Archive for December 2020
The most important number in your dental practice
In general, if you have 800 active patients that have visited your practice in the last year, you need to provide 3 doctor days and 4 hygiene days to meet the needs of your patients. You can accomplish this by being open only three days a week but have two hygienists working on one of the days (there are many options for making this work for your situation). If you have 1,200 active patients, you will need at least 4 doctor days and 5.5-6 hygiene days. Now, I ask you this question – are you providing enough doctor or hygiene days to meet the needs of your patients? If your answer is no, then you’re leaving additional revenue on the table.Read More
Why your Annual Revenue per patient matters
Your Annual Revenue per Patient is the total collections in the past year, or over the last 12 months, divided by the number of active patients you have. For example, $600,000 in collections / 1000 active patients = $600 per patient annually.Read More
Improving Reappointment Rates
One of the fastest ways to increase your reappointment rate is to start tracking it. I am sure you have seen it in your own life. What we pay attention to is what we affect.Read More
Safeguarding your dental practice from Long-term interruptions
dental practices should financially prepare for longer-term interruptions up to six months and not count on government assistance, which may not materialize in the future. If you don’t have that level of reserves, don’t panic. Start increasing the amount you are setting aside for a rainy day now. Wherever you are in your journey, take one step at a time, and one day soon, you will find yourself at your destination.Read More
The secret to managing dental patients who won’t pay
Always collect at the time of service (before they sit in the chair to start).
If the patient cannot pay at the time of treatment, make sure you have appropriate financial arrangements available within your practice. Payment plans through a third party are recommended.
The only outstanding accounts receivable is with insurance claims.