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In medicine, Revenue Cycle Management (RCM) is a standard feature that increases the speed and likelihood of insurer and patient payments. In dentistry, this is a relatively new feature, and one that Planet DDS, offers. It is especially powerful integrated with their Denticon software. What does that mean for a dental group? What are the services that a revenue cycle management program can offer?
One of the key benefits is speed of collections. Keeping claims from languishing and falling to the wayside increases revenue, and revenue cycle management provides automated tools that work to improve dental office billing and follow-up. In addition, auditing and analysis of claims to help dentists understand what is happening, which claims are most likely to have problems and how collections can be improved provides a broad overview to assist dental offices in making growth decisions.
Planet DDS has built this feature into their software, assisting dentists with billing insurers and patients to shorten the time spent on collections and increase ready cash. This can take 180 days or longer, which is detrimental to the dental office and decreases the likelihood of getting the payment. For that reason, software that assists this process can increase revenues dramatically. One way that Planet DDS improves dental office outcomes is by confirming dental insurance coverage for specific procedures, so that when a patient sits in the dental chair and contemplates a treatment, the costs are at the dentist's fingertips.
Planet DDS offers the kind of RCM services and information that only a cloud-based revenue cycle management solution can offer. Basically it’s RCM in a box for those groups that don’t have the resources or expertise in this area. Integrating information from insurers with business intelligence tools presents new, speedy, automated tools.
Bill Jackson, one of the founders of Planet DDS, has spent many years as a dental insurance executive and was the brainchild of the Denticon RCM integration.
I Interviewed Bill about the kind of services and information that cloud-based revenue cycle management can offer, and how groups and practices can benefit.
About the author
Mike Uretz is a nationally-recognized dental software and Electronic Health Records (EHR) expert. He is the founder of DentalSoftwareAdvisor.com as well as the Dental EHR Editor for Dental Products Report and conducts a popular podcast on dental software related topics.
As a leading industry consultant and educator Uretz has helped both individual and group practices evaluate and select software vendors and solutions, structure and negotiate vendor contracts, and provide vendor management. He also has assisted practices with obtaining subsidy payments through the federal EHR Incentive Program. Mike can be reached at firstname.lastname@example.org or 425-434-7102