| The collection of past-due accounts is a part of virtually every dental practice and the contractions in the US economy since mid-2007 have made a proactive collection process essential for every practice. The eight to ten year recessionary cycles of the economy are not easy to predict but the reaction of patients to them is. Could the fees for your services be considered "discretionary" or a "luxury" by any of your patients? Historical data shows that average Dental Collections always decline as consumer confidence decreases, and food & energy inflation increases. Further, this decline is more pronounced in Orthodontic and other specialty practices. The industry-standard collection threshold is 95% for general dentistry and 90% for most orthodontic practices. However, if not properly managed, the proportion of overdue accounts can balloon so as to make it virtually impossible for the practice to be profitable — regardless of production. If these problems are not anticipated and proper control steps taken, the practice's uncollectable receivables will snowball such that the problem becomes extremely difficult to contain. There are well-proven collection processes, staff training and technology improvements any practice can implement to drive bad-debt write-offs to less than 2% of production. We deploy the process, tool and people improvements to enable you to avoid this slippery-slope of write-offs. Please see our Collections Brochure for details or contact us to discuss your situation. |
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