Category: Dental
Why dental practices rely on automation for their revenue cycle management
In the coming year, many dental practices have big changes planned. According to a survey of more than 2,000 healthcare providers, a vast majority will rely on automation for some areas of their revenue cycle management, a move that can speed up payment and increase cash flow. These upgrades, according to the Black Bookâs 2017
Upgrade your dental office payment options
Hereâs something you may not realize about Americans: Weâre still pretty attached to paper checks, and your dental practice is probably no exception, even if credit card payments are still accepted at the front desk. Still, it’s pretty clear the paper check is on its way out. In one decade, the trusty check has gone from the most
Dental offices: Reduce your accounts receivable
Obviously, no dentist would start drilling without consulting the patient. Yet, a patient caught unaware by a higher-than-expected bill can feel just as betrayed. In 2016, the average dental practice had $47,000 worth of accounts receivable at 90 days or greater, according to a study by Sikka Software. If these are patients that walked out the door
How dentists can build trust, even with patient debt
When patients learn they need expensive cosmetic or restorative dental work, it canâif you’ll forgive the bad punâleave a bad taste in their mouth, especially if costs reach hundreds or thousands of dollars. Then, when dentists take a hands-off approach to costs, leaving it all to the billing office, they might unintentionally come off as
3 surprising ways an ethical dental practice debt collector can help
For the dental practiceâs office manager, cash flow is the name of the game. That means a key part of your role is collecting payment from patients, and that takes a great deal of time and resources. In many ways, a dental practice debt collector is an office managerâs best friend, because it frees up time to
Dentists: Collection Plans Reduce Accounts Receivable
Just as it’s satisfying to remove dental plaque, it would be ideal to completely zero-out the account receivables column in your books. Since thatâs unrealistic, the next best thing is to prevent the account receivables from accumulating to the point that the practice finds itself in the midst of a cash shortage. One easy way to
Dentists: Prepare your patients now, avoid collections later
Remaking a billing system to boost same-day payments from patients can make sense for any dental practice. When patients walk out the door without making a payment or paying off their deductible or co-pay, the cost of collecting falls on your practice. On top of that, your patients come with a range of financial habits;
Dos and Donâts of Easy Financial Conversations
Revenue. In the end, it always comes down to revenueâeven in matters as important as oneâs oral health. Experienced dentists know this, and that leads dentists handling financial conversations with their patients delicately. Chances are good that youâve had a few tough conversations already, and you may have more in the future. To help ensure
Do you have the best dental billing schedule for collections?
A dental billing schedule deserves a universal commitment from all staff who interact with patients. When patient balances are allowed to age, the practice has less cash to work with to cover expenses. A disciplined dental billing schedule for account receivables will maintain consistency throughout the office and prevent unnecessary delays from eroding profits. Begin
Podcast: IC System featured on Dentist Money
IC System was just featured on Dentist Moneyâ˘, a podcast featured on DenistAdvisors.com. IC Systemâs own Bryan Campbell, our Business Development Manager for Inside Sales, recorded live with Dentist Moneyâs host Reese Harper at the Yankee Dental Congress 2017 tradeshow. Mr. Harper begins the dialogue with some common misconceptions about the collections industry, assuming that we
