Dental Accounts Receivable Reports
These dental financial reports hold valuable information. Some reports are generated daily. While others are a weekly event. And then there is the month end to consider.
Additionally, I write on reports. And I attach additional information as necessary. For example, to accounts receivable reports. And then I hand them off to my doc.
All Reports go to Doc
Our dentist is ultimately responsible for all that happens in their business. And to be in the know is important. Therefore, I provide the dentist with all the details I know they need. So that they are as aware as I am of what’s happening with their outstanding money.
Daily Reports
Help us to balance daily collections well.
Mid-day review and end of day are best. As the dentist, monitor patient payments. Because it helps to know who is paying. And who isn’t. And why. And it’s especially important to know this day by day. To avoid an unwanted surprise. Or an “awakening”.
It helps to have an idea of what was expected from each day’s patients. Based especially on the restorative schedule. Or perhaps periodontal treatment. A general knowledge of this going in is helpful.
Adjustment Journal
The adjustment journal is the second report to watch. Be familiar with adjustment codes. As well as credit and debit adjustments. And ask questions. Especially if something seems off. Sooner. Rather than later.
Write-Offs are Tricky
Dental insurance write-offs are tricky. So, be sure the team knows how to accurately do this. It’s one of the mistakes I see. And often a huge shocker to the dentist. Because the dentist believes in their team. And that’s all good. Once the team is trained well.
Weekly Reports
Consider weekly accounts receivable reports. Such as patient balances over 30, 60 and 90 days. Then, run an unpaid dental claims report. And review this at the over 30, 60, and 90 days as well. Weekly Management is the success tool here!
Know who is on this and why. The ultimate goal is to see nothing in the over 90-day category at all. And this is an achievable goal. Implement the right tools. And the best strategy. And it’s yours!
Monthly Reports
Let’s Look at Monthly Reports Now
- Collection Total
- Adjustment Total
- Patient Balances over 30, 60, 90 Days
- Unpaid Insurance Claims over 30, 60, 90 Days
- Credit Balance Report
When to Print
My preference is to print the credit balance report in week 3 of each month. Because this allows time for a refund to the patient. Or insurance if necessary. And to close the month clean.
