The 10 Minute Healthcare Marketing Podcast
Business:Marketing
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.
Harnessing the Power of Online Reviews for Dental Practice Growth
Mastering Dental Marketing with Google Ads and Keyword Strategies
Elevating Your Dental Practice with Effective Reputation Management
Enhancing Dental Clinic Conversions with Google Ads and Landing Pages
How a Dentist Can Get Started With Local Service Ads
Should You Hire a Professional to Run Your Google Ads?
AI Vs the Marketer
Google Business Profile for Dentists- What Changing Google My Business Means for Your Practice
Is it Time to Hire a Dental Associate?
Dental CPA: Why Hire a Dental Accountant for Your Practice?
Choosing the Best Dental Bookkeeping Firm For Your Practice
Convert More Google Ads With Improved Landing Page Design
Dental Practice Financing Tips & Advice
Best Practices for Naming Your Dental Office
The Key to Relocating a Dental Practice
Decorating Your Dental Office To Fit Client Needs
A Guide to Choosing the Perfect Dentist Office Music
20 of the Most Effective Ways to Increase Productivity in a Dental Office
5 Reasons Why You Need to Offer Perks In Your Dental Office
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