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.
How to Convert Phone Calls Into Appointments
Using Links to Improve Search Rankings
Helping Search Engines Understand Your Site Better with Schema
The Dirty Truth About SEO Companies
What is Call Tracking? How Can it Help Your Business?
How to Effectively Market Your Drug Rehab Facility
How a Drug Rehab Center Can Use Content Marketing to Get More New Patients
How to Help Potential & Existing Patients Understand the Value of Your Practice
What You Should Know Before Naming Your Dental Practice
6 Landing Page Mistakes You Don’t Want to Make
How to Create an Effective Ad for Your Practice
Standing Out in a Crowded Market
Why Cheap SEO is Dangerous For Your Business
7 Qualities of Effective Websites
What You Need to do Before Investing in Online Marketing
4 Important Metrics for Doctors to Know
How Much Time Should You Spend on Social Media
5 Tips to Increasing Your Practice Revenue
Why a Thank You Page is Important
How to get started with Content Marketing
Join Podbean Ads Marketplace and connect with engaged listeners.
Advertise Today
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Right About Now with Ryan Alford
The Marketing Secrets Show
The Agile Brand™ with Greg Kihlstrom
B2B Agility™ with Greg Kihlström
eCommerce Fastlane: Shopify Experts Share Strategies for Acquisition, Conversion, Retention | Grow Your Shopify Store with DTC Marketing Tips