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Summary
 
In this episode of Hey Docs!, Jill Allen and Megan Wyrick discuss the evolution of insurance consulting in orthodontics, emphasizing the importance of understanding insurance networks, common misconceptions in billing practices, and the necessity of verification. They explore the consequences of poor billing practices on cash flow and patient trust, the role of technology in managing insurance claims, and the importance of team accountability in financial management. The discussion also highlights how insurance can impact treatment plans and offers practical advice for practitioners.


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Takeaways

• Megan and her sister Brittany started in orthodontics at a young age.
• They created an insurance course to help practices navigate insurance billing.
• The business has expanded to offer multiple courses for various office roles.
• Practices should be selective about which insurance networks to join.
• Lifetime maximums can be misunderstood; verification is crucial.
• Timely filing limits are tightening, impacting cash flow.
• Insurance companies often request additional information, which has its own deadlines.
• Technology can aid in claims submission, but traditional methods may still be necessary.
• Team accountability in insurance management is essential for practice health.
• Younger doctors are more hands-on with financial management than previous generations.

Chapters
 
00:00 Introduction
03:35 When to Outsource Insurance Billing
06:18 Pros and Cons of Being In-Network
11:07 Lifetime Maximums 101 + The Two-Step Verification Rule
13:29 Avoiding Costly Benefit Quote Errors
16:51 Timely Filing, Cash Flow, and Patient Trust
23:37 Responding Fast to Info Requests & Denials
24:31 Digital Portals vs Snail Mail
26:43 Protecting Doctor Authority
28:42 In-Network vs Out-of-Network Example
31:14 Team Accountability in Billing
34:40 Know Your Numbers
38:12 Contact Info 

Episode Credits:
 
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice?

Reach out to me- www.practiceresults.com.
   
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