From requiring payment at the time of service to creating payment plans, dental offices can increase the number of payments they receive and reduce the number of patients that don’t pay on time. Below are four strategies to improve dental collections.
Kinum, Inc. has locations in Indianapolis, IN, Virginia Beach, VA, and Cleveland, OH, but provides debt collection services across the United States. If you are having difficulty collecting payments from dental patients, reach out to us today for professional assistance from a collection agency.
Learn how Kinum, Inc. serves dental practices here.
Four Tips for Improving Your Dental Collections
1. Create a Payment Policy
One way to improve dental collections is to create a payment policy for your patients. If they expect dental services from you, it’s fair for you to expect payment in return. These expectations must be clearly communicated with your patients so they can come prepared for their appointment.
A payment policy should include when payment is expected, what payment types are accepted, the financing options available, and late payment policies. Make sure your team knows the payment policy and has a habit of sharing it with new and existing clients before treatment and requiring your client to sign off on the policy.
2. Ask for Payment at Time of Service
Avoid chasing patients down for payments by setting the expectation that payment is due at the time of service. You may either collect payment at check-in or check-out. Make sure you clearly communicate this policy with your patient, so there is no confusion. You may also offer an incentive such as a discount if the dues are paid upfront as a reward for paying on time.
3. Offer Payment Options & Financing
It’s not that patients don’t want to pay for services, For those that cannot pay in full, you may choose to offer a payment plan to help ensure you get paid and make it easier for patients to pay with such an option. You can require partial payment before service and require the rest at the time of service or offer a monthly payment option. This could be done internally or through financing, such as with CareCredit.
You can also offer electronic billing so the client can log in to their account and pay their bill when it’s convenient for them. Keep in mind that too many payment options can be confusing, so offer a few that work best for your office and patients.
4. Follow Up
Train your team so everyone in the office, especially the ones behind the desk, knows how to follow up with clients that did not pay at the time of service. It requires knowing the options and being firm but respectful to the patients. It can also be time-consuming and intimidating for those who have not been in a collections role before. In that case, it may be best to hire a professional company to follow up and collect patients’ outstanding balances.
Contact Kinum, Inc. for Professional Debt Collection Services
Kinum, Inc. provides debt collection services for all industries, including dental. Let a professional debt collection company handle reaching out for payments after the due date has passed to ensure you get paid for your services. Contact Kinum, Inc. today!