The insurance money is in your bank. Is it on your ledger?
A tool that matches every insurance deposit to the insurer's payment statement and to what is posted in your practice software. You see only the payments that do not line up, and why.
The insurer deposits the money, but the payment statement never gets posted. The claim still looks unpaid, so your unpaid-claims report is wrong and someone may call the insurer about a claim that was already paid.
Automatic posting only works when the date and fee match exactly. When they differ by a day or a few dollars, the claim is set aside and posted by hand, and hand work is where things get missed.
Some insurers pay by virtual card. On a $1,000 payment that costs about $20.10 in card fees, against about $0.34 by direct deposit. Few offices know what this adds up to over a year.
Your bank statement file, the insurers' electronic payment files, and your posted payments. No bank login is needed; every bank lets you download a statement file.
2
Everything is matched
Each deposit is matched to its payment statement, and each claim on that statement to what is posted in your software.
3
You fix a short list
You see only what does not match, each with the reason: not posted, posted to the wrong claim, amount differs, or card fee taken.
What you get
An unpaid-claims report you can trust, without claims that were already paid
Every insurance deposit accounted for at month end
What each insurer's way of paying costs you in fees, in dollars
A month-end report your bookkeeper can use as it is
A good fit if
Your unpaid-claims report is long and nobody fully trusts it
One or two people post all insurance payments and month end takes days
You use Open Dental, Dentrix or Eaglesoft
Probably not for you if
An outside billing service already reconciles your payments every month
You receive only a handful of insurance payments a month
Price
$4,300
One time, for the finished tool. About 60–110 hours of work at the same $50 an hour as the cost calculators on this site.
Set up for your practice software, your bank and your insurers
Tested on your last three months of real payments
A month-end report in the format your bookkeeper wants
Training for the person who posts payments
Questions
How do you reconcile EFT dental insurance payments?
Checking that every insurance payment that reached your bank is posted to the right claims in your practice software, and that the amounts agree. Most offices do it by hand at month end, if at all.
Does it change anything in my practice software?
No. It only reads. Posting payments stays with your team, now with a clear list of what to post.
Do you need access to my bank account?
No. You download a statement file from your bank, the same file your bookkeeper uses, and upload it.
Which practice software does it work with?
With Open Dental it connects directly, using the free read-only access Open Dental offers. With Dentrix and Eaglesoft it works from their standard report exports.
How long does it take to build?
Usually three to five weeks. Most of that time is testing it on your own payments until the numbers agree with your books.
Is patient information safe?
The tool only needs payment details, not clinical records. I agree how information is handled with every company involved before building.