A guide to refining office systems to create greater accuracy and efficiency.
How would you like to decrease your workload while improving productivity? By reducing accounts receivable, updating your patient list and following a zone schedule, you can do just that!
AR Over Reduction
A healthy benchmark for total accounts receivable is equal to three to four weeks of monthly production. A goal for AR over 90 days is between 5% and 10%. Once money is owed for three months or more, the likelihood of payment is greatly reduced.
Did you know that when AR exceeds 90 days, the worth of every dollar becomes twenty-eight cents? Would you trade a dollar for a quarter?
In an attempt to “clean up” accounts aged beyond 90 days, some dental practices have resorted to using collection companies. On average these companies retain 33% – 50% of the monies they are able to collect. We’d encourage you to use different tools for this task. Effective financial strategies and improved scripting for your front office members can help tidy up your AR quickly.
Refreshing the Patient List
An accurate active patient list impacts many critical aspects of the practice — the number of hygiene days necessary to accommodate patients, the marketing plan for the practice, and ultimately, the value of the practice. While some patients may notify the office when they have left, most do not. This leads to “practice clutter” and negatively impacts overhead by inflating the number of hygiene days needed and wasting the valuable time and energy of front office staff.
We often find schedules can be tidied up and made more efficient. Having scheduling fundamentals in place can have a powerful impact on your practice — your patient experience, your productivity, and team morale all improve. Zone scheduling is a strategic method to balance patient flow and production to provide consistently paced days. Pre-block your schedule with productive procedures to meet your goal.
Many practices got away from this in recent years, however, with case acceptance improving it’s time to return to this best practice. Pre-block enough time for your rock procedures, which include all the procedures such as crowns for dentists and perio for hygienists that are core to making your goal.
Burkhart’s Practice Support Team is here to support you in cleaning up and enhancing systems in your practice. For more information about verbal scripting to reduce AR over 90, strategies to clean up your patient lists, or suggested scheduling templates, please give us a call.
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