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Posted 8/12/2016 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 32
Medical Debt Disputes on the Rise
Medical Debt Disputes on the Rise By Josh Shipman 8/9/16 There is no doubt that there has been a significant increase in the number of medical disputes. This increase seems to correlate with an increase in High Deductible Health Plans (HDHPs) where patients are now responsible for a greater...Read More
Posted 2/20/2016 by Jordon Comstock in How To Improve Cash Flow For Your Practice   |  Comments: 0  |   Views: 100
How To Improve Cash Flow - Ebook!
It’s a problem faced by virtually every dental practice. Cash flow can be one of the most challenging tasks to manage in your dental office. It is important to figure out what you need to do to improve your cash flow. If you have poorly cash flow and can't get a handle on it, it can destroy...Read More
Posted 2/17/2016 by Jordon Comstock in How To Improve Cash Flow For Your Practice   |  Comments: 0  |   Views: 133
How To Improve Cash Flow For Your Dental Practice
Cash flow can be a challenge when you are trying to run the clinical side and the business side of your practice. Even when you have a dedicated front office person that helps manage the cash flow of your office it can still be an overwhelming task that can take a lot of effort and focus. Having...Read More
Posted 1/8/2016 by IraBrenton in The FixMyLease Dental Blog   |  Comments: 0  |   Views: 103
Eight Ways to Ruin Your Dental Practice
Being A Dentist Is Tough You have a lot of staff, equipment, and expenses to worry about. There are insurances, leases, and about 900 other things that you need to try to keep track. But you do it! That’s what’s amazing. You manage to do it and do it well. There are some mistakes...Read More
Posted 11/18/2015 by JVanHorn in DentistMetrics   |  Comments: 0  |   Views: 169
Episode 19: How to Grow a Dental Practice to $5 Million a Year in Collections (And produce $15,000 a day)
How to Grow a Dental Practice to $5 Million a Year Content originally appeared at: http://dentistmetrics.com/how-to-grow-a-dental-practice-to-5-million-a-year-in-collections/ .Read More
Posted 11/3/2015 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 90
Fourth Quarter Practice Review: Why it is Important
Fall is a great time for medical and dental groups to review their cash-flow and revenue cycle process. It is a crucial time before the holiday season when you are short-staffed and patients begin prioritizing discretionary spending. Recently, an administrator contacted me concerning her...Read More
Posted 4/8/2015 by wmjankowski in CEODentist - Elevate Yourself!   |  Comments: 0  |   Views: 97
Creating Value: Becoming a True Provider Part 2
In my last post, , I talked about looking into your practice to see where value already exists. Now, I want you to go into your patient’s mind and consider how they might assess the price and associated value of a product, material, or service. Reframing The Value Question for Your...Read More
Posted 3/31/2015 by wmjankowski in CEODentist - Elevate Yourself!   |  Comments: 0  |   Views: 113
Creating Value: Becoming a True Provider Part 1
With a Starting Price of just $13,270, the 2015 Smart "ForTwo" is theCheapestpricedcar in America! So, why doesn't everyone drive one?Because it's not always about price... Your patients are consumers. Consumers look for ways to extract value from the world. You are a business owner. Your job is...Read More
Posted 2/26/2015 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 136
The Five P's of Internal Collections
I often ask practices if they know “how much future revenue their current A/R will cost”. After receiving puzzled looks, I explain what I’m asking is how much it cost to bill each patient and how many bills are required to recover what is owed? It is easy to determine what...Read More
Posted 11/19/2014 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 211
Standardize Your Collections Process and Reduce Stress
Yes, practices should use a standardized approach rather than emotions. Having a clearly defined financial policy and standardized process (including scripts) will give staff something to stand behind when dealing with "uncomfortable" but necessary business practices. It also helps to periodically...Read More
Posted 11/5/2014 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 1  |   Views: 260
The Key to Higher Net Collections
Comparison: Two Practices with the Same Flat Fee Automated Collections Service Background: Each office began service roughly at the same time with average balances within $3.60 of one another. Both specialize in general dentistry within the same demographic region. They are using the...Read More
Posted 9/29/2014 by Kevin Tighe in Cambridge Dental Consultants   |  Comments: 0  |   Views: 589
Past Due Dental Accounts: Letters and Patient Calls
The sequence of steps for past due accounts is as follows: 1. Statement 2. Patient Call 3. 2nd Statement with note or letter 4. Patient Call 5. Past Due Letter 6. Patient Call 7. Last Notice – Demand Payment Letter. If no response after last notice, send memo to the doctor for...Read More
Categories: collections
Posted 9/23/2014 by Kevin Tighe in Cambridge Dental Consultants   |  Comments: 0  |   Views: 231
Dental Office Financial Policy
Establishing a clear and firm financial policy for your dental office helps to see that your practice is paid without the type of misunderstandings that can cost you new patients and referrals. urges you to give acopy of your financial policy to each new patient at the initial appointment. It is...Read More
Categories: collections
Posted 9/11/2014 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 3  |   Views: 1435
Best Practices: Dental Collections
When internal efforts fail to resolve patient debt, it may be time to change your approach. The question is— which approach best meets your needs? Should you use an attorney or a collections agency; a percentage based or flat fee approach? What are the pros and cons to these alternatives?...Read More
Posted 8/20/2014 by Sandy Pardue in Sandy Pardue, Consultant/Classic Practice Resources   |  Comments: 1  |   Views: 5508
Consultant Tip: Use a "Rebilling Charge" to Motivate Slow Payers to Pay Faster
There is no question that adding a monthly rebilling charge to account balances will motivate patients to pay their bill faster. We all try to collect fees and co-pays but still manage to have patients owing money to the practice, especially since insurance companies don't always pay what is...Read More
Posted 8/11/2014 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 944
Receivables Don’t Equal Profits!!!
Do you have more than $2,499 in patient accounts aged between 60-89 days? Do you have over $5,000 setting on your books older than 90 days? The numbers don’t lie, and unfortunately having a lot of money on your books does not equal profits. In fact, the longer accounts age the less likely...Read More
Posted 8/11/2014 by Josh Shipman in Revenue Enhancement Solutions   |  Comments: 0  |   Views: 991
Five Things to Look For In a Collections Partner:
With receivables becoming more and more patient responsibility, many practices are looking for alternatives to their traditional billing and revenue cycle management process. One piece of the revenue cycle puzzle is final write off and collections, which can be a negative experience when improperly...Read More
Posted 6/2/2014 by Kevin Tighe in Cambridge Dental Consultants   |  Comments: 0  |   Views: 2494
Collections - Past Due Dental Accounts
The sequence of steps used to follow up on past due accounts are as follows: 1. Statement 2. Patient Call 3. 2nd Statement with note or letter 4. Patient Call 5. Past Due Letter 6. Patient Call 7. Last Notice – Demand Payment Letter (If no response after last notice, send memo to...Read More
Categories: collections
Posted 10/15/2013 by Sandy Pardue in Sandy Pardue, Consultant/Classic Practice Resources   |  Comments: 2  |   Views: 53028
Why Patients Don't Pay and How to Handle It
Why Patients Don't Pay and How to Handle It There are only two reasons why patients do not pay. 1. An Upset or a Misunderstanding An upset patient could be caused from anything such as something was not said, or something was said and forgotten and/or not documented. Example: "I didn't hear...Read More
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