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.
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.
Before offering services to patients, it is necessary to get an authorization form from the insurer showing the amount the company is willing to pay. This will help you provide the correct bills to the patients before they leave your premises. You can also motivate patients to pay cash, by offering discounts.
There should be a plan on how the payments would be cleared where the patient is not able to pay the amounts at once. The plan may attract interest or not. The payments may be cleared in monthly installments. However, the duration of payment should not be too long. The contract should be clearly written and the consequences of nonpayment well stipulated.
It is vital to remember that training your dental office employees is the best bet in managing collections. The personnel usually would get new information on billing methods. It is vital to outsource the service of collecting the finances from a licensed collecting agency preferably in the medical field. Though this would incur cost, it removes the burden of collecting bills from difficult and unwilling clients, thereby saving time and money in the end.
Dentistry is an exceptional field, unlike other areas of medical practice since it requires prompt action when a patient is in pain. It is very important to avoid creating an impression that you only value payment at the expense of the patients' welfare. This is why engaging a financial adviser is a good idea.
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.
Before offering services to patients, it is necessary to get an authorization form from the insurer showing the amount the company is willing to pay. This will help you provide the correct bills to the patients before they leave your premises. You can also motivate patients to pay cash, by offering discounts.
There should be a plan on how the payments would be cleared where the patient is not able to pay the amounts at once. The plan may attract interest or not. The payments may be cleared in monthly installments. However, the duration of payment should not be too long. The contract should be clearly written and the consequences of nonpayment well stipulated.
It is vital to remember that training your dental office employees is the best bet in managing collections. The personnel usually would get new information on billing methods. It is vital to outsource the service of collecting the finances from a licensed collecting agency preferably in the medical field. Though this would incur cost, it removes the burden of collecting bills from difficult and unwilling clients, thereby saving time and money in the end.
Dentistry is an exceptional field, unlike other areas of medical practice since it requires prompt action when a patient is in pain. It is very important to avoid creating an impression that you only value payment at the expense of the patients' welfare. This is why engaging a financial adviser is a good idea.
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