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15 Surprising Issues in Dental Accounting

The accounting staff of dental practices may encounter several unusual or unexpected problems that they might not always be fully prepared for, given the unique nature of dental billing and practice management. Some of these include:

1. Complicated Insurance Reimbursements:

Dental insurance often has complex reimbursement structures with specific limitations on procedures, frequency of treatments, and maximum coverage amounts.

For instance, a patient might come in for a crown, expecting their insurance to cover most of the cost. However, the insurance may only cover 50% of the procedure, or the patient may have already maxed out their annual benefit limit. Navigating these intricacies can lead to unexpected delays and denials, which can be frustrating and time-consuming for both patients ans accounting staff.

2. Handling Capitation Plans:

Some dental practices may participate in capitation plans, where they receive a fixed amount per patient from an insurance company regardless of the services provided.

For example, if the practice receives $20 per month for each patient covered under the plan, but several patients require costly treatments like root canals or dentures, the practice may struggle to cover its costs. This can create challenges in managing cash flow and ensuring profitability, particularly if the practice experiences higher-than-expected patient visits or procedures that are costly to perform.

3. High Volume of Small Transactions:

Dental practices often deal with a high volume of small transactions, especially when patients pay out-of-pocket for co-pays, deductibles, or non-covered services.

For example, a patient might pay $10 for a fluoride treatment and $30 for a cleaning. This can lead to challenges in tracking and reconciling payments, particularly if the accounting staff is not accustomed to handling such a high volume of low-dollar transactions.

4. Frequent Patient Disputes Over Billing:

Patients often have misunderstandings about what their dental insurance covers versus what they are responsible for paying.

For instance, a patient may receive a bill for a filling and argue that it should have been covered fully by their insurance. This can lead to frequent disputes or requests for payment plans, requiring the accounting staff to spend significant time explaining charges, correcting billing errors, and managing patient expectations.

5. Seasonality of Revenue:

Dental practices often experience fluctuations in patient visits and revenue based on the time of year.

For example, there may be an increase in visits at the end of the year as patients try to use up their insurance benefits before they expire. On the flip side, summer months may see a dip in appointments due to vacations. This seasonality can create challenges in budgeting and cash flow management that the accounting staff may not anticipate.

6. Coordination of Benefits (COB) Issues:

When patients have dual dental coverage (e.g., through two different insurance policies), coordinating benefits can be complicated.

For example, if a patient has both a primary and secondary insurance, the accounting staff must determine which plan pays first and how much. Incorrect coordination could result in underpayments or delays, making it difficult to maximize reimbursements while avoiding overcharges.

7. Unanticipated Write-Offs:

Dentists may have to write off certain charges unexpectedly due to various reasons, such as insurance not covering as much as anticipated, incorrect coding, or goodwill adjustments for patients.

For instance, if a claim is denied because the treatment was not pre-authorized, the practice might have to absorb the cost, affecting revenue and complicating the accounting staff’s ability to forecast financial performance accurately.

8. Complex Fee Schedules:

Dental practices often have multiple fee schedules based on different insurance contracts, discounts for cash payments, and special rates for certain groups (e.g., employees, family members).

For example, a practice might charge $150 for a cleaning for cash-paying patients but only $90 for patients with a particular insurance plan. Managing and applying these fee schedules accurately can be difficult, particularly if the practice deals with a wide range of insurance providers and plan types.

9. Sudden Changes in Insurance Policies:

Insurance companies may change their coverage policies, fee schedules, or claim processing procedures with little notice.

For example, an insurance company might suddenly decide to lower the reimbursement rate for a common procedure like a filling, or require additional documentation for claims. These changes can lead to unexpected billing challenges, delays in payments, or adjustments to previously submitted claims that the accounting staff must quickly adapt to.

10. Increased Regulatory Scrutiny:

Dental practices, like other healthcare providers, are subject to increasing regulatory scrutiny, particularly concerning billing practices.

For instance, if a practice is found to be incorrectly coding procedures to receive higher reimbursements, they could face fines or audits. Accounting staff may find themselves dealing with unexpected audits, compliance reviews, or the need to implement new procedures to comply with evolving regulations, such as those related to patient privacy (HIPAA) or fraud prevention.

11. Integration Issues with Dental Practice Management Software:

Dental practices often rely on specialized software to manage patient records, appointments, and billing.

For example, if the practice’s scheduling software doesn’t sync correctly with its billing system, it could result in missed charges or double billing. Integration issues between this software and the accounting system can lead to discrepancies, data entry errors, and inefficiencies that the accounting staff may not be equipped to handle without significant troubleshooting.

12. Unexpected Patient Demographics:

In some cases, dental practices may experience shifts in their patient demographics (e.g., more elderly patients with Medicare or Medicaid coverage) that impact the types of services provided and the reimbursement processes.

For example, if a practice sees an influx of elderly patients, they may encounter more complex billing issues related to Medicare, which operates differently from private insurance.

13. High Patient Turnover:

Dental practices often experience high patient turnover, particularly in areas with transient populations or in practices with aggressive new patient acquisition strategies.

For example, a practice in a college town might see a significant turnover each year as students graduate and move away. This turnover can lead to unpredictable revenue streams and create challenges in managing patient accounts, especially when dealing with unpaid balances or transferring records.

14. Equipment and Supply Depreciation and Wear and Tear:

Dental practices rely heavily on specialized equipment and supplies, which can be expensive to maintain and replace.

For example, a dental chair might break down unexpectedly, requiring a costly repair or replacement. The accounting staff may face challenges in managing the depreciation of these assets, budgeting for replacements, and handling the financial impact of unexpected equipment failures or supply shortages.

15. Fraud and Embezzlement:

Dental practices, like other small businesses, can be vulnerable to fraud and embezzlement.

For example, a staff member might manipulate the billing system to divert funds for personal use. The accounting staff may need to develop internal controls and safeguards to protect the practice’s finances and detect any potential irregularities. This might include implementing checks and balances, conducting regular audits, and monitoring financial transactions closely.

These unusual problems require accounting staff in dental practices to be adaptable, detail-oriented, and knowledgeable about the specific challenges of dental billing and financial management. Regular training, clear communication with the dental team, and a proactive approach to managing these issues can help mitigate their impact.

Filed Under: Dental

Debt collections utility for Eaglesoft dental software

Collect911 has introduced a utility that can quickly transfer accounts from your Eaglesoft Dental Practice Management software to Collect911 for debt collections without the need to manually re-enter accounts on Collect911’s client portal. This saves a lot of time for the practice.

For about $15 per patient, Collect911 will

1. Send 5 collection letters to your patient (or debtor).

2. We will check if the debtor has moved to a new house and send letters there.

3. If your patient has filed for bankruptcy or not

4. Check if the patient is litigious or not, to protect your practice from costly lawsuits.

5. Update status in case there is a Mail Return.

6. Ability to forward this account for intensive collections ( Contingency based Collector calls) if the debtor still refuses to pay.


All this for only $15 per account. You can free up our staff time and focus on your dental practice. Performing collection tasks in house is a costly affair and may result in a full time position if the number of late paying/delinquent patients increase.

Additional features of Eaglesoft and Collect911 utility ( Collections Extract Manager) include

1. Ability to transfer accounts to any step ( 1st party demands, 3rd party demands and 3rd party Collector calls)

2. You decide what should be the minimum outstanding balance eligible for collections.

3. Only send accounts if a payment hasn’t been made in ___ number of days and have been ____ days past due

4. Transfer accounts one by one or in bulk.

5. If you make a payment in your Eaglesoft software, our utility will pick that up and reflect on our client portal.

Screenshots from the Collect911-Eaglesoft utility



Apart from Eaglesoft, we have utilities many other popular dental software and billing platforms. Contact us if you are using:

  • Dentrix,
  • Solutionreach Dental,
  • CS PracticeWorks,
  • CS SoftDent,
  • CS OrthoTrac,
  • Lighthouse,
  • Dentrix Ascend
  • Easy Dental

Filed Under: Dental

Cost effective collections for AthenaHealth users

Our collaboration with Athena Health offers medical practices an efficient, courteous, and streamlined approach to debt collection for overdue accounts. You have the flexibility to establish your own collection policies. This means you can opt for automatic transfer of past due accounts to us based on criteria you specify, or you can choose manual transfer, where accounts are only sent for collection after your individual review. The frequency of transfers can be tailored to your preference, with options for weekly, bi-monthly, or monthly transfers.

Upgrade to a collection agency that is more responsive, cost-effective, and boasts significantly improved collection rates. Experience a near-zero complaint rate from patients.

Transfer of Past Due Accounts:
You will be able to directly transfer past due accounts from Athenahealth to us without the need to re-enter them on our client portal. Since we reports all payments collected back to Athenahealth, you will be able to track the collections progress both inside the Athenahealth’s platform or by logging on our client portal.

Account transfer rules:
Transfer rules can be set up based on your choice, which includes whether you want to transfer all past due accounts automatically after certain number of days, or manually transfer accounts one by one as needed. You can further setup rules if you want accounts to be transferred for Collection Letters service or to go for more intensive Collection Calls.

How to setup
First step is a signed agreement between Collect911 and the Practice. You will provide consent for transfer of accounts from Athenahealth to us for collections. Then one of our representative will setup an online interactive meeting with you and complete the setup process which takes about 15 minutes.

Benefits and Pricing

  • Reduction in days in receivables
  • Ability to maintain the patient relationship
  • A low cost solution
  • No setup fees, no long term contracts, no hidden fees.

Collection Letters Service (also called the Connect – Step 1 or/and Step 2)

  • Best used on accounts 30-180 days past due (You control the process).
  • Customized setup of up to 5 Collection Demands.
  • Letters and/or phone calls.
  • Flat-fee of no more than $9.75 per account.
  • Best utilized after the third statement.
  • All money paid directly to you or in your Athena PO box account.
  • Written demands are sent in colored print for maximum impact.
  • Spanish and English contacts.
  • Scrubs performed: Litigious Patient, Bankruptcy, USPS Change of Address.
  • Unlike other agencies, accounts purchased from us never expire. But majority of AthenaHealth clients are setup on a “Pay-as-you-go” basis so you won’t have to setup anything in advance.

Collections Calls by a debt collector (also called the Collect – Step 3)

  • No upfront cost, we charge only if we collect.
  • 40% contingency fees.
  • Best used on accounts over 180 days past due.
  • Process controlled by us.
  • We accept payments and puts them into a trust account and will send you the contracted percentage the following month.
  • Credit Reporting, if requested

Legal (Step 4):
Accounts may be forwarded for legal intervention if all other reasonable strategies have been exhausted.

Athena Health

Already using another collection agency?
Try us and we sincerely believe that you will be delighted to see the difference.

Here is a short video about our integration.

https://youtu.be/Fp4PvihJ9_0

 

Filed Under: Dental, Medical

Collection Agency for Dental Offices

dental collection agency

10 out of 10 dentists recommend us!

Our HIPAA compliant patient-sensitive service is the perfect match for your practice. Our objective is to achieve a near-zero complain rate during the collections process, and protect your reputation.

We ensure that working with us is extremely simple for your dental office team.

Our persistent, diplomatic, yet a firm approach endures maximum recovery for your accounts while fully attempting to preserve your relationship with your patients.

We are Dental Collection Experts

Serving hundreds of dentists nationwide: Contact us

Check our Google reviews (2200+ reviews, averaging 4.85 out of 5).

Not just clients but even debtors have left 5-star reviews about our collection agency due to our debt collectors’ positive and amicable attitude.

Our recovery rates are way higher than the industry average.

Dental collection agency should have a deep understanding of the dentist and patient relationship. Even with no fault of the dentist himself, a single cranky patient can attempt to spoil the reputation of a dental practitioner in many ways:

1) He may post negative reviews on Twitter, Yelp or Google
2) Spread negative publicity with word of mouth.
3) File a legal suit against the dentist for violating debt collection laws.

Dentists face ever-increasing challenges, including increased competition, changing regulatory environment and business complications. Amid all these challenges, the pressure of reduced cash flow due to non-paying past due accounts can be frustrating and a roadblock to expanding their practice.

Dental collections made simple:

Delivering enhanced collection results and improving patient experiences are the core principles of our dental debt collection solutions.

Dental Collection Services:

The Collect911 Advantage: Dental Collection Agency

a) No Expiration on Accounts: Unlike most agencies, the fixed-fee accounts purchased with us never expire, allowing you to buy in bulk at a lower price without worrying about unused accounts expiring.

b) Compliance: We strictly adhere to federal and state laws, including HIPAA, GLBA, TCPA, and FDCPA, ensuring full regulatory compliance for dental collections. We also follow all Credit Bureau Reporting laws.

c) Seamless Integration: We integrate with popular billing software like EagleSoft and Dentrix, enabling easy transfer of accounts through a simple interface, saving you time and hassle.

d) Enhanced Collection Letters: Our collection letters are printed in color, ensuring your patients take them more seriously compared to standard black-and-white notices.

e) Guaranteed Results: We guarantee collections of at least twice your purchase price if accounts are processed as per the contract or offer a refund under specific conditions.

f) 24/7 Account Access: You can submit and monitor accounts anytime via our online portal.

g) Industry Expertise: We specialize in dental collections and stay updated with regulatory changes in the field.

h) Extra Debtor Checks: We perform additional checks on debtors, including address updates, bankruptcy status, and litigation history.

i) Contingency Services: For harder-to-collect accounts, we offer a no-recovery, no-fee contingency service for debts over 5-6 months old.

j) Transparent Pricing: Our pricing is clear with no hidden fees.

k) Cost-Effective Fixed Fees: Step 1 and Step 2 services offer a highly cost-effective way to recover past-due accounts, with a 30% discount under our combo package.

l) Credit Reporting Option: We offer to report debts to credit bureaus upon request.

 

Filed Under: Dental

Medical Collection Agency- Recover your money

medical collection agency

In the health care industry, early intervention to recover past-due bills is extremely important compared to any other industry.

But Why?
The financial situation of patients quickly deteriorates as their other medical bills are likely piling up.

It is important to recover money in the first 3-6 months before they completely lose the ability to make payments and may even resort to filing bankruptcy.

Medical practices often serve both self-pay patients and those with insurance. Our collection agency can handle the nuances of collecting from both groups, whether it involves negotiating payment from self-pay patients or resolving issues related to unpaid insurance claims.

We are a leader in medical debt collections serving hundreds of medical practices all across USA. High recovery rates.

  • A dedicated team of All-American debt collectors, who specialize in collecting medical debt only.
  • Treat your patients with respect and protect your reputation.
  • Free “Change of Address Check” on every account submitted in case your debtor has shifted.
  • Free Bankruptcy screening.
  • Free litigious patient check, in case your debtor has a history of filing lawsuits on medical practices.
  • HIPAA, TCPA and FDCPA complaint. Security of your data is our top priority.
  • Free Credit Bureau Reporting.
  • Both English and Spanish-speaking debt collectors.
  • Highly rated ( Google rating 4.85 out of 5 stars. BBA rating: A+), as of October 2024.

We are Medical Collection Experts

Serving Doctors and Hospitals Nationwide: Contact us

Serving thousands of medical practices. References available on request.

A medical debt collection agency ensures that your medical bill sits on top of other debts that the patient may owe. The collection agency will explain to your patient the consequences of not paying and pressurizes him diplomatically and amicably to pay off the bill either in full or in installments.

1. Urgency to submit medical accounts early

Here is a graph showing the probability of collecting money depending upon how old the debt is.

Probability of Recovering medical debt
If demand is raised within 30 days, the probability of recovering money is nearly 90%. If you wait for 6 months, the chances fall to about 50% and keeps falling thereafter. Flat fees services charged by a medical debt collection agency are extremely cost-effective than engaging your own staff to handle these account receivables.

2. Keep your patients

Attorney-approved Collection Letters (Step 1 or Step 2) play a vital role in medical accounts receivables. These two steps attempt to put enough pressure on the patient to pay without annoying him. Let’s look at this chart before we discuss it further.

Various Medical collection services

  • In Step 1, a total of five “reminder” calls/letters go out in your own name,
  • In Step 2 about five more “collection” letters go out under the name of medical collection agency. In both cases, patients make payment directly to the doctor’s office.
  • If a patient has not paid after sending Collection Letters, we recommend transferring the account for intensive collections ( Step 3 – Collection Calls service).

3. No one likes to pay for services

Accept the fact, people pay straight up in cash for groceries, diapers, cigarettes, alcohol, restaurant bills etc. because they are getting a physical product in exchange for money. After getting medical or dental treatment, a patient walks away with pretty much nothing. Willingness to pay for services goes down as time passes by.

How to shortlist a Medical Collection Agency

  • Select an agency that does not charge extra for Address Scrub, Bankruptcy Scrub and Litigious Defaulter Scrub in its Step 1 and Step 2.

  • Most agencies charge separately for Step 1 and Step 2 services. Only a few companies offer a combo package of Step 1 and Step 2, resulting in cost savings of 30% – 40%.

  • Go for a medical collection agency that does both English and Spanish demands.

  • Unused accounts should never expire.

  • Many agencies will try to sell you contingency collection services directly (Step 3) even if your debt is less than 180 days old, which means they do not charge anything initially, but they keep about 40% to 50% of the amount collected. This is a great deal for the collection agency but not for you.
  • Will the agency report your defaulters to the Credit Bureaus after all collection efforts have exhausted, and you get to set that preference.

Filed Under: Dental, Medical

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    COPYRIGHT: COLLECT911 | 2024
    Collect911 is not a collection agency on its own, collection requirements/inquiries will be forwarded to our partner collection agency . All information on this website are for general information only and is not a professional or experts advice. We do not own any responsibility for correctness or authenticity of the information presented on this website, or any loss or injury resulting from it.