Many dental patients do not have dental insurance, so dental practices often offer payment plans. However, this can result in past-due invoices, which can cause issues with cash flow. Dental practices lose an average of 9% of their revenue to uncollected bills, and overdue accounts receivable can impact the valuation of a practice. To reduce overdue accounts receivable, dental practices should perform proper insurance verification, provide out-of-pocket cost estimates, put financial guidelines in writing, create an in-house dental membership plan, make sure patients understand their financial responsibilities before treatment and offer incentives for up-front payment.
This post provides tips for dental practices to increase their collection rate for past-due invoices. Suggestions include engaging in friendly and persistent follow-up communication, training and involving the team in the collection effort, offering flexible payment options, sending billing reminders on patients' preferred channels, offering electronic billing, and setting up shorter billing cycles. The article also discusses the option of using a dental office collection agency as a last resort.
The podcast discusses the pros and cons of using a dental collection agency to collect past-due invoices. While it can provide relief, there are also drawbacks such as high expenses and distressing patients. It suggests considering a collection agency as a last resort. It provides questions to ask when choosing an agency, such as their recovery rate and whether they specialize in the dental field. It also emphasizes the importance of reducing accounts receivable to improve cash flow and offers assistance through Titan Web Agency's services.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.