One of the most difficult parts of running a dental practice is processing collections. For those unpleasant situations there are a few steps that can ease the process or avoid it completely. Having the right plan is a crucial part of getting the results you want and with a simple “rule of three” many outstanding accounts can be addressed in a civil manner.
Step One: The Call
Calling a delinquent payer can be a very frustrating process. For these calls, focus on conducting one call per week for three weeks. This is a suitable number of times to reach out to the client before seeming aggressive. For best results, calling a cell phone over a landline is advised.
Step Two: Emails
When creating an email for delinquent payers, tone is everything. After all, the person could have a disconnected phone. The email should be formal, but not stern. Avoid the sound of agitation. Send these emails once a week for three weeks. After that, escalate to step three.
Step Three: Formal Letter
When sending out the last chance letters, be sure to write formally and emphasize the repercussions of not paying the past due amount. Each letter should be written with wording that differs from its predecessor and should increase in the level of urgency. Most accounts will reconcile before the three phases are fully through.
By striving for completion, financial coordinators can reconcile large amounts of debt with little action. It is important to have an established plan of attack. If your practice does not already have one, then create it as soon as possible. The sooner you act, the better.
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Note: This content is accurate as of the date published above and is subject to change. Please seek professional advice before acting on any matter contained in this article.
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