Managing a debt can be a scary task—mainly in dentistry. While it’s true that debt can be unavoidable, there are certainly ways to decrease its chances or even prevent it altogether. When sending notices only goes so far, try these tips to collect debt in dentistry.
Do most basic things
- Make any financial arrangements before providing dental treatment.
- Regularly inform patients of your financial policy and fees before providing any dental treatment.
- Always follow through with your word—whether it’s collecting a past-due balance or following up on an insurance claim. It’s important to make sure each patient feels secure and taken care of, as well as respected. With the proper information, they can make the right decisions about the proper treatment and payment options.
Write treatment plan
Trace a treatment plan for your patients in writing. Make sure it’s easy to read, clear and concise. Try to avoid complicated dental jargon and terminology. Develop a treatment plan that goes over the entire process. Put a disclaimer statement at the bottom of your treatment plan that makes room for any unexpected changes in treatment.
Explain fee structure
Don’t forget the most important thing: to have your patients sign all consent forms. Include any lending agreements and explain all fees and payment options. Keep in mind that changing how—and when—you accept payment from your patients is one of the most challenging aspects in dental practice.
Collecting past due payments in dentistry
When chasing past-due balances, remember to be consistent. A good tip is to send three notices before taking collective action. First, send the current invoice. Then, send a kind reminder after 30 days. After this point, calling the patient to collect the debt is acceptable.
Set up an online payment portal
People prefer to pay their bills online these days through their desktop computers and mobile devices. By creating an online payment portal that will process cards, wallets, payments, dentists are giving patients the option to pay 24-7 at their leisure.
Patients can also store their information so that payments are automatically taken out at a certain time every month. That leaves little room for human error and will guarantee that dental debt collection occurs.
3rd party collections
Not all patients are willing to sign up for payment portals or use phone support. Rather, they will just let their bills go unpaid. The only way to convince them to make payments is to use 3rd party, and good dental debt collection Firm. When they are sent letters or contacted by third parties, and they know their options for payments, they will be more likely to keep their bills up to date.
One of the more disliked tasks in any practice is dental debt collection. At a time when dentists and their teams are trying so hard to reach patients and build strong, long-term relationships with them, it can be painful when those patients fail to pay on time for the professional services they’ve received. Your production total may be up, but if you don’t collect, you’ve wasted your time and effort. Find more info at frontline collections