Whether in the field of dentistry or another healthcare service, getting paid on time can be a challenge. There could be multiple issues that hamper the timely receipt of pending dues.
In most cases, a lot of payment conflicts can be eliminated right away by letting customers know exactly how much they need to pay upfront.
A few suggestions on how a practice can improve the payment collection process for your dental business.
Appreciate the value offered by the practice
With every passing day and every encounter with patients, the dental team is presented with the chance to potentially make a significant impact on someone’s oral health or just enhance the smile on a patient’s face.
A robust oral health contributes to overall well-being, and individuals with strong oral health and overall physical health foster the development of thriving communities. It is essential that the entire team shares a common belief in this.
The team’s confidence in your ability to deliver superior quality care is paramount. Having full trust in the doctor and the team to deliver quality healthcare and create healthy smiles is paramount.
Incentives on early upfront payments
An effective customer incentive that can be considered is the provision of a discount for customers who opt to make full payments, along with an alternative option of receiving a slightly increased price for those who prefer to make multiple payments.
By providing a range of cost-effective alternatives, there is a higher probability that they will choose to remit the complete payment in advance or opt for a structured installment plan, thereby mitigating any potential conflicts related to payment.
This payment solution not only facilitates prompt and complete payment for the dental practice but also offers your customers the convenience of conveniently dividing a considerable invoice into smaller, more manageable installments. One can also offer the option to enable automatic billing for these payments via your designated payment gateway.
Offer Multiple Payment Options
To enhance the customer experience, it is vital to provide a wide range of payment options. There is a wide range of payment preferences among individuals, with an increasing number showing a preference for electronic transactions over traditional methods such as writing cheques or cash payments.
In order to maximize customer satisfaction and accommodate their diverse preferences, it is essential to prioritize the integration of payment methods.
By integrating this solution, the dental practice gains the ability to process online payments securely and efficiently, encompassing debit and credit cards, alongside various prominent digital payment mechanisms.
Furthermore, it presents you with the potential to incorporate an automated payment system for your patients, should you opt to leverage this alternative.
Be Transparent About Pricing
Presenting patients with the upfront costs associated with their dental work will go a long way in ensuring that your business is paid the full amount on time. Similar to other healthcare service sectors, customers generally do not welcome unforeseen expenses.
When patients are informed about an unexpected increase in their financial obligations, they may experience a sense of being inaccurately informed. This sense of frustration may result in a potential delay in payment or, at worst, a complete failure to make a payment. In such instances, numerous dental practices may engage the services of debt collection agencies in order to facilitate the retrieval of their outstanding payments. This process can be prolonged and exasperating for the staff and customers as well and will ultimately lead to discontent.
One effective strategy for preventing this situation altogether is for dental practitioners to provide a comprehensive breakdown of all expenses in advance, prioritizing clarity, and transparency. This approach ensures that patients are fully informed about the financial aspect and can avoid any unexpected surprises upon receiving the final invoice. Through the implementation of this measure, one would effectively mitigate the risk of potential disputes that may result in customer payment refusal.
Friendly & Persistent Follow-Up
Reducing your dental practice’s accounts receivable balance is critical. If the usually amicable staff exhibit mannerisms akin to that of aggressive debt collection agents, the payment collection process can steer off course and adversely impact patient retention. On the other hand, showcasing a bit of compassion towards patients and facilitating a streamlined payment procedure for outstanding balances can make for efficient collections.
Finding the optimal combination of compassion and perseverance can present a considerable obstacle. Several practices are concerned about preserving the integrity of the patient-practice relationship, leading them to adopt the practice of sending an additional billing statement when the outstanding period exceeds 60 days.
