Collections continue to be a problem for many dental practices.
Too many front desk team members don’t feel comfortable asking for payment from patients. That reticence can cost your practice thousands of dollars every year.
Here are three things you can do to improve collections:
1. Collect at the Time of Service
Make that your standard policy. Your practice should function like other retail businesses, which all collect at the time of purchase. By doing so, you will receive a higher percentage of your fees sooner and reduce the potential for overdue receivables.
2. Train Your Front Desk Team to Ask for Payment
Your practice is a business, and collecting fees in a timely manner is part of running a financially successful business. Fixing your collections system can yield an immediate and profound boost to your bottom line. Train your team using scripting, which will enable them to be comfortable at asking patients for payment.
3. Make Collections Easier by Offering Patient Financing
With dental insurance covering less, patients today have more out-of-pocket costs than ever before. Giving patients the option of financing through a reputable third-party provider can make treatment––elective services and larger cases––more affordable. You also eliminate any potential collections issues by receiving your fee upfront (minus a small financing charge).
Download Dr. Levin’s free whitepaper “The 9 Areas of Expertise: Collections” by clicking here.
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