What electronic statements could mean for your practice.
As Dentrix continues to support contactless checkout and online payment options along with tools to create a paperless office, we are excited about the electronic billing feature supported in the current version of Dentrix, Dentrix G7.3.1. QuickBill eStatements enables you to send paper statements, electronic statements, or a mix of both. And when you send electronic billing statements to patients, those patients have the option to pay their bills online instead of having to mail in a check or call the office to make the payment. Watch this video to see how QuickBill eStatements work.
Benefits of Electronic Billing
The benefits of introducing electronic statements into your practice extend beyond just reducing the amount of paper you use. One of the key benefits is that through electronic statements you can get paid from your patients quicker. Dental practices spend a lot of time and effort trying to get paid sooner from insurance companies but often not as much time refining the process of collecting from patients. Electronic billing allows practices to bill sooner and more often with less effort.
Arguably, electronic billing provides a more convenient way for patients to pay their bills by allowing them to submit payments online. Many consumers, particularly in the younger generation, pay virtually everything online. Electronic billing and payments gives these patients the ability to make their payments in a way that is important to them.
Compared to printing and mailing statements once a month, either using your own staff members or through a service like QuickBill, sending statements electronically is a less expensive option for your office. With electronic statements you won’t be required to spend money on paper, envelopes, postage, and most importantly, time.
All the benefits of moving to a paperless office aside, you might not yet want to completely remove paper statements from your billing workflow. According to a survey of more than 2,600 people, performed by the non-profit group Consumer Action, 74 percent preferred paper statements for their medical bills. Whether this is due to fear of missing a bill, familiarity with paper bills, or for some other reason, it may not be a good idea to completely remove paper statements from your process.
And when it comes to reviewing bills, findings from the same survey indicate that, “More than three-quarters (78 percent) of those who receive bills by mail said that they review the transactions printed on paper statements. Of those who receive bills electronically, only 43 percent—less than half—said that they go online to review their transaction details.”
A Good Strategy Is Warranted
As you evaluate your billing process to see where you could add electronic statements into the mix, it might be a good time to look other areas related to payment collections. For example, do you utilize patient payment agreements or recurring payment plans? If not, the automatic billing in such plans is one way you could certainly cut down on the labor required collect patient balances. Payment agreements will reduce the amount of both paper and electronic statements you will need to send in any given month. Through the Payment Agreement Manager in Dentrix Pay you can set up recurring payments to take care of patient balances with recurring payments. Watch the video to see how recurring payments work in Dentrix Pay.
It may be that you don’t want to settle on all paper statements or all electronic statements at all. The correct mix of paper and electronic may be the answer. Maybe you will want to send the initial statement electronically then subsequent statements by mail. The good news is that with QuickBill eStatements you can mix and match to meet what works best for your practice, and you can change that mix over time as you learn. Have fun experimenting!
To learn how you can begin adding electronic statements for your patients using QuickBill eStatements or how you can set up recurring payments in Dentrix Pay, contact a Dentrix specialist at 844-918-0210.
For other ideas about revenue cycle management and contactless checkout, watch the recorded webinar.
If you are a current Dentrix eCentral user with the Website Manager, read Enabling Online Patient Payments with Dentrix eCentral to learn how to set up online payments with your current system.
By Ken Woodbury, Senior Marketing Manager, Henry Schein One