Total Solution to Your Cash Flow Problem: Get Cash & Fix Your Billing
Cash flow is a problem in most Dental Offices today. This is because the insurance payments are delayed, insurance claims are back logged for submission, claims need correction and follow-up but there is lack of man power or time to do it. The Dental Industry is becoming dependent on insurance reimbursements and affected by insurance tactics to slow down payments such as "loss" of sent claims, plan specific clauses and denials, demands on high detail for claim approval, and requests for submission of supporting documentation. Another issue is the employees. Many of our colleagues, find themselves at the mercy of their team to run business operations, while the Dentist works on patients. If systems are not consistently followed, there are no established billing systems, or there is limited skill and knowledge, the business cash flow will decline. The result is that the money is tied up and there is reduced cash flow for operations. Up until now, the Dentist had 2 solutions to improve their cash flow.
- Borrow money as a buffer
- Improve their billing efficiency
- Increase Volume Production
Borrowing money is not easy because not to many companies give out unsecured loans. Bankers Healthcare Group, BHG, is one of the only companies that is dedicated to providing hassle free, unsecured loans for that purpose within 3 days. The downside is that the cash loan is a temporary fix for the true underlying problem with the dental billing.
Dental Claims Cleanup has helped many offices get back on their feet by fixing the dental billing. We, either, take over the billing completely, or we recover the cash, setup systems, and hand it back to the office. Unfortunately, it takes a few weeks to get a response from insurances and get payments. This is because the insurance companies have up to 30 days to respond to corrected claims. What we have found is that there are many Dentists that still need immediate cash to have money for operations or catch up with due bills. Recognizing this issue, we recently partnered with BHG to help Dentists obtain cash fast. Our joint venture program provides the Dentist with operational cash and payment for our services which can be financed over time while we fix the business operations, specifically improve the cash flow due to unresolved dental claims and unpaid patient balances. We are very proud of this program because together we now provide a complete solution.
We encourage you to run the aging reports and see how much money is tied up in insurance claims and how much money is unpaid in patient's balances over 30 days aging. There should be no more than $5000 to $10,000 in accounts receivable over 30 days for every $80,000 of net production. If your accounts receivable exceeds the limits, it will take man power and skill to recover these funds before the claims are expired (due to timely filing) or the patient's balance is aged over 120 days and difficult to recover.
We have selected BHG as a partner because of their excellence in customer service, their attentiveness, and because they truly care about their clients. Independently, they provide the necessary finances to temporarily allow business operations to go on. However, together we provide you cash and we fix the business operations to improve the long term health and wealth of the business. Our lending program provides operating cash, as well as, financing for our billing services at a comfortable monthly rate hassle free. Please call us with any questions or use the application links above.