How To Improve Dental Collections
by Jody Leach
It is not always easy to make patients and their insurance companies pay dental bills on time. In fact, many dental practices struggle to ensure that there is a balance between monetary collections and professional obligations to their clients. However, the following tips would guarantee excellent <A href="http://www.patientfocused.org">dental collections</A>, and maintain the highest standards of professional conduct.
A strong internal credit policy for your dental practice should be set. This can be created by coming into a consensus with all members of the team. It is important to have the policy in writing. This can help boost understanding and implementation. The key objectives of such a policy should be to enhance the collection process and make payment more efficient. If you have a financial coordinator, he must be familiar with the credit policy you have set.
The preparations for the bills need to be fully automated for timely payments by the patients before they are allowed to leave the facility. This will allow the bills should then be delivered on time. The mode of payment and collection procedure of the monies should be plainly communicated in writing to the patient with a copy of the credit form, while the dentist retains the original. A telephone contact or online address should be given for clarification on unclear issues.
The person to make a follow up on the pending bills must understand the gravity and level of professionalism needed for the delicate task. The task involves telephone follow-ups and its good to take notes as you speak to the patient on the phone. The history and accounts of the patient must be very clear. Ensure the bill is given to the right person for payment. It is important to agree on a specific date and terms of payment. It is important to remind the patient of the consequences of defaulting on the payment.
An authorization request should be sent on time to the insurance company to allow the task to be accomplished on time. This should indicate the amount to be paid by the insurance company. This will assist the patient and dental office to organize and clear the bill before the patient is discharged without any delay. The patient may be motivated to clear the bill in advance by offering a cash discount.
Special payment arrangements should be put in place if the patient is unable to pay the whole amount at once. With such arrangements, you can choose to charge interest for this or not. The payment plan might involve equal monthly deduction, but the overall length of payment should not be prolonged. The contract should be written clearly with the penalties of nonpayment well defined.
It is important that you take steps to educate your office personnel in managing <A href="http://www.patientfocused.org">dental collections</A>. The employees should have sufficient information of regarding the collection methods. If you do not have internal capacity, you should involve professionals in collecting the payments. Preferably, you should hire a reputable collecting agency with experience in the field. Although it has cost implications, it relieves the responsibility of dealing with bill defaulters thus saving time.
It is important to keep in mind that dentistry, unlike some medical fields, demands prompt attention to the patient. Therefore, it calls for caution to avoid sending a signal to the patients that implies you only need their money. This is why there is need to employ a financial coordinator to deal with finances.
<a href="http://www.patientfocused.org">Read more about</a> How To Improve Dental Collections.
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New Unique Article!
Title: How To Improve Dental Collections
Author: Jody Leach
Email: nathanwebster335@live.com
Keywords: credit, finance, business, economics, economy, sales, marketing
Word Count: 585
Category: Credit
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