Dental insurance aging reports provide important information to the dental practice, namely unpaid patient balances, and you may even find a few insurance claims within them!
These reports give your dental practice an idea of the total amount that’s owed, which makes it critical to understand what is currently owed and what charges are past due. Monitoring and tracking these reports should be done monthly at a minimum, if not weekly.
Why are dental insurance aging reports important?
Dental insurance aging reports are important for a variety of reasons including:
- Important scheduling information – Dental insurance aging reports do a great job of flagging any patients or accounts that have a past due balance of 30 days or more — this can guide your scheduling and prevent future treatments that may add to their unpaid balance.
- Catching glitches – Technology has its moments and though it’s accurate most of the time, sometimes errors occur where patient statements aren’t sent out. Dental aging reports have a “last statement date” that can help you identify any hiccups or glitches, so paying attention to this part of the report is important.
- Tracking valuable information – The numbers that the dental aging reports provide are vital — they’re able to track current and past due balances, giving you real-time information on each account to ensure that nothing is slipping through the cracks and past due accounts are not going up.
- Real-time tracking – It’s amazing what can change in a week, which is why running an aging report each week is extremely helpful. It provides real-time account information that you don’t want to miss!
- Creates transparency – The better you know the details of what’s owed to your practice and the accounts that are flagged, you can provide a better patient experience. Reach out to your patient for accounts that are 30 days past due and over, and make sure they’re getting the statements and that there are no miscommunications — sometimes all it takes is a phone call.