Apr 04, 2018
12:00 pm MDT
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Managing our accounts receivable is an on-going task that is a necessary part of running a small business. Yes, your dental practice is a small business and it is important to have systems in place so the owner of the practice is informed and kept up to date on the status of the money on the books. So many times the doctors are oblivious to the fact that they have 30 – 40% of their accounts receivable over 90 days past due. Then when they ask about the specific accounts, often times the answer is “oh, they are on a payment plan”.
Payment agreements in the dental office can be a way to help patients afford much needed dental care or help a patient during a tough economic time. However, you need to manage the payment plan in a strict and systematic way. Keeping all those details in your head is not the way. Let’s get the payment arrangements into the computer so your entire team is informed, you can manage it better and nothing falls through the cracks.
Today we will tackle . . .
- When to create a Payment Agreement
- What is the difference between a Payment Agreement and a Future Due Payment Plan
- What is the best way to manage these payment plans
- Q & A
Approved for 1 CE credit AGD PACE