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Bobby Haney, DDS
Improve Collections to Improve Your Bottom Line – 10 Things You Need to Do NOW!
You and your team work hard to produce dentistry to support your families. You need to work just as hard to collect the fees you charge for your hard work! Here are ten things you should be doing in your office to maximize your collections.
1. ASK for payment at the time of service and ASK for any previous balance along with today’s payment. (Sounds too simple but doctors, you would be surprised how often this does NOT get done.)
2. Be CONFIDENT and COURTEOUS – discuss payment and finances matter-of-factly. Patients EXPECT to pay for their services.
3. Be clear on the amount due. Always say “estimated” but never “about.”
4. The answer to the question, “Can I make monthly payments?” is “ABSOLUTELY!” Then introduce your third party financing.
5. Use the phrase, “We offer flexible financial options. Cash, check, credit card (display logos in office) and (your third party financing).
6. Use a “truth-in-lending” statement. This can be downloaded from the internet. If a patient pays a different amount than is on the agreement, the agreement becomes null and void.
7. Insurance claims should be electronically filed with ALL possible needed attachments and OBNOXIOUS detail.
8. Document what is said when you are talking to insurance companies. ASK the representative to be recorded.
9. Statements need to be sent DAILY if at all possible. They can be generated as soon as payment is posted.
10. Some people “listen” with their eyes. Show them the balance and circle it. This also allows you to remain private in the presence of others.
Bonus Tip - Do not ask “yes or no” questions such as, “Would you like to pay that balance today?” Instead, ask, “How would you like to handle that” and then give the options.
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