the morale of the team. With numerous companies of all sizes offering varying levels of expertise and services, practice owners and leaders often face confusion and uncertainty. Additionally, the lack of standardized pricing structures and transparency in some cases further complicates the decision-making process. We want to help prepare you to make a decision the benefits your team, and your patients the most.
Just as you carefully interview in-office team members for alignment and ability, partnering with a dental billing company should receive the same scrutiny. A sales call is akin to interviewing a prospective addition to your office staff, demanding the same level of attention to detail and consideration for compatibility.
Pricing transparency on a website is crucial for fostering trust and efficiency in the customer-company relationship. It provides clarity and eliminates surprises, saving time for both parties and facilitating informed decision-making. Transparent pricing allows for easy comparison with competitors, enhancing the company's credibility and reputation. This factor should be easily ruled in or out with very few questions.
Assuming pricing is very transparent and clear on a companies website, here are a total of 10 additional questions to ask prospective partners pertaining to outsourcing your dental revenue cycle management:
5 Standard Questions:
1. Practice Management Software (PMS):
- Are you well acquainted with our existing PMS? Can you seamlessly integrate with our systems, and perhaps share an example of yours?
2. Services Provided:
- Beyond what's on your website, what additional support can we rely on as needed? And equally important, what falls outside the scope of standard dental billing services? What sets you apart from competitors from a service perspective?
3. Start-Up Fees:
- Are there any initial fees or setup costs involved?
4. Equipment:
- Will we need any additional equipment for smooth collaboration? If so, are we responsible for the cost, or do you provide it?
5. Reporting:
- How does your team track data and ensure accurate account reconciliation? And most importantly, how will this vital information be conveyed to our team?
5 Deep Questions:
1. Outsourcing Practices:
- Do you outsource any of the services we're considering entrusting to you? Understanding the extent of outsourcing can assure reliability, control, and maintain quality standards.
2. Communication Structure:
- Who will be our main point of contact for daily, weekly, and monthly communications? What topics will typically be discussed during these interactions, and how will communication flow between our teams?
3. Internal and External Stability:
- How stable has your team been over the past year? What's the average duration of your partnerships with clients?
Understanding a company's stability can directly impact a partnership's consistency, reliability, and long-term success.
4. Technology:
- What technology do you have in place, or being created, that sets you apart from other companies? How will it benefit my practice, team, and patients?
5. Culture:
- How would you describe your company's culture? And, what's your team's number one priority concerning both your team and ours? Understanding cultural alignment can foster a harmonious and productive relationship.
Dental Revenue Cycle Management isn’t just posting insurance payments. It’s also accurate, clean, claims submission, appealing denied claims, insurance verification, patient billing, and working all aging reports. If any one piece of the puzzle falls behind, the financial health, and even morale of your staff suffer. This ultimately impacts the most important part of your practice negatively: Your patients.
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