Improve Profitability through Clean Claims

With almost 11 ADA recognized dental specialties and having a burgeoning market share, the specialty dental business is here to make significant gains in the coming years as we take a cursory glance on the latest trends of the dental industry.

Listen to Ryan Arnold, Principal, Wisdom Teeth Guys as he explains the possibilities that lie ahead for Dental Specialty business and how he has paid attention on patient care,technology adoption and brand management to further sustainable practice growth for his specialty.

Dentistry's Inner Circle bg 37

Creating Sustainable Specialty Dental Businesses

Dentistry's Inner Circle Podcast

A series of podcasts from practice owners on how they navigated the change and successfully transitioned to CareStack. 

Beatrice Perez

Ishtiaq Rouf

Dana Veach

Dr. Himesh Kana, DDS

Himesh Kana

 Penny Filipe

Operational Performance Will Define the Next DSO Era

Building CareStack's Partner Ecosystem

Dental Revenue Cycle Management: Automating Fee Schedules

When Capital Tightens, Operations Matter More Than Ever

Reducing patient no-shows and cancellations begins by accepting that 

it’s impossible to guarantee that your patients will always keep their appointments

. Once you accept that this falls outside your control, you can pool your efforts on the aspects that are within your control, and which help reduce no-shows and cancellations.

missed appointments cause a ripple effect

 that impacts your schedules, revenues, and the effectiveness of treatments. It strikes a serious blow to your bottom line. But with that said, there are 

effective safeguards you can put in place

 to address this issue. Before we explore these safeguards, let’s examine the key reasons behind no-shows and cancellations. 

Typically, patients miss their appointments when they:

Don’t understand the importance of keeping their appointments

Misunderstand when their appointment is scheduled

Self diagnose and decide to skip their appointments

Worry about bad news and try to avoid the situation

Have a shallow relationship with the provider

There is a wide range of reasons for patients to miss their appointments, but most can be mitigated with improved patient-provider communication and by implementing the following safeguards.

It became widely accepted as a care delivery method after the 2020 pandemic, but thanks to the convenience offered to patients, 

 is here to stay. Outside the initial check-up and actual treatment, consultations and routine post-op visits can be performed remotely. The virtual interactions offer patients the opportunity to 

receive treatment in the comfort of their living room

 or office. The added benefit of leveraging teledentistry is it adds one less reason for patients to rethink or opt out of their dental appointments. 

Another approach that has gained traction is using 

 to collect vital patient information. E-forms are a key feature of modern practice management software (PMS). This feature is now used widely to stay in line with the COVID-19 safety protocols. With this new norm, practices have completely replaced the clipboard and embraced digitization. Another fact that supports this approach is that 

98% of patients who take time to fill out online forms commit to their appointments

COVID-19 has added fuel to the fire of dental anxiety among patients. The risk of exposure is a valid fear. The best way for you to 

 is with communication and education. Ensure you convey the safety protocols and measures followed at your practice to reduce the risks from COVID-19. Launching targeted email campaigns, and updating relevant information on your practice website and 

convey your commitment to patient care and safety

 and encourage patients to follow through with their appointments.

When you provide your patients with the option to make payments in advance, it reduces the instances of no-shows and benefits your collections and accounts receivable. Get paid upfront instead of having to wait for 2-3 months. Paying cash in advance leads to 

. You can provide this option during patient checkout, especially when both you and your patient agree with the importance of scheduling the next appointment.

Offering upfront payment at this stage is apt, as the patient is likelier to take action and commit to their oral health. Another way to make it easy for them to pay is by providing an 

. Make sure that you inform your patient about your prepaid payment options. Market it through your campaigns, newsletters, and phone scripts.

Reminders are an effective way to reduce patient no-shows. Plan your 

and decide on a frequency that works best for your target clientele. Start off with a postcard, followed by email and text reminders. Add a phone reminder a few days before the scheduled appointment. Ensure that you cut down on reminders once you receive confirmation from your patients. Practice management software aids you to launch, coordinate and track your recall campaigns effectively.

reward patients who keep their appointments

. The reward initiatives can include discounts or gift cards. The benefits of such an approach are twofold. You encourage your patients to follow through on your appointments and 

convey how much you value their participation

. Moreover, curating such experiences helps you retain your customers.

Sometimes, patients simply forget an appointment. Send 

 that can include a “We missed you at the practice” message. Follow this up with a phone call to encourage them to reschedule immediately.

It is crucial that your patients know the impact of your treatments on their oral health. If your patients are not invested in the outcomes of your treatment plan, it is unlikely that they will uphold their commitments. 

 before every appointment. Remind them of the benefits of the procedure and the progress they’ve made so far. 

 of the scheduled appointment and ensure that they are fully onboard. A phone reminder before the appointment will help refresh what they already know about the 

Patients skip appointments because they owe your practice money or are worried the procedure will be too expensive. When this happens, it’s time to 

. It’s important that payments never come as a surprise to the patient. This causes anxiety in the patient, especially when they expect hidden expenses from each visit. When 

 and benefits are discussed upfront and agreed upon, patient no-shows due to financial concerns can be avoided. 

 allows you to effectively educate and communicate with your patients. Automating tasks like appointment reminders or confirmation/cancellation emails, filling last-minute openings, and sending online forms and other notifications to engage patients, practices can drastically cut revenue loss and staff workload while reducing patient no-shows and cancellations.

Eliminating No-Shows and Cancellations at Dental Office

For a dental practice, revenue cycle management is the equivalent of the body’s circulatory system and the heart of a practice’s financial success. The revenue cycle incorporates data capture, claims and denials management, and the collection of payments from both patient and insurance receivables. A healthy system works in concert with industry best practices and technical solutions to optimize efficiencies, identify “leaks” and improve operational workflows. As every practice is unique, it is difficult to prescribe a “one size fits all” approach. However, there are key performance indicators, which can and should be followed to measure practice performance. There are several potential KPIs which provide valuable insight into the collection’s performance and financial health of practice including, but not limited to: Collections percentage, Production growth, Aging accounts receivable, Days sales outstanding, Adjustments percentage, and Credit balances. 

Since 2011, the dental industry has experienced a steady and upward trend in aging receivables, with the majority of balances aged greater than 90 days. The good news is that CareStack offers a solution that combines modern technology, effective processes, and industry expertise to kick start the heart and breathe life back into the revenue cycle.

Revenue Cycle Playbook for Dental Professional

Revenue Cycle Playbook for Dental Professionals

From small, solo practices to large, multi-location clinics, these case studies demonstrate the versatility and value of CareStack in improving the patient experience and driving practice . 

Profitability is a crucial aspect of effective practice management. Healthy profits better enable a practice to provide cutting-edge services and convenience to their patients.

But before we explore the various methods to increase profits, let’s establish how profits are calculated in a practice. The following formula sums this up well.

Profits = (Total no of visits Production per visit Collection efficiency) – Overheads

Keeping in mind the key elements of the profit equation, namely patient visits, production, collections, and overheads, let’s dive into some best practices to increase profits at your practice.

Best practices to increase profits at your practice

Expanding the range of services offered at your practice will help double your revenue. Practices that refer out patients end up performing 60 procedures per year, while practices that make the most of their offered services may be able to perform up to 120 procedures per year. By offering more procedures, you reduce the number of patients you need to bring in to achieve the same revenue goals.

This approach increases the production per patient, as you maximize the revenue from each patient visit. You no longer have to rely solely on increasing patient visits (for a limited range of services) to increase your profits. Additionally, when you decrease the range of services, you will need to refer your patients elsewhere. Simple oral surgery, Invisalign, cosmetics, occlusal guards, mini-implants, sedations, automated endodontics, and soft tissue programs will all help increase your profits.

Challenges in insurance payments largely occur, thanks to the tug-of-war between insurance carriers and dental practices. While a practice seeks to collect payments from carriers, insurance companies reject claims that don’t fall within their parameters of acceptance. Add to that, the complexity of claims processing, and we can see an average practice forfeiting around 9% of its yearly production to uncollected insurance revenue. When you crunch the numbers, the ramifications are astonishing.

Annual revenue generated by an average dental practice is around $1,500,000. The average annual revenue lost in uncollected insurance benefits is around $135,000. The average uncollected revenue over 30 years is $4,050,000. To add insult to injury, to write off the debt as uncollectible, a practice has to clear audits by the IRS and prove that it has taken reasonable steps to collect the debt but was unable to do so.

To excel in insurance billing and payments requires knowledge, experience, and efficient processes. Challenges in maintaining the right staff and expertise, managing staff turnover rates, and the ever-evolving complexities of the insurance ecosystem, makes 

 a viable alternative. The core responsibilities handled by your practice, naturally make it difficult to provide uninterrupted time, attention to detail, and the consistent focus required for insurance collections. Hence it is vital to seek out a billing support provider with high-caliber staff, round-the-clock support, and an excellent track record.

What differentiates you from the competition, and why does it even matter? If you don’t stand out from your competitors, your patients will choose the least expensive service available. Your website should have key messages that appeal to your niche. This includes the services you offer (extractions, implants, restorative services), the people you wish to serve (seniors, children, young adults, ethnic or religious communities, women, working professionals), the locations where you serve, and the value benefits that are unique to your practice.

The cardinal rule for generating leads is to provide value-based content for your audience. Content can be classified into awareness-based content and consideration-based content. Blogs, videos, how-to guides, testimonials, and success stories fall within awareness-based content. Consideration-based content generally includes industry-specific 

 which are fact-based, include supporting data, and provide valuable insights. These help you establish credibility as both a professional and an expert in the eyes of your audience. Professionalism and credibility are key factors that influence patient purchase decisions. 

 button on your website is a vital call to action that qualifies as a ‘must have.’ These need to be embedded across most pages of your website and should allow visitors to schedule their appointments, within minutes. An efficient 

 can be linked to your website to instantly log appointment requests to the software. It also helps you with 

 that make scheduling a breeze for new patients. 

Dental anxiety among patients is a leading factor that impacts visitations. Thanks to Amazon, reading reviews before every purchase is the new norm among consumers. Negative reviews will add fuel to the paranoia that patients already have about dental procedures. But what happens when you do get a negative review? During such instances, it is crucial to take the interaction offline and ensure that you resolve patient concerns. Follow this up with a request, asking them to reconsider and update their reviews. Handling negative reviews is one half of the coin, the other has to do with religiously collecting positive reviews from your existing patients.

Practice management software allows you to 

 in a manner that is convenient to both the practice and the patient. Use the law of averages to work in your favor. A higher count of reviews reflects positively on the professionalism of your practice and encourages new patients to choose you over your competitors.

Your front office marks the first interaction that patients have with your practice. This includes your team of receptionists, scheduling & treatment coordinators. The front desk handles activities that range from answering phone calls, resolving queries, handling new patients, verifying insurance, managing registrations, scheduling appointments, follow-ups, rolling out reminders, and presenting patients with their treatment plans. While patients acknowledge the need to visit a dentist, they must pay for a service and put their faith in the dentist's expertise. There are no trial runs or tangibles to measure the quality of care.

Patients are left with no choice but to rate treatment and assess a practice based on its conduct towards them. This includes how they’re greeted at the front desk, the cleanliness and hygiene of the practice, how quickly their concerns get addressed, conveying the importance of hygiene and oral health, payment plan customizations, and how treatment plans get discussed. This is not the best way to rate treatments, but this is how patient perception works. To ensure loyalty and revisits from patients, it’s important to delight your patient through every stage of their journey within your practice.

The hygiene department at a dental practice can contribute up to 1/3rd of the total revenue received from treatments. A large chunk of these treatments come from re-care patients. The primary objective of a dental hygienist is to provide a framework of patient care that helps identify the oral health conditions that can be prevented by dental hygiene care. Having a patient coordinator dedicated to driving engagement for re-care patients ensures that you grow your patient base while having ready alternatives to fill your schedules in case of no-shows and cancellations. The bottom line is that focusing on your recall systems is guaranteed to grow your production volumes.

 is where your patients receive special benefits and discounts for a yearly or monthly subscription to the services offered at your practice. The obvious benefits of such programs are it guarantees a predictable source of recurring revenue and helps you stay prepared to streamline insurance payments from known patients.

When patient referrals account for a major chunk of new patients for a dental practice, it becomes vital to pay attention to your referral programs. Thanks to social media, people are connected like never before. It plays a vital role in multiplying word-of-mouth referrals. Once you’ve nurtured a loyal pool of patients, it’s important to acknowledge their contributions when they refer a new patient to your practice. Create referral cards, send out thank you notes, offer incentives, and leverage email & social media marketing to reward loyal ambassadors of your practice.

Last but not the least, reducing overheads directly impacts your profits. A general approach that is followed to reduce overheads is by cutting unnecessary expenses or finding a less expensive supplier. But the major chunk of overheads comes from payroll, which usually runs from 20-55% of overall practice expenses. Ideally, this figure shouldn’t cross the 35% mark. Outsourcing and investing in practice management software that provides value without adding more staff members help mitigate expenses.

Boosting patient volumes, flawless and timely 

, and lower overheads help drive the profitability of a dental practice. 

 that reduces costs while adding value to all aspects of your practice formula for profitability.

How To Improve Dental Practice Revenue and Profits

Increasing consolidation by Dental Service Organizations (DSOs) and group practices, is reshaping the dental industry. 

 continue to grow, they must rely on technology solutions to scale sustainably.

So what is sustainable scaling, and how does it impact long-term profitability and value? For group practices and DSOs, scale is not just about growth. It's the ability to 

, reducing quality, or changing the organization's core values.

 with cloud-based practice software that meets their unique needs. Cloud-based systems don't require extensive hardware purchases, and 

 online by authorized administrators. They are browser-based, which means you can access them from anywhere and from any device.

Before we explore the value-add from cloud-based systems, let's look at the available alternatives.

Why Cloud-Based Practice Management Solution Is the Next Big Thing

Legacy systems predate cloud technology and are still being used widely in the dental industry. They store information on local devices and servers, thus requiring one's physical presence at each location to do the work. These old 'bolt-on' software, as they are aptly named, come with pre-set features that 

lack flexibility, have higher maintenance costs, and require constant upkeep

Moreover, practices have to employ dedicated manpower to maintain both the hardware and software for each practice location. The frustration to collect and compile data across locations and the 

 lower the appeal for these outdated systems. While 83% of healthcare organizations have adopted cloud-based solutions, this technology wave is yet to catch up in dentistry.

The cloud-based systems are here to stay, especially with both Group & DSOs targeting sustainable growth. Let's look at how cloud-based solutions help 

The subscription-based cloud-practice management software not only lowers cost but also provides value with the many advantages provided through its 'pay for what you use' payment models. They require little in the way of local hardware beyond computer workstations and internet access. A major portion of these savings comes from 

. Traditional multi-location legacy systems require extensive hardware, trained personnel, and frequent maintenance. This includes upgrades and maintenance to both hardware and software.

vendor charges you for the legacy software as upfront costs

. This doesn't include the hidden costs of the infrastructural backbone necessary to support legacy software. Costs increase over time for comparatively limited benefits, especially when scaling your business across multiple locations.

With centralized data, both patients and providers can travel to 

different locations without the need for duplicate records

. It brings clarity to provider compensation and streamlines collections. Moreover, cloud-based systems reduce data duplication and end piecemeal reporting, fragmented 

Issues such as collection delays, the duplication of bills and patient records, higher staff turnover rates, stagnant growth, and patient dissatisfaction are strong indicators to consider adopting cloud-based solutions for a centralized data structure. Embracing data centralization can optimize your organization's workflows for key business functions, as you continue to expand your practice locations.

With legacy desktop systems, locations aren't on a centralized system, and management has to pull reports from each system and compile them for a comprehensive overview of their performance at the enterprise level.

Modern cloud-based practice management systems 

 to vital practice data across multiple locations from anywhere and on any device. This level of access negates operational and administrative hassles while increasing the overall efficiency and productivity of the business. They provide a single source of truth for groups and DSOs to access and monitor real-time data on practice performance.

Legacy systems have the practice's patient records and other sensitive information stored locally, on-site, on computer hard drives, or practice servers. This leaves them vulnerable to theft or damage, despite backups and security routines. HIPAA breaches result in heavy fines and loss of credibility in the eyes of your patients.

Unlike bolt-on systems, where you single-handedly shoulder all the risks, cloud-based systems have much more robust features. A qualified team gets solely tasked with monitoring risks. In the eventuality that a breach might occur, cloud-based providers stand alongside you for resolution and support.

With cloud-based PMS, users log in to access the latest version of their software. These seamless software updates are a far cry from the cumbersome upgrades for desktop systems. There is no need to keep track of license versions, downloads, and setups. Moreover, cloud practice management software incorporates the latest updates on industry and regulatory changes on recurring release schedules.

The benefits of cloud-based PMS to achieving sustainable scaling are undeniable.

 The cloud-based practice management solution from CareStack provides you with centralized control of 

. Moreover, regular updates, cost savings, 

 are factors that contribute to the organizational scalability of your multi-location dental organization.

Scaling Sustainably with the Cloud

Compassionate communication with patients should be considered as part of the cure and plays an important role in practice success.

With dental anxiety being one of the top reasons impacting dental visitations, excellent patient communication becomes crucial.

Establishing good, clear, and structured communication

 with patients is vital for proper diagnosis, effective treatments, and quality care for your patients. 

Ignoring Your Patients: Front Office & Clinical Staff Conduct

can make a patient confused and emotionally stressed

 when they leave your practice. While front office systems mark the first interaction the patients have with your practice, clinical operations cover everything that falls between the initial consult and diagnosis to case acceptance. Together, these critical practice systems form the core of your patient experience. 

 for both of these systems. The front desk handles activities that range from answering phone calls, resolving queries, handling new patients, 

. Clinical operations handle patient transitions through diagnosis, consultations, plan presentations, and addressing patient concerns regarding treatments.

It must be consciously ensured while juggling multiple tasks that your 

. While nobody does this on purpose, it is an unfortunate and critical outcome that starts to creep slowly into your practice culture. This normally happens when a practice prioritizes efficiency over patient comfort and is a trait that needs to be watched out for and avoided.

Patient feedback is a luxury. Not all patients provide you with inputs on staff conduct and care experience. They leave and move on to the next practice.

Negative communication includes both verbal & non-verbal communication. The rolling of the eyes, an aggressive tone of voice, and the sigh when answering a question, are cues that reflect your attitude. These are strong indicators for which patients remain alert to judge the quality of practice. 

A negative attitude affects both patients and internal staff alike.

Another ‘must avoid’ is second-guessing decisions made by doctors in front of patients. It’s important to have an honest and open communication culture, but not at the cost of undermining the credibility of the dentist in the eyes of the patient.

The next item on the not-to-do list is office gossip. It is a healthy practice to 

. While this may seem like a good way to keep things jovial at the workplace, it can soon turn toxic and take over the work culture. Moreover, 

patients can quickly pick up the vibe of the office

, and gossiping impacts how patients start viewing your practice.

Professionalism & Confidence: Stop Using ‘No’ and ‘Maybe’

Professionalism and patient care rank among the top two parameters considered by patients when they choose a practice. Patients are already anxious about dental procedures and their associated costs when they turn up.

patients want to entrust their oral health in the hands of confident professionals

 who know what they are about. There is no way patients can judge the quality of treatment other than relying on physical cues and the attitude, conduct, and professionalism of your staff. It is important that your staff understands this. 

Avoid using ‘Maybe’ and ‘No’ when interacting with your patients, be it while discussing treatments, greeting them at the front desk, or how you address patient queries. Instances where your employees are unaware of how to address certain queries, especially in the case of benefits coverage, need to be handled with skill and confidence. This is when your call scripts, mock drills, and training pay off.

typical patient remembers less than half of what their doctor tells them

, especially when communicating treatment procedures. Try to avoid technical terms and industry jargon. The objective of patient communication is to 

people don’t usually acknowledge something that they don’t understand

. This holds true when explaining treatment plans to your patient, who hesitates to ask questions. The last thing you want is your patients to zone out and drag their feet during case acceptance.

Oral health is your number one priority when treating patients. On the other hand, this might not always be your patient’s first priority. While medical health is normally considered a top priority for dental procedures, your patients might consider their finances first.

This is when patients opt for quick fixes or delay procedures to cut down on their out-of-pocket costs. In such a context, 

patients deeply resent last-minute surprises

 in payments and the scope of benefits covered. 

Clarity and honesty on the cost of services are an integral part of the patient experience in dentistry. When communication of costs is carried out half-heartedly or without the proper attention it deserves, you lose credibility in the eyes of your patient. Once this happens, they start second-guessing all the previous and future treatments you recommend.

The Best Approach For Effective Patient Communications

Acing the Emotional Quotient: Listen, Empathize, Solve, Repeat!

Fostering loyalty in your patients and standing out from your competition requires more than competent dental care. Lasting relationships are built based on the value you provide to your patients. For a practice, this means going beyond competent care to embrace the emotional quotient of human needs. When your patients start seeing you as their personal oral-health guardian rather than just a dentist among many, you 

establish a strong foundation built on trust

Your employees need to understand this distinction. A practice is not just an outlet to sell services to consumers. The primary priority of your practice is patient health, and success is just the natural consequence of this focus. To achieve one, you must focus on the other. For this, you need to 

listen to your patient, have empathy and provide solutions to their problems

When you listen to your patients, it shows your depth of interest to solve their problems. Respect is nothing but paying attention. Listening connects a bridge of empathy with your patient that lets you go above and beyond conversation scripts to build lasting relationships.

Solving patient problems is a skill set that needs to be honed

 with consistency. Your passion for dentistry will get you started, but you need skill for the endurance required for practice success. This is where investing in continual improvement initiatives and training pays dividends for yourself and your staff. 

Communicate in Layman Terms: Before, During, And After Treatments

Using jargon and medical terms is a poor approach to patient communication. It is vital that you 

build a narrative that is relatable to the layman

. For instance, ‘carious lesions’ can be better expressed as ‘cavities,’ ‘periapical radiolucencies’ in a patient x-ray can be better described as a ‘puss pocket’ in their bones, and ‘periodontal treatment’ becomes ‘gum disease.’

At the operatory, don’t seat the patient and then leave without an explanation. Acknowledge the patient, and if they are in the mood, 

 being made. It’s beneficial to communicate the ‘what’ and the ‘why’ of the procedure while at the operatory. 

Check in with the patient frequently during the procedure

 and initiate efforts to make them feel at ease. 

Immediately after the procedure is complete, make sure that you communicate what has been done and discuss the next steps. Personally escort your patient out of the operatory while making sure that you let them voice their concerns and provide expert counseling to assuage their fears.

From using visual aids to explain complex 

, technology amplifies the quality of your patient communication and interaction. Practice management software (PMS) is a great investment that aids patient communication processes at a practice.

CareStack helps you roll out a structured communication framework that provides a convenient pre-visit process, 

 during visits, and ongoing post-visit patient engagement. CareStack features solutions such as easy-to-use 

 a breeze for both patients and the practice. 

The relevance of excellent patient communication is often downplayed and is considered an add-on to dental treatments. But 

from a patient’s perspective, communication holds equal importance, if not more

. Effective patient communication builds stronger customer relationships, develops customer loyalty, generates referrals, boosts patient volumes, and improves the reputation of your dental practice.

The Do’s & Dont’s for Effective Patient Communication

 leads the technology wave in dentistry and brings with it the benefits of automation. Dental practices can achieve new levels of 

 with automation and provide great value for their patients. Before exploring the ‘how’ of practice automation, let’s consider the ‘why’ of it first.

groups and Dental Service Organizations (DSOs)

 pushes practice owners to work harder than ever before. There is a massive need for dental practices to add value, improve patient engagement, and provide consistent quality of service. All this while reducing overheads and efficiently navigating the trenches of day-to-day operations. 

Automation is already playing a key role in increasing case acceptance, improving patient engagement, acquiring new patients, and streamlining communication and coordination between staff members and patients alike. With the new realities of Covid-19, 

 solution for dental practices to consider. 

Here are four processes that benefit from automation in a dental office:

1. Reminders: Treatment plans, Appointments, Patient recalls

 is a great way to improve patient retention and practice efficiency. A modern cloud-based practice management software helps you roll out reminders for multiple contexts. This includes but is not limited to 

 and patient recalls. Reach out to your patients, reach out to them in ways they prefer, like text messages and emails. 

Moreover, automating follow-ups effectively ensures that your patients are well cared for even 

. Let’s consider automation in the context of treatment plans. Once you’ve completed a treatment procedure and outlined the next steps, a follow-through email detailing the care instructions gets delivered to your patients. Automating this process, removes the possibility of errors and ensures that your patients receive necessary instructions before they get back home.

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