How to Increase Profitability with your A/R

Staying on top of A/R to help increase profitability

You’re in business to make money, right? And you’ve determined you’re not a loan officer nor a bank, right?!

Since you’ve answered YES to both of these questions (and even if you didn’t) we’re here to simplify your collection processes to make sure you’re collecting what is owed to you!

With these simple solutions, you will see your aging accounts decrease, and your bank balances increase!

• First and foremost, collect those dollars up front
  • Give clear and as concise as possible treatment plan estimates to patients
  • Pre-collect for appointments if possible
  • Collect patient portion regardless of insurance estimates, at time of service
• Send clean claims!
  • Make sure to submit all attachments necessary
  • Codes, teeth #s, quads, etc. are correct
  • Narratives sent with crown prep, SRP, extractions, bone grafting, implants, etc, ALWAYS
  • Ensure payor IDs are set up correctly
• Create a follow-up system for both patient and insurance aging
  • Once you have received insurance payments and a patient still has a balance, call right away to collect! Send a statement if you’re only able to leave a message.
  • Have a 30/60/90 day system in place to review and follow up on aging insurance claims – don’t just wait for that payment!
  • Implement a collections system for patient aging:
    • Click to pay on your website
    • Opt-in for digital statements via text

Protip: Have your Office Manager report to you your A/R balances at the beginning of every month to track and watch those numbers shrink!

If you are looking for more tips and tricks, make sure to listen to our podcast.

As always, we are here for you! If you have questions or need some guidance, please reach out to us at [email protected]