Increase Dental Practice Collections Systematically
Increase dental practice collections with some tangible steps. The steps I provide for you here are foundational. Begin with the steps as outlined. Then, follow through for the best results. Would you like 100% collections or more? It’s absolutely possible. Let’s get you there!
First things first! At the very minimum, purchase the Dental Collections Training Bundle here today! Because this bundle holds training and coaching materials your team needs. If your dental office collection rate is below 98%, you need help! And this is a great place to start.
Increase Dental Practice Collections With Tracking
Now, let’s move on! Because we always improve what we track, let’s track some numbers! I have an absolutely FREE download here for you to use. You may want to change up some things. Please do. Maybe you want to create an entirely new spreadsheet for yourself. That’s great too! This will give you a start anyway.
Just be sure to include credit balances as well. This is a very important number to watch monthly. And we definitely need to refund patients or insurance as necessary each week. But when we use a pre-payment option, we do see credit balances rise. So, we just want to monitor this report closely and routinely!
Increase Dental Practice Collections With Patient Statements
How often do you send patient statements? Wouldn’t it be fabulous if we never had to! If every service was paid in full prior to or at the time of treatment, we would have no need. But this isn’t the reality for most dental practices today. But we can improve our patient billing practices. Read through the Dental Accounts Receivable Made Simple E-Book as your first step. And then start daily patient billing.
This download walks the dental practice through patient accounts and billing practices. Consistent daily patient statements create consistent daily patient payments! It’s true! This practice also reduces the volume of patient calls and increases clarity and customer service. But you’ve got to read the e-book to get the whole picture. So, begin here. And make the necessary changes to start improving your daily, weekly, and monthly collections.
Weekly Management Systems Next!
Get your collections in order. Organize every account balance in a way that makes sense. Know which outstanding claims need to be followed up on first. And which overdue patient balances to handle. My Weekly Management Systems breaks it all down for you into smaller, bite size pieces. This takes away the overwhelm. And it also provides a path to follow through. There will no longer be any surprises hiding in the aging reports or lost money.
Create your very own weekly management outline. Pick a day each week to do the tasks outlined within the Weekly Management Systems workbook that is downloadable through the Dental Collections Training Bundle. It is always something you can adjust and change as you go. As you may find with new team members or practice growth that changes are in order. Make it work for you and your dental practice.
Increase Dental Practice Collections With Insurance Training
Next, view the Dental Insurance Training Video. It’s surprising how one missing piece or misunderstood piece of information can negatively impact the practice. Therefore, we want everyone on the dental office team to watch the dental insurance training video. This power point presentation talks about different types of insurance and terminology. We must speak the language of dental insurance to make the most of it.
Plus we want to help our patients utilize their benefits. Dental insurance is important to patients. And we can be their hero when we tell them we are here to help them get the most benefits they can! But in order to do this, we have to know what we are doing. Get the basics down quickly with the power point presentation inside the Collections Training Bundle and watch this video as your third step to complete to increase your dental practice collections!
Accurate Dental Benefit Calculations Are a Must!
Step 4 is the Calculating Dental Benefits Course within my Dental Collections Training Bundle. We need accurate benefit calculations or we create huge receivable problems. And we also decrease our patients’ trust. Which is even more painful than the numbers. Because we prevent our delay our patients’ abilities to schedule their needed dental treatment. Or worse, they go to a different dentist. And might even discourage others from visiting our dental practice.
Math skills is an area we assume everyone has. But it’s truly not the case. It’s a great idea to check in on our team members. Provide the training and support everyone needs without putting anyone on the spot. Does every team member know how to calculate percentages correctly? Are there calculators handy for everyone to use? Even in our treatment rooms? And is there a way for everyone to access fee schedules for PPO plans? I receive requests from administrators often asking for fee schedules. Make these fees accessible to your teams today!
Increase Dental Practice Collections with Collection Practices Course
Increase dental practice collections with this online course. Make sure your team knows how to verify insurance benefits for each patient. And because this is a huge task, consider some help. A professional company, such as Trojan, can supply some automated benefits for you. There may still be some phone calls to make. However, the workload is greatly reduced. Put the technology to use where you can. Save the manpower for those tasks that really require it!
Learn just how to manage those over 30, over 60 and even over 90 day unpaid claims. And better yet, let’s get those unpaid claims cleaned up. How about now over 90 day claims? It’s totally possible. Especially once you get the terminology and verification down. Then just use my Weekly Management Systems to keep your unpaid claims paid much more quickly and efficiently! So, what are you waiting for? Get all of these training tools today! They are all waiting for you with the purchase of my Dental Collections Training Bundle now.
I’m here for you! And this month of April, we’ll continue to talk about accounts receivable and dental office collections. There are several teams who have made the decision to take advantage of the one-on-one coaching available here. And we are able to talk about some scripts and management challenges. Please feel free to reach out if you would like some additional help, coaching, training, etc. A simple email gets you started!