Introduction
Did you know that nearly 65% of denied dental claims are never recovered? Many dental practices and DSOs rely on outdated manual processes for tracking claims, leading to inefficiencies that cost time and revenue. While these manual efforts seem like a necessary burden, they actually result in hidden expenses that can cripple your practice’s financial health.
In this blog, we’ll explore the hidden costs of manual claims tracking and how automation can help you recover lost revenue, reduce staff workload, and improve the overall patient experience.
The Financial Impact of Manual Claims Tracking
1. Lost Revenue from Denied and Unpaid Claims
Insurance claims are a major revenue source for most dental practices, yet a significant percentage of denied claims go unappealed. Staff members often lack the time to follow up on every denied claim, leading to unnecessary revenue loss.
Key Stats:
- Nearly 19% of in-network insurance claims are denied, according to KFF.
- Dental practices spend an average of 10-20 hours per week manually tracking claims and handling denials.
2. Increased Administrative Costs
Manually tracking claims requires significant staff time. From navigating insurance portals to making follow-up calls, your team spends valuable hours on tedious administrative tasks instead of focusing on patient care.
Hidden Costs:
- Increased payroll costs due to excessive admin hours.
- Reduced operational efficiency due to manual errors and delays.
How Manual Processes Affect Patient Experience
Delays in Claims Processing Impact Patient Satisfaction
Patients expect smooth interactions with their dental providers, including fast insurance processing. Delayed or denied claims can lead to billing disputes and frustration, ultimately harming patient retention.
The Solution: Automated Claims Tracker
Automated claims tracker can transform your revenue cycle and patient experience by eliminating inefficiencies.
Benefits of Automation:
- Real-Time Claim Status Updates: Reduces time spent checking claims manually.
- Faster Claims Processing: Reduces denials through improved accuracy and tracking.
- Lower Administrative Costs: Frees up staff to focus on patient care instead of chasing claims.
- Improved Revenue Collection: Ensures claims are followed up, reducing revenue leakage
It’s Time to Stop Losing Money
Manual claims tracking is costing your practice more than you realize. By switching to an automated system like Dentistry Automation’s Claims Tracker, you can recover lost revenue, reduce staff workload, and enhance the patient experience.
Take Action Today! Don’t let inefficient claims tracking hold your practice back. Book a demo today to see how automation can help!