Accounts Receivable is a Team Sport in Every Dental Practice

Summary

In this solo episode, Dayna discusses how accounts receivable and collections are a team sport in every dental practice. She highlights the negative impact of overdue balances and emphasizes the need to collect on the day of service. Dayna introduces a proactive approach to accounts receivable, involving the entire dental team. She suggests preparing the patient by providing treatment estimates and educating them about their out-of-pocket expenses. Dayna also emphasizes the importance of preparing the team by ensuring everyone is aware of patients who owe money. Lastly, she discusses the significance of asking for money on the day of service.

Takeaways:

• Accounts receivable is a team sport and requires a proactive approach
• Collecting on the day of service is crucial for practice profitability
• Preparing the patient by providing treatment estimates helps build relationships and improves collections
• Preparing the team and ensuring everyone knows which patients owe money is essential for successful collections.