Tips for posting dental insurance payments to your software

As you move through the dental billing process, it’s important you execute each step accurately and efficiently. One of the last strides of the dental charging process is posting your insurance guarantee payments to your training the board programming. This step finishes the life-pattern of the insurance guarantee and assists you with monitoring each payments . Despite the fact that this step appears to be plain as day, knowing the prescribed procedures for each step of the dental charging cycle can work on the monetary soundness of your dental practice. Dental Claim Support is a charging administration that posts protection payments consistently for dental groups. Through ten years of this experience, we know some easy and helpful ways to help your posting be accurate, efficient, and organized.
In this article, we will share 4 tips for posting dental insurance payments to your training the board programming. These tips range from how frequently you ought to post, to how you want to at the same time accommodate your posting with your ledger, to guarantee the genuine installments were likewise stored into your financial balance. Let’s dive into tips for posting dental insurance claim payments to your software.

Why should I post claim payments to the software so quickly after I receive it?

Our dental billing experts recommend your office post checks within a day of them arriving in the mail and/or being directly deposited into your bank account in order to keep cash flowing. Assuming you have patients every day, and you’re sending claims every day, you should be receiving payments from insurance carriers most days, thus posting daily payments.
Depending on when the mail comes in and how many EFTs (Electronic Funds Transfer) you receive, your office ought to accommodate these payments day to day. On the off chance that you’re not doing this day to day, it ought to be essentially a couple of days of the week. Making a daily schedule and carving out opportunity for posting installments is useful while getting done with this responsibility. We conversed with a previous office supervisor who said he preferred posting installments simultaneously consistently. Every office has its own system, but dedicating at least a few days a week to post payments that come in that same week is important to a healthy practice cash flow and organization.

1. Post dental insurance payments within 24 hours of receiving the deposit

This seems obvious, but you’d be surprised by how many dental teams put off posting payments into their practice management software. When the group sees the cash stored into the financial balance, they could think, “We got compensated! That guarantee is marked off the rundown!”
However, you’ll have to present the payments on your training the executives programming too. Doing so keeps all of your data appropriately archived and detailed. It permits you to tell the patients what has been paid and what their monetary obligation might be. It likewise finishes the life-pattern of a case and you will actually want to finish it off, eliminating it from the insurance maturing report. Patient payments likewise should be posted quickly with the goal that your patient bills and income numbers are precise and reduce the chance of deficient assets (also known as, skipped checks). Besides, posting the case installment applies a sound representative for the patient’s record. This either leaves a balance owed by the patient that needs to be collected, or hopefully creates a “zero-balance”.

2. Learn the tools that optimize efficiency: the bulk payment software feature

Posting bulk insurance payments (multiple payments on one bulk check from the carrier) can be a tedious task. We recommend you learn how to set up your software to handle these “Bulk Insurance Payments.”
When you properly set up each patient’s insurance plan, you can use the Bulk Payment Feature in most practice the board programming programs. Every product does this a piece in an unexpected way, yet as a rule, can enter your mass insurance transporter check with the all out check dollar sum and really look at number. You then click a button and burden all remarkable insurance guarantees that have a place with that normal transporter. When the cases for the patients that have a place with the mass protection check are stacked and patients who are not on the mass check are taken out (with a basic snap), you can undoubtedly apply any protection benefits, notes, and the real payments for that specific case (detail included). Most programming projects will likewise permit you to effectively take a gander at the record, patient, protection, or exchange/record screen while mass posting. There is normally a setting to provoke you for optional cases. In the event that you are new to posting a mass protection check in your product, we energetically suggest you contact your product support group to find out about this component, how to set it up, and the advantages it will provide for your practice.

3. Post your insurance payments and insurance write-offs by “Line Item” and by procedure and provider

You should always post the payments and adjustments by procedure and provider. Assuming that that supplier did the treatment and there is a discount, the payments and discount are presented on the strategy and the supplier of the help. You ought to likewise check your EOB’s and save your Eft’s/ERA’s into a solid record coordinated by “date posted.”
While posting your insurance payments you ought to be in a tranquil region without any interruptions that could intrude on your fixation and spotlight on the subtleties recorded on the EOB/ERA or EFT. It is particularly indispensable assuming you pay any representative or partner in light of the net assortments (after the limits or PPO discounts). It is truly challenging to follow individual assortment sums physically and most practice the board programming projects can be set up for partner following. If you are unsure how your software is set up to handle your provider production/adjustment or collections, contact your software support team for directions.

4. Balance your posted payments with your bank account deposits daily

Another facet of posting payments to your practice management software is reconciling those payments with what is deposited into your bank account. These numbers need to coordinate. However much that the insurance agency has paid you, is a similar no matter how you look at it in your ledger and programming. We suggest your group adjusts your posted payments and your bank stores everyday, or 24 hours inside getting payments . Here is another little admonition: When posting enormous payments (upwards of $25k), offset the payments with your ledger part of the way through. Because it’s such a large sum, you want to make sure it’s all correct.