5 financial mistakes new dentists should avoid

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Dentistry offers a rewarding career, one that comes with the satisfaction of helping others, along with the financial benefits. Even so, these five financial mistakes can derail your practice and your profits. Coasting on student loan payments: The median dental school debt for graduates in the class of 2018 was $280,410. But according to the Bureau of Labor Statistics, Read more…

Dental Accounts Receivable: How much will you get back from a collection agency?

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If you’re looking at using a collection partner to recover bad debts from your dental patients, you might be thinking about what success looks like. A 100-percent recovery is ideal. But as you’ve probably surmised, that’s a best-case scenario. When you’re screening collection agencies for dental accounts receivable, an important question to ask is how much Read more…

How can billing automation help with dental debt collection?

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Cash flow is the lifeblood of your dental practice. But the thing that holds back your cash flow (and inflates your accounts receivable days) may have to do with the speed of your processes. If the invoices are only going out to patients in a trickle of paper statements, expect the payments to come in Read more…

Priority Number One: The Patient Experience

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A bad collection experience can easily bruise the relationship between the patient and a healthcare or dental provider if the wrong approach is used by the provider’s collection agency. IC System approaches every call with the consumer experience in mind, with the full understanding that our patient financial representatives are calling on behalf of our clients. Read more…

Track down lost dental patients with simple skip-tracing techniques

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How do you track down a patient who owes money but has disappeared? The bill comes back in the mail, the phone number is disconnected, and the work contact they provided has never heard of them. When this happens, it’s disheartening to face the possibility that your dental practice may not get paid in full. The good Read more…

Upgrade your dental office payment options

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Here’s something you may not realize about Americans: We’re 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 Read more…

Dental offices: Reduce your accounts receivable

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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 Read more…

How dentists can build trust, even with patient debt

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When patients learn they need expensive cosmetic or restorative dental work, it can—if you’ll forgive the bad pun—leave 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 Read more…