Some business ideas are created out of a passion, a favorite hobby or a particular artistic or technical talent. Truly remarkable businesses emerge from the discovery of an “unmet need,” a market opportunity to get a priority job done in a way that results in business revenue and profit growth. Meet Dental Dynamic Solutions (DDS), the dedicated billing department for dental offices. It’s a win-win: The dental team can stay focused on excellent patient care and experience while DDS assumes full responsibility for collecting patient fees and insurance payments. Their commitment is clear to their dental clients:
“We’re focused on one thing, and one thing only: dealing with insurance and
patient billing, and making sure you receive the revenue you’ve earned.
Don’t think of us as your ‘outsourced billing vendor.’
Think of us as your revenue recovery partners.”
DDS is a dental practice billing and collection firm, founded in 2019 by Nina Bond. Nina, a licensed dental assistant, gained extensive experience both clinical and administrative before she launched DDS. She spent years interacting with patients and insurers and learned to use efficient, tried-and-true methods to speed the insurance administration process along. The ultimate win resulted in dentists getting paid faster and securing more of the revenue they earned. Working as an office manager for a start-up dental practice, Nina helped to increase revenues to $1.3M! What was Bond’s motivation? “I love to see a clean accounts receivable statement and have created systems to maximize dental practice collections.” They deserve to get ALL of the money owed for all of their services.
DDS outsources the administration and execution of billing and collections from dental practices. The benefits of this approach include 100% collections, patient and insurance company coordination, and HIPAA compliance (Health Insurance Portability and Accountability Act, industry-wide standards for health care information on electronic billing). The service allows the dental office to focus on their core competency and increases revenue through effective collection of billings from the insurance companies and the patients.
Path to Success
Nina has incorporated valuable feedback from her clients as her business has grown. She started with a few clients but very quickly was receiving referrals from her newest clients. By the time she had engaged five or six dental practices, she was receiving weekly inquiries and realized she needed to continually onboard new team members to keep up with the pace of adding new accounts. Nina feels proud that more dental offices were seeking help from DDS. This was a positive signal “that the new company’s branded systems work. That’s the ‘why’ for me!” Nina tells us.
Nina originally came to SCORE when she started DDS in January, 2019. She was seeking help with managing rapid growth, finding dental clients in Delaware and Chester Counties, and creating a value proposition. She worked with SCORE Mentors, Pete Shaw and Jane Katsnelson.
One of the early challenges that Pete and Jane were able to help with was the issue of when and how to hire and start personnel. They also reviewed the marketing brochure Nina was preparing. In follow up mentoring sessions, they worked on leadership and pricing. Like many entrepreneurs, Nina was struggling with delegation and how to manage a growing business. Pete and Jane provided ideas for how to direct and lead the new company.
A recurring theme in the mentoring sessions was the trade-off between hiring employees and using contractors as more staff was required to meet the needs of a growing client base. With the support of her Mentors, Nina was able to create a plan to help with these decisions as she grew the company.
Nina reflected on what SCORE has provided for her, “Pete and Jane have been phenomenal Mentors!” and gives them credit for the success that DDS has achieved thus far. “They provided practical and valuable advice throughout the scaling of my business. I believe SCORE had a significant impact on the growth of my business.”
When Nina first came to SCORE, DDS h ad four-digit revenue with four or five customers. Today, DDS has 28 clients in 11 states with six-digit revenue and the business is growing! DDS also offers a full suite of office and administrative services designed to help dentists support their office employees and grow their practices. In addition to dental insurance and patient billing, the DDS suite of services includes insurance verification, re-credentialing with insurance companies, and medical and dental cross coding. The DDS business is having an amazing first year with 50 dentists expected in the program in 2020. Defining that “unmet need” in dental practice revenue recovery is demonstrating the value that Dynamic Dental Solutions is committed to deliver to their clients. “Success is where preparation and opportunity meet!”
The company is headquartered in Delaware and has a plan to serve Delaware and Chester County dentists. Nina has developed a talented team of account managers, insurance verification and billing specialists. All DDS service providers are home-based including an employee in Chester County.
Paying it Forward
Nina is very proud of the growth of her business in such a short time and the opportunity to work with other professionals in her field. Nina shares advice for people considering starting a business:
“Keep pushing and looking forward!”
“At times, it may be difficult. I look toward SCORE Mentors to help me with leadership and operations topics. When things happen, and I am not sure of the best approach, they help me think things through and identify what avenues I can take.”
“Keep focused on your ‘why’ and what you are doing!”
“Stay positive even in difficult times and figure out how to turn a challenge into something better.”