Summertime living should be easy, but the stress of billing and collections is no breeze. If you want to keep your cool when it comes to the financial side of your dental practice, it’s critical to have a patient financial policy in place.
Establishing and maintaining a transparent patient financing policy is the focus of CDA’s third-quarter Practice Health Check. Not having a financial policy in place can cause patient distrust, staff dissatisfaction due to working with upset patients as well as inconsistent practice collections. And when it comes to the cost of accounts receivable, you risk writing off larger portions of past-due balances the more time passes.
CDA members are invited to take the Q3 Practice Health Check consisting of just three questions:
- Have you reviewed your patient financial policy to verify that it is still current and that your staff is aligned with your expectations?
- Are you familiar with current laws and regulations regarding collection practices and the use of collection agencies?
- Are you conducting daily chart audits to monitor accounts receivable and maintain collections?
For guidance on how to ensure your practice’s financial policy is up to date, understanding current laws on collection and the importance of daily chart audits, start the Practice Health Check now and follow the links to additional CDA resources to help you comply.
Have questions about other practice challenges? CDA members have access to our online Resource Library, a robust collection of downloadable articles, guides, templates, checklists and forms designed for dental practice owners.
Members can view all Practice Health Checks online.