Aldridge & Associates, LLC


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Collect Now, Not Later

One of the biggest challenges facing today’s dentist is collecting money for services rendered. This process should be simple. The dentist performs dental treatment for a fair and reasonable fee, and the patient pays. Just like at the grocery store, right? Wrong!

Unfortunately, in too many instances, the patient is dismissed without ever paying for their dental treatment. Instead, dental claims are filed with insurance companies (93 percent of dentist are “in-network” in some form of dental plan), and monthly statements are mailed to the patient at an average cost to the business of $5–$7 (labor, statement and personnel cost) per statement, per month. The results? The dentist and business have to wait on their money, ultimately resulting in diminished cash flow, “outstanding” receivables and poor accounts-receivable ratios. During the interim, employees, vendors, landlords and other debt service is paid out of the owner’s pocket. In other words, the owner has to bankroll the business and provide the funds while waiting on their money. This is no way to do business. In fact, the “we will bill you” mentality is a recipe for disaster. While the goal should be to collect all monies at the time of service, your office should collect at least 35-50% of your daily production to maintain good cash flow. Do you know your businesses daily collection percentage? If not ask TODAY.

Mastering your communication and collection skills are critical in developing a highly spirited and educated dental team and are a key factor in helping any dental clinician & businessmen reach their ultimate potential.  Commit today, to begin learning how to work on your business (non-clinical) instead of in your business. You deserve the best and maintaining excellent cash flow is critical to preserving The Dentist’s Edge.

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