Dental Insurance Terminology - Most important terms you need to know for Daily office management

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 (https://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(https://teamio.app). Website: https://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