Learning the basic dental insurance terminology and the most important terms for daily dental office management - is paramount to understanding how dental practices generate revenue and how profit is calculated.
If you’re part of the administrative team in a dental practice, or maybe you’re the doctor getting in to practice ownership - this video is going to be super helpful for you in understanding important dental terminology such as Gross production, Net Production, Adjustments, Collections, Write-offs, In-network vs out of network, deductible, copays, etc.
This is NOT meant to be a comprehensive video on ALL the insurance terminology - although I'll cover a few that you'll need to know to understand how things fit together.
WHO AM I:
I'm Nilay, a Dentist and a software developer living in NY. I work part time in my dental practice, which I started from scratch in 2013. I've been writing inconsistently (www.dentalstartupacademy.com) of my journey in my startup practice since 2015. I've recently taken interest in creating videos because I love talking about all things dental business related.
In 2021, along with my brother (who's also a software developer), we launched our very own SaaS (Software as a Service)- Teamio!
Teamio makes it easy for Open Dental practices to manage the day to day tasks for teams(teamio.app).
Website: www.dentalstartupacademy.com
0:00 Introduction
0:45 Why You Need to understand Dental Terminology
1:25 In vs Out-of-Network
1:44 In-network Example
2:35 Out-of-Network
3:00 Out-of-Network Example
3:26 Gross Production
3:57 Net Production
4:20 Write-offs
4:36 Collections
4:54 Deductible
5:14 Calculating Patient Co-pay
6:00 Adjustments
7:06 Putting it all together - Example Appointment Schedule