If You Aren’t Following Your Insurance Payments, You May Be Losing Them

Many offices across the country are losing money daily on submitted patient claims due to two preventable factors:

1. Payments or electronic-fund transfers (EFTs) from insurance companies are sometimes sent to the wrong bank account or are not even received by the office, despite insurance companies claiming to have sent the funds; and
2. Funds that are actually received from the insurance companies are sometimes incorrectly applied.

It’s hard to think about, but the employees posting payments are human and sometimes humans make mistakes. The scary part of these human errors is that usually by the time the errors are discovered, it may be too late to fix because of filing timing restrictions. 

Dental accountants can monitor and track these EFT payments on a daily basis to review accuracy while ensuring the funds are applied to the correct patient accounts. This set of eyes can also catch any warning signs of embezzlement early. 

eAssist Dental Solutions has CPA certified, knowledgeable dental accountants that are ready to work with you and your practice needs. We can work with whatever dental software you’re using, and we offer an added perk of porting your accounting software over to QuickBooks online — for free. Why? Because we can more closely manage your books as well as give you, and anyone else you choose, direct 24/7 access to your accounting from a computer or smart device. This is dental accounting created by a dentist just like you.

Make sure that you don’t let any of your insurance payments fall through the cracks from this day forward. Adding a dental accountant will give you the financial peace of mind you deserve, and allow you to focus on dentistry and the growth of your practice.

Dr. James V. Anderson

CEO & Co-Founder, eAssist

Dr. James Anderson is a practicing dentist and the CEO and Co-Founder of eAssist Dental Solutions, the nation’s leading platform for dental billing. A serial entrepreneur, Dr. Anderson has built multiple successful ventures, including eAssist and nine dental practices in Utah, all driven by his mission to help dentists, their teams, and their patients achieve peace of mind. He co-founded eAssist in 2011 to give dental practice owners the ability to fully outsource their billing departments—a vision that now serves over 2,400 practices nationwide. Under his leadership, the company has formed strategic partnerships with the California Dental Association and Henry Schein, and earned a spot on the Inc. 5000 list for nine consecutive years. In 2020, Dr. Anderson was recognized as Entrepreneur of the Year by Business View Magazine and ranked among the top entrepreneurs in the country by Entrepreneur Magazine. He holds a B.S. in Finance from Brigham Young University, a D.M.D. from Oregon Health & Science University, and completed the three-year O.P.M. program at Harvard Business School. He also serves as Chairman of the Dental MBA Advisory Board at Roseman Dental School.