Читать книгу Managing Finances: Guidelines for Practice Success - American Dental Association - Страница 10

Some dental practices are essentially all-cash operations, meaning that no outside or third-party method of payment, such as assignment of payment to the patient through a third-party benefit administrator, is accepted. Patients who have some type of dental benefits are responsible for filing claims on their own in order to receive reimbursement for the cost of dental care received. These patients may have a Health Savings Account (HSA) or Flexible Spending Account (FSA) which allows them to allocate pre-tax dollars to pay for certain healthcare expenses. Patients with these types of accounts typically pay for treatment directly and request documentation that they can submit in order to be reimbursed from the account. It is up to the patient to confirm that the care provided qualifies for reimbursement under the provisions of the Internal Revenue Service (IRS).

While every practice should follow the appropriate financial protocols, dentists who operate all-cash practices must make certain that their accounting procedures are well-documented, double-checked and beyond reproach. Not only is this a financial best practice, it’s also an effective way to protect your practice from possible embezzlement; all-cash practices sometimes lack the documentation and paper trail that’s created when claims are channeled through third-party payment mechanisms. This paper trail offers a certain, although limited, amount of protection against embezzlement.

While every practice should follow the appropriate financial protocols, dentists who operate all-cash practices must make certain that their accounting procedures are well-documented, double-checked and beyond reproach.

Most practices that accept cash payments request — and receive — payment in full at the time of treatment. This protocol often reduces the number of cancelled appointments since patients are already financially committed, recognize the benefits of their care, and recognize the link between their investment and their treatment.

Remember, cash in hand is ideal, but if there is recurring billing you should have a protocol in place that tracks collections daily, weekly and monthly, no exceptions. There are software programs today that can do that for you, but it’s important to understand how the software works so you can be certain that the proper accounting practices are being followed and that what you see in the books matches what your financial person tells you.

Consider offering a cash payment plan to patients who need extensive treatment and who have consistently paid their bills on time. This arrangement allows credit-worthy patients to pay for a portion of their dental work up front as a down payment; the typical amount is generally one-third to one-half of the total cost. It also ensures you can cover any fixed costs, such as lab bills and standard overhead, while simultaneously offering reliable patients a little latitude in paying for treatment. Under this arrangement, the patient makes several payments of a fixed amount on a regular schedule.

Consider offering a cash payment plan to patients who need extensive treatment and who have consistently paid their bills on time.