Dental Office November Focus For Me
Dental Office November Focus Time! With November just a few days away, there is a special task on my mind. And that special task is my credit balance report. Yes, I do work this report each month. Yet there are always some people I have been unable to reach. And I have money that belongs to a patient. But I cannot find them.
What do we do?
Unclaimed Property for Dental Providers
Unclaimed property for dental providers is a valid credit balance that does not belong to the dental provider. Typically, this is money that is owed to the patient. However, the practice is unable to locate the patient. There is no response to phone messages. And mail returns to the practice when sent to the address on file.
Dental Office November Focus
Each state in the U.S. has their own laws and the length of time a credit balance can be held by the practice. It’s important to know these laws.
Even more important, is a regular review and refund policy within the dental practice. Because then you won’t even need to worry if you have reached the deadline for your state. It will be easier to locate your patient. And there will be very little unclaimed property in the practice.
Laws Vary State to State
How and when to return unclaimed patient refund checks varies from state to state. So, you definitely need to check your facts before you jump in and start sending checks to the state office.
There may also be certain amounts that you can hold in your specific state. If a smaller amount may be kept at the office, you might want to consider a temporary write-off until the patient resurfaces. But again, follow the laws in your specific state.