With a new year upon us, many of us wish that money grew on trees. Even though that’s only a wish, there are small changes you can make for your business to see costs diminish leaving you more money for the important things.
Many dentists find significant savings switching from paper-based claims to electronic. Since sending paper claims has been “a way of life” for dental offices, it can be hard to see the small costs adding up.
For example; the cost of a stamp, envelope and any paperwork you send costs about 90 cents. If your office includes diagnostic images or other documentation, additional costs can be up to 75 cents per claim. With that being said, an office sending 200 claims a month would have a $330 monthly cost or a $3,960 annual cost!
Electronic claims processing companies have come a long way in recent years. Today, they offer integration with practice management software, a wide range of payer networks and claims-processing costs as low as 24 cents per claim. If you want to send digital diagnostic images with your claims, there is typically a small cost of $31 per month for this service.
This all means the same office sending 200 claims per month at the 24-cent rate will see a total monthly cost of just $79 with an estimated annual cost of only $948!
So, what would you do with a newly found $3,000?
Contact The Digital Dental Record at 800-243-4675 to save money now with electronic claims.
Read more about paper vs. electronic claims on Business of Dentistry
