Yes, phone is in the scrabble dictionary

...and is worth 11 points by itself.

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Phone Definition

noun

A speech sound considered without reference to its status as a phoneme or an allophone in a language.
from The American Heritage Dictionary of the English Language, 4th Edition
A telephone.
from The American Heritage Dictionary of the English Language, 4th Edition
A speech sound considered as a physical event without regard to its place in the sound system of a language.
from Free Scrabble Dictionary

verb-transitive

To get in touch with by telephone.
from The American Heritage Dictionary of the English Language, 4th Edition
To impart (information or news, for example) by telephone.
from The American Heritage Dictionary of the English Language, 4th Edition
To make a telephone call to (a specific number): Phone 411 for directory assistance.
from The American Heritage Dictionary of the English Language, 4th Edition

verb-intransitive

To telephone.
from The American Heritage Dictionary of the English Language, 4th Edition

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Top Words by points

Points

phone

10

2 letter words with PHONE

Points

en

2

po

4

pe

4

op

4

on

2

oh

5

oe

2

no

2

ne

2

eh

5

he

5

ho

5

3 letter words with PHONE

Points

poh

8

pho

8

pen

5

peh

8

eon

3

ope

5

one

3

hen

6

hep

8

noh

6

hoe

6

hon

6

hop

8

4 letter words with PHONE

Points

phon

9

pheo

9

pone

6

hone

7

peon

6

open

6

nope

6

hope

9

5 letter words with PHONE

Points

phone

10

Found 34 words in 0.12828 seconds