Inflation is a hot topic these days. It seems prices are rising exponentially (though healthcare is one area that is minimally impacted). Still, with excess cash in short supply, it may be more difficult than ever to make good on your dental collections. But the economy may not be the only factor at play. If you struggle to collect payment from your patients, it’s time to take a close look at how your practice handles billing and insurance.
When you work with Dental Practice Enhancement, we can help you identify the strengths and weaknesses of your practice. Then we can provide training to improve your administrative processes. Or you could outsource your dental collections to us entirely!
To learn more about our services and to get started on the path to financial success, contact us today.
1. Your Expectations Aren’t Clearly Defined
What if your patients aren’t intentionally holding out? Maybe you haven’t made your terms of payment clear from the start. You may need to rewrite the information patients receive prior to treatment. Or you may need to overhaul your internal policies. Make sure to delineate each step your administrators need to take when collecting from patients.
2. You’re Not Collecting Payments Up Front
Verify insurance benefits prior to any dental procedure. Then ask for payment before the patient leaves the office. It’s tempting to send a follow-up email, but think about how easy it is for an email to get pushed to the bottom of an inbox, unread.
And remember, it’s always better to overestimate a patient’s responsibility than to underestimate. Not only will this save you the hassle of making collections calls. It’s much better for patient relationships when someone hears they have a refund coming than when they hear that they owe more money.
3. You’re Not Working Your Insurance Aging Report
Sometimes it’s not your patients who are holding out on payments but the insurance companies. That’s why it is essential to work your insurance aging report regularly.
For every unpaid claim over 30 days, your administrator needs to contact the insurance company, preferably talking to a live person. Then they need to fix any issues that may be delaying payment. In some cases, they may need to resubmit the claim entirely. Ideally, someone from your office should work the aging report once a week.
4. You Need Help from the Experts
Feeling out of your league when it comes to dental collections? You may need some additional support. Our financial training programs can set you up for success. Among other services, we can help you create a payment policy, establish reward systems, or link up with third-party financing companies, such as CareCredit®.
You could also use our remote assistance. Your office team may simply be overwhelmed by dental collections, especially if you don’t have someone on staff who deals exclusively with overdue accounts. When you work with us, you can reduce the pressure on your staff and improve the financial health of your practice.
Contact Us to Improve Your Dental Collections
To learn more about our services or to find out why your practice may be struggling financially, contact Dental Practice Enhancement.
Send us a message online or call (833) DPE – FOR – U.