Dental insurance verification is a complex process primarily because it entails obscure dental plans that usually have a long list of terms and conditions, service benefits, exclusions and more. In the year 2020, many dental practices chose to outsource the dental insurance verification process to a third-party company to overcome the increased amount of complex administrative work. By outsourcing this task, dental hospitals could focus on other management tasks. In the pandemic age there were various benefits of outsourcing dental insurance verification process. As the pandemic continues to loom in 2021, the importance of outsourcing dental insurance verification has grown exponentially.
Significance of Outsourcing Dental Insurance Verification:
- Highly experienced third-party companies
Most of the reputed dental insurance verification companies have substantial experience in this field and so guarantee accurate verification services. Outsourcing tasks such as scheduling patient registration, coverage assessment, insurance pre-authorization and notify policy exclusion will free the front desk of the healthcare provider to shift their focus on other healthcare management tasks. With increased workload for physicians and the front desk due because of the pandemic, outsourcing these tasks will immensely help dental hospitals immensely in 2021.
- Certified outsourcing companies
Reputed dental insurance verification companies are HIPAA compliant and ISO 9001: 2015 certified and adhere to all the guidelines and rules. These certifications bind third-party providers to offer flawless dental insurance verification services. Like any other time, these companies ensured there was no compromise in the quality of their services during the pandemic. Most importantly, these companies hold security certifications that guarantee the confidentiality of all the clinical data that would be shared by the healthcare provider.
- Quick turnaround time
Outsourcing dental insurance verification in 2021 will help dental hospitals maintain quality, accuracy and ensure compliance. These companies leverage their years of experience to shorten the turnaround time making it quicker for the medical services to reach out to patients. The shortened turnaround time would lead to faster payment collections and shorter AR. This is beneficial for healthcare providers to get better cash flow considering the economic consequences that the pandemic has given rise to and the impact of which is likely to continue this year.
- Better scalability
When there is an increase in patient inflow, it gets difficult for in-house staff to manage administrative tasks. This is when outsourcing dental insurance verification will come to their rescue. Third-party service providers have large number of staff who can tackle increases patient inflow. In case there is a decrease in patient inflow, the number of back-office staff members can also be downsized. This flexibility to scale will help the medical service providers during this pandemic and thereafter.
- Cost-effective services
Dental insurance verification companies give pocket-friendly payment packages that help dental providers save on costs. This can be particularly handy in a pandemicEquipped with the most efficient and latest infrastructure to support the process of dental insurance verification and having round the clock service availability, third-party support providers can make the process more efficient for dental hospitals.
It has been a tough time for most dental hospitals in this pandemic. Most of them have been able to avert losses by outsourcing dental insurance verification services. As conditions continue to be unrelenting in the days to come outsourcing dental insurance verification can be the best option for dental practices.