Dental Practice Management: Take Control of Your Financials Contd

Once you’ve identified your collection problems, you’ll want to put your staff to work.  In your next morning huddle, use a highlighter to identify large outstanding patient and insurance balances.  Then direct your front desk to call these patients and insurance companies.  Your staff may need to resubmit claims, and even send patients to collections.

 

A dental practice works best with the right practice management tools

Use an Effective Appointment Reminder and Recall System

A good patient reminder and recall system is the lifeblood of most successful practices.  Fortunately, just like your patient collection needs, your computer software system should provide an effective system to help your staff ensure high patient appointment compliance.

 

Recall Appointments

I find that the best time to create the next recall appointments for patients is while they are still in the office.  Be sure your staff does everything they can to make your patients’ next check-up appointments before the patients leave.   Sure, patients might forget the exact day of an appointment six months out, but the mere fact that they have made an appointment will serve to commit them to coming back.  Your software should provide an easy way to print recall appointment cards and lists so that, well before the scheduled recall appointment, you can remind patients of their recall appointments.

 

Appointment Reminders

There is nothing quite like experiencing a no show on a three-unit bridge appointment.  We’ve all had them, and, to some degree, it goes with the territory, but there are new tools available that will help minimize missed appointments.  To be sure, your front desk staff should make personal confirmation calls to all large cases; however, this type of personal follow-up drains a staff’s time and may be overkill for smaller cases, especially for offices running a lean staff.  Some software systems now offer the ability to e-mail customized appointment reminders directly from the appointment book screen.  If your system doesn’t have this capability, you may want to look into a third-party add-on service that can send e-mail and/or text message reminders to patients.  Don’t overlook your appointment reminder system because anything you can do to help your patients keep their appointments will have a direct impact on your bottom line.

DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

Dental Practice Management: Take Control of Your Financials

Part of running a dental practice involves keeping track of finances, particularly where your practice is concerned.

As I read the morning paper, my eyes were drawn to the headline “NO ANSWER FOR STOCK FREEFALL!”  The article went on to report that the Dow Jones Industrial had plunged below 7,000 to a level not seen since 1997.  Clearly, from Wall Street to Main Street, we are in troubling times; and, unfortunately, our corner of the healthcare market is not immune to the effects of this economy.  From patients reluctant to accept treatment plans to recently-laid-off patients not keeping their appointments, we are being affected.  So, what is the economic situation of your practice?  And, more importantly, what are you doing about it?

Run your Dental Practice with Financial Good Sense

Take Control

Yes, as the owner of a dental practice, there are many things that you control and should do to enhance your practice’s financial performance, even during an economic meltdown.  Understanding what these things are and implementing them in your practice will determine how well you weather this economic storm.

To increase your practice’s financial performance, you’ll want to address three financial questions:

1. Are my collections where they need to be?
2. Am I effectively minimizing missed appointments?, and
3. Do I set and track my financial goals?

Maximize your Collections

A number of years ago, one of my colleagues became increasingly frustrated with his practice’s financial performance.  He complained that no matter how many additional crowns he cut or veneers he cemented, his cash flow remained stagnant.  Curiously, his increased efforts didn’t seem to have any effect on his practice’s overall financial performance.  So he did what many of us have done – he opened his practice to a consultant.  After just a few hours, the consultant found a glaring problem – his collections were at a pathetic 79%.

When times get tough, undercollecting or simply not collecting your hard-earned money is a mistake you cannot afford to make.  Most likely, you have paid thousands of dollars for computer software that was specifically designed to help you monitor your collections.  Software like Dentrix, DentiMax, EagleSoft, and SoftDent include great collection features.  If you have not been using your software’s financial tools, now is the time to start.  Familiarize yourself with your patient aging report and insurance aging reports.  With the proper aging reports, it won’t take a consultant to identify problems with your practice’s collections.

To read more on this topic, please click here.

DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

Patient Scheduling: It Can Make or Break Your Practice (Contd)

Patient scheduling software is more than just a calendar.  It should also have ways to track certain key measurements.

Graphs and Patient Scheduling Software

Call Today for Information on our Dental Practice Software | (800) 704-8494

Another essential component you need to create the ideal schedule is simple, easy-to-read graphs.  These graphs need to show whether the daily scheduling goal has been achieved and offer the ability to schedule goals for an entire calendar month – one that fits your financial needs.  Unfortunately, too many practice management software systems only offer “advanced” tools for tracking various items and lose sight of the reality of a busy dental office’s need to track daily financial progress.  Simply put, most systems are just way too complicated.  Fortunately, there are systems available that offer simple graphs to help a staff make the right scheduling decisions.  The system I have recommended to practices that just seems to have the right scheduling tools is DentiMax.

In dealing with today’s financial challenges, you may find that you have personally taken more of the burden of ensuring your patients are properly scheduled than you should.  There is a better way.  Create the expectation that your front desk staff will properly schedule every patient, and then provide the tools needed to do it.  With the right software and a little bit of guidance, “scheduling by production” can give your practice the financial results that you’ve been looking for.

Where Dental Software Comes Into Play

The right software can really make the difference, and be the tie in to keep all of your systems as well as the people who operating working together both efficiently and productively.

So remember, if you have a dental practice, make sure that you have the tools to succeed.  Have good people working for you who know what they're doing.  And make sure you have the right dental software for your practice.

DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

Patient Scheduling: It Can Make or Break Your Practice

How important is patient scheduling?  In a word, vital.

Patient Scheduling: It Can Make or Break Your Practice

By Shelly Mendoza

Today, many dentists face financial challenges that have been generally absent in dentistry.  Your staff’s ability to schedule productive days that increase overall collections is more important than ever.  There is a concept many doctors have not heard of called “scheduling by production.”  This is where your staff members use the features of your software’s appointment book to optimize what you produce and collect each day – and can give your practice immediate financial results.

Patient Scheduling Software: The Foundation of Your Practice

A practice’s financial success all starts with the schedule.

A practice’s financial success all starts with the schedule.  Your staff can maximize your schedule by doing the following:  schedule patients by type of procedure, create simple graphs where they can visually measure your scheduled and actual dollars, and create goals to see how close they are to making your numbers.  These software tools provide an easy guide for your front desk to help them schedule an ideal day that increases your production and collection.  And, maybe more importantly, this will help prevent the crazy overscheduled day that is followed by a day so unproductive that it doesn’t even cover the cost to pay your staff!

Running a productive day, every day, without complication, should be second nature to your staff.  This can be achieved by following these simple “schedule by production” steps:  First, determine how much money it really takes to cover the cost of your staff, pay your bills, and pay yourself.  Second, based on your patient treatment plans, determine how many high production and other procedures should be scheduled each day.  And last, make sure your staff utilizes your software’s appointment template feature to set a schedule that allows them to “drop in” the appropriate appointments and tally up your goal as they schedule and collect.  Following these steps will essentially take the guess work out of scheduling your day.

To read more about this topic, please click here

DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

Digital Sensors and Marriage Part 2

Call Today for Information on our Dental Practice Software | (800) 704-8494

Part two of our article on digital sensors by Jim Ramey continues.  For more information on this topic, be sure to read part one as well.
The terrible thing is that many doctors make the same mistake over again! They find a sensor that fits their budget, fits the practice and the staff even likes it, but the new software only works with one sensor – the one it comes with!
If you find yourself in this situation, you may ask, “What can I do to avoid ‘marrying’ another sensor manufacturer?”   The answer is simple:  Look at the imaging software first, and then look for the sensors that you like. This is the only way to make sure that your next “relationship” with an imaging software program will last in the long haul. This will give you some peace of mind that down the road you will not have to switch imaging systems again.
All imaging applications have certain basic features, but they also have unique characteristics - the most important being what sensors the imaging application works with besides the sensor that company sells. Make sure to get a list of other sensors that work with the software application, and review it.   Ask yourself, “Would any of these other sensors on the list be ones I would consider using in my practice?”
The best thing you can do is to find an “open” imaging system, such as DentiMax, that not only works with the sensor that company sells, but also with just about every other sensor on the market.  An “open” imaging system will prevent you from having to start all over again when you need to get a new sensor.  You will have the freedom to find the most cost-effective sensor, the one with the newest technology, and the one with the best image quality – regardless of what company makes that sensor.
So when you’re in the market for a digital sensor, whether you’re thinking about switching from film to digital or you find yourself in that unfortunate situation of needing to divorce your existing imaging system, investigate the imaging software system first and make sure that it is “open” software.  This will prevent heartache down the road!  And, maybe more importantly, you won’t have to worry about hiring a divorce lawyer…
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Digital Sensors and Marriage Part 1

By Jim Ramey

When purchasing digital sensors, there is always imaging software included.  Most digital sensor packages come with what I call a “closed” software system.  This means that the software included with the sensor will only work with that specific sensor.  Unfortunately, most doctors spend all of their time researching the sensor itself but don’t think about the implications of purchasing sensors that are a part of a “closed” software system.

In most cases, there is an initial “honeymoon” period for a practice that purchases new sensor technology.  During this initial period, there are normally no real issues with a “closed” software system.  Most of us don’t even recognize the “marriage” until the honeymoon is over - the sensor breaks and we need a new one.  Then, when we make a call for a quote on a new sensor, we find that the new sensor will cost substantially more than the original sensor!   And, when we shop for reasonably priced sensors from different manufacturers, we find that no other sensors will work with our “closed” software system.

Now we realize what has happened – we have already gone ahead and gotten married!  When a practice purchases that original sensor, it is, in effect, actually marrying the company that sold it.  If the practice wants or needs a new sensor, it has to purchase that company’s product and pay the price, whatever it might be.  There is no courting of other sensors.  If you want to keep your practice happy and running smoothly without any interruption in the ability to capture x-rays, then you do as you are told -- pay a premium for the new sensor.

In order to get out of this situation, you must, unfortunately, go through a painful divorce and start “dating” all over again!  You have to let various sales reps start courting, research newly available products, try to decide what sensor has the best image quality, and decide which has the best overall value and which fits best with the products you already use.

The terrible thing is that many doctors make the same mistake over again! They find a sensor that fits their budget, fits the practice and the staff even likes it, but the new software only works with one sensor – the one it comes with!

For more information on this topic, be sure to read part two as well.  

Dentimax

3 Software Tools Your Front Desk Needs Pt 2

Part two of a series on dental software explores the scheduling feature of these sort of programs...

3 Software Tools Your Front Desk Needs (Cont.)
By Kent W. Stapley, DMD

Scheduling

A practice’s financial success all starts with the schedule.

From your overall office workflow to your financials, your software’s appointment book affects just about everything in your practice. No one likes it when a high production day is followed by a day that is exclusively booked with low production procedures. Your appointment book should let you designate blocks of time for things such as high production procedures, new patient appointments and other items. This will not only help your staff create appointments in a more organized and controlled way, but will help smooth out your revenue. Keeping your high financial peeks from being followed by low valleys is a key ingredient to keeping you on track to achieving your goals.
Conclusion
In a very real way, your practice’s financial success is determined by your front-office employees. Providing your front office with up-to-date software will allow them to better perform their jobs. With the right tools, you and your staff will achieve the financial success you’ve been looking for.
Be sure to read part one of this series on dental software as well.
DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

3 Software Tools Your Front Desk Needs Pt 1

Part one of a series on dental software explores the financial side of these sort of programs...

Dental Software and Front Desk Support

Call Today for Information on our Dental Practice Software | (800) 704-8494

3 Software Tools Your Front Desk Needs Pt 1
By Kent W. Stapley, DMD

If you don’t have competent, knowledgeable front-office administrators who are equipped with the right tools, your financial success may ever be around that proverbial “next corner.”  Fortunately, proven companies like DentiMax, Dentrix, Softdent and Eaglesoft continue to provide updated software with the tools your front desk needs to collect your money.
To make sure your practice’s financials are where they need to be, allow me to recommend the following three software tools:

• Accurate financial reporting
• Easy-to-understand ledger screen
• Simple scheduling

Financial Reporting
I have seen practices focus totally on increasing daily production totals while completely ignoring collections.  Not collecting on your production is akin to spinning your wheels in sand--you’ll work really hard but not go very far.  Make sure your software offers accurate financial reports so that your front desk can more easily collect from your patients and their insurance companies.
I have a colleague who had been collecting less than 70 percent of what he was actually producing.  He hired a new front desk employee who used his practice’s insurance aging reports to aggressively go after the outstanding insurance payments.  Additionally, she started sending monthly statements to the patients, and ended up sending a few patients to collections.  What was the end result?  For the next three months, my associate collected 15 percent more than what he produced!  This equated to a total net increase of $60,000 that went to his bottom line.
My friend was fortunate; his software had accurate aging reports that his “high-powered” office manager was able to use to collect his money.  Make sure your staff is equipped with good aging and financial reports and that they review them frequently.
Ledger Screen
Has a patient ever asked you for an exact breakdown on his or her family’s balance and, when you went to the ledger screen looking for answers, you became confused yourself?  How can you expect your patient to pay when you can’t even tell what is owed?  To be fair, a large family with a multi-year history will tax any software’s ledger system.  Fortunately, there are software systems, like DentiMax and Eaglesoft, which now offer line-item accounting.  This simplifies the ledger screen, displaying the dollars collected next to their corresponding procedures, letting you know which procedures were paid in full, which were partially paid, and which were not paid at all.  Now you and your staff can provide quick, accurate answers to your patients’ financial questions.
Your software’s appointment book affects just about everything in your practice.
Be sure to read part two of this series on dental software as well.
DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com

Digital X Rays: Top Ten Things You Can Do With Your Old Darkroom

Digital X-Rays are the future.  But what do you do if you have old school X-Ray equipment?

Digital X Ray Sensors Can Change Your Practice | (800) 704-8494

Digital X-Ray Sensors and X-Ray Developers

If you purchased or built out your dental office over five years ago, you may very well have one of those small rooms that used to house your old, temperamental, chemical-consuming x-ray processor. Your employees used to wear a path to this room over and over, multiple times every day. Some days the processor worked slowly, but well. Other days it didn’t, and you had no choice but to call the $100 per hour technician! Then something changed -- you decided to try some of those new-fangled digital x-ray sensors! At first, you kept your old x-ray processor “just in case.” Then you and your staff stopped going to that little room entirely. The door was shut, and nobody has given it a second thought since.
Digital x-ray technology has proven itself to be equally reliable and incredibly superior to film in diagnostic quality, time efficiency, overhead reduction, patient exposure, and environmental impact. I have been utilizing digital x-ray sensors in my own practice for a year and a half now, and I would be willing to argue that the digital x-ray has been the single-most revolutionary addition to the practice of dentistry since the advent of light-cured composite!

Digital Sensors

I have been extremely satisfied with the DentiMax sensors my staff has been using day in and day out. One of the things that excited me the most about these sensors at first was the price! It made me skeptical that they were one of the least expensive sensors available while at the same time being the slimmest. The CRA report on the DentiMax sensors rated them very high in comparison to the much more expensive “Name Brand” sensors we have all heard of. I am happy to report that the chance I took on these sensors has paid off.
I have also found my digital imaging software to be extremely intuitive and easy to use. The tools it provides are powerful, and they have helped me countless times as I have been able to easily diagnose and show my patient what is wrong in his or her mouth. My treatment plan presentations have increased in quality and efficiency now that I can easily show patients, on a 23” screen, exactly where the problems are. Even more important to me, I sense that my patients trust me more as their dentist and they take ownership of their treatment plans more readily after they have been able to see for themselves, in black and white and a thousand shades of grey, what needs to be done.
So, back to the darkroom. What in the world should we do with those little abandoned rooms that exist, or will shortly exist as soon as you make the move to go digital?
And so, without further delay, “THE TOP TEN THINGS YOU CAN DO WITH YOUR OLD DARKROOM,” in descending order:
10. Remodel it into a shower.
9. A place to put those bulky, old, archived paper files.
8. Start a retro photography hobby.
7. Install a soda fountain with energy drinks where the processor used to be.
6. Change it into a private office for the office manager or associate.
5. Panic Room!!! (You decide what kind of panic.)
4. Convert it into a floor-to-ceiling saltwater aquarium.
3. Create a sauna room (for those cold winter days or when the A/C is freezing you out).
2. Turn it into a tanning booth! (Great for employee retention.)
And the number one thing you can do with your old darkroom --
1. Finally, a place to put that cushy massage chair.
I wish you the best as you decide what to do with yours.

DentiMax, LLC
4115 E. Valley Auto Dr.
Suite 101
Mesa, AZ 85206
(800) 704-8494
(480) 396-1798
http://www.dentimax.com