After providing state-of-the-art service to your patients, a large portion of the financial compensation you deserve gets bogged down in accounts receivable. You end up spending time, money, and aggravating hours attempting to collect for your services, and sometimes to little or no avail.

Basic rules to lower overhead and increase happiness within your practice are simple. Charge for what you do and collect what you charge.

It’s easy to lose patients when they owe you money. In many cases that’s when they’ll complain - i.e. “it doesn’t look good,” “it doesn’t feel good,” “I could have gotten it done for less,” etc.

The solution is a strong financial policy with a clearly understood and accepted treatment plan managed and coordinated by a dedicated staff member.  Prior to beginning treatments, patients are made to understand and agree that payments will be made in full as each treatment is completed. A practice that is fee for service centered, rather than insurance dependent, greatly reduces, or eliminates entirely, the need to handle accounts receivable.

Managing accounts receivable does not mean handing accounts receivable.  Not having AR in the first place – that’s control and proper management of finances.

With your team motivated and focused on the same vision to attain certain goals, individual workday stress is reduced, and opportunities for personal prosperity and happiness are increased.Along with exponential growth of your practice are the bonuses of having more fun, freedom, and fulfillment in both your practice and personal life.