Advice for the Financial Coordinator – Review the accounts receivable process. To determine the effectiveness of your collections process, answer the following questions:

• Does your practice have a documented patient financial management system that is consistently followed?
• Have you been trained on all financial options and collection systems?
• Do you set time aside each week to work on collecting overdue accounts?

If you answered “no” to any of these questions, then there are opportunities to improve how your practice handles accounts receivable.

Need additional financial training? Sharpen your financial management skills with Dr. Levin’s how-to book, Practice Finance. To learn more, go here and click the “Read an Excerpt” button.