While it’s easy to see when your office décor needs to be updated and when your dental technology is becoming obsolete, it may not be readily apparent that your business model needs updating. Are you relying on a third party collection agency to go after delinquent accounts and fear that the agency is only going after the bigger accounts and charging a large commission fee? If yes, you are not alone. Until recently, collection agencies were one of the only options to collecting your money. Now, third party collection agencies are a thing of the past.
Third party collection agencies are often a last resort for dentists who need to follow up with delinquent accounts. They are expensive and care little about how patients are treated. Fortunately, there is a way to take control of this process. Dental providers have the option of turning to Henry Schein Financial Services’ MaxCollect Patient Collections, which has a range of benefits over an outdated collection agency. Every account, regardless of size, is pursued for collection. MaxCollect’s fees are low as well with the average cost falling between 10 and 15%. It is possible to gain control of your account receivables with a proactive, systematic business model that speeds up cash flow and reduces losses.
To learn more, read the article, Modernize Your Collection System for Maximum Profit.