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 dental collections, 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.
For prompt payment, it is important to prepare the bills electronically prior to discharge of the patient, thus saving time. The billing statement should then be sent promptly to the patient. The clearance of the bill and collection procedures must be communicated to the patient clearly in writing. A duplicate of the form should be given to the patient while the original should be filed by the dental office. Include your telephone contacts or website address for any issues that might need any clarification.
The financial coordinator must be well versed on the gravity and professional conduct required for the delicate work. Part of the job entails telephone follow-ups. The details and financial status of the client should be well known. The date and conditions for payment should also be clearly spelt out. For reference, short notes are taken when conversing with the patient, who needs to be reminded of the consequences over failure to pay.
You should tell your patients to ask for an authorization form from the insurance company in advance in order to know how much the company will pay. This would help the dental office and the patients to finalize payments before they leave the office preventing delays. Patients may also be motivated to pay the bills by offering them cash discounts.
Provide an alternative plan in case the patient fails to clear the whole bill. This involves an agreement on the modalities of payment. It may or may not include interest. The patient may negotiate to pay in installments every month. However, ensure that the duration is not prolonged. The agreement should be clearly written with the rules on defaulting clearly spelt out.
It is important that you take steps to educate your office personnel in managing dental collections. 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 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.
For prompt payment, it is important to prepare the bills electronically prior to discharge of the patient, thus saving time. The billing statement should then be sent promptly to the patient. The clearance of the bill and collection procedures must be communicated to the patient clearly in writing. A duplicate of the form should be given to the patient while the original should be filed by the dental office. Include your telephone contacts or website address for any issues that might need any clarification.
The financial coordinator must be well versed on the gravity and professional conduct required for the delicate work. Part of the job entails telephone follow-ups. The details and financial status of the client should be well known. The date and conditions for payment should also be clearly spelt out. For reference, short notes are taken when conversing with the patient, who needs to be reminded of the consequences over failure to pay.
You should tell your patients to ask for an authorization form from the insurance company in advance in order to know how much the company will pay. This would help the dental office and the patients to finalize payments before they leave the office preventing delays. Patients may also be motivated to pay the bills by offering them cash discounts.
Provide an alternative plan in case the patient fails to clear the whole bill. This involves an agreement on the modalities of payment. It may or may not include interest. The patient may negotiate to pay in installments every month. However, ensure that the duration is not prolonged. The agreement should be clearly written with the rules on defaulting clearly spelt out.
It is important that you take steps to educate your office personnel in managing dental collections. 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.
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