Abstract
The topic of money in the dental practice is often
a difficult one. As a business owner, you need money
from patients to cover your overhead. Many patients
see their financial responsibility as a hurdle and it’s a
common reason they put off treatment. The majority of
patient issues, and the main reasons patients leave dental
practices, are often connected to money in some way..
Because a dental practice cannot survive without
cash flow, it’s important to have the financial area of
your practice well established with systems and a trained
person making financial arrangements and collecting
payments. Even if a doctor provides excellent dentistry,
without a well-run financial department, the practice
may end up with low treatment acceptance and patient
acceptance, less-than-average collections, and a high
number of upset patients and no-shows. It’s important
to have the right person in the financial coordinator
position—ideally, someone with interpersonal skills
who can work with patients to create financial solutions
so treatment is accepted and paid for.
Course description
This course details how to establish an effective
financial coordinator position in the dental practice. It
includes a sample job description, the key tasks of the
position, and how to find and hire the right person and
implement performance monitors, which contribute to
consistently collecting monies owed to the practice.
Educational objectives
Upon reading this article, participants should be able to:
- Create a financial coordinator job description and checklist.
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Hire or appoint the best person for the position.
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Collect payment for a higher percentage of services delivered.
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Implement effective financial policies and guidelines.
- Better manage the financial area of the practice.
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