Let’s face it: If you asked dental office managers to identify their favorite part of their job, “collections” would probably rank pretty low. However, it would probably rank first if you asked them about the most important aspect of running a business. Without collections, you don’t have a business at all. So how do you make the process easier on your staff and less dreadful in general?
First, it’s important for practices to realize that sending patient statements doesn’t have to be a dreaded monthly chore. In fact, it doesn’t have to be a monthly ritual at all because you can send bi-weekly, weekly or even same-day statements. Practice management software enables that kind of flexibility, making billing less time consuming and stressful for your staff. However, not all practice management software is created equal; you need the right tools.
That’s why XLDent, a practice management system, created an “all-inclusive” suite with features specifically designed to help make a dental practice more profitable. Here are some of the specific features that help take the dread out of collections:
1. Instant Data Sorting – XLDent's instant data sorting capabilities offer user-friendly analytical management tools, including a suite of reports, patient quick letters, Word merge capability, and a Document Archive Center. As office managers explained in Dental Product Shopper’s evaluation of XLDent, the platform is fully integrated, allowing them to obtain necessary billing information quickly and more easily. XLDent provides instant access to all patient information, and all charges and treatments are entered in the treatment room. This eliminates the staff’s concerns about missing charges or treatment plans.
2. On-Screen Flexibility – Improving your access to information is only part of improving your collections process; being able to easily interpret information is also crucial. XLDent’s on-screen data organization allows users to see all patient information on one customizable screen. The latest in grid technology provides users with on-screen data organization control, and the Patient Toolbar offers easy access to patient history, alerts and web-based solutions, including prescriptions, insurance eligibility and claims.
3. Powerful Reporting – The most powerful reporting happens in real time. XLDent’s KPI Dashboard provides an analysis of key practice areas, and it’s compiled and presented in easy-to-read graphics. From a dashboard on your mobile device, you can have a window of access into the health of your practice’s performance. Of course, that’s on a macro level of practice management. In terms of micro-level, day-to-day functionality for your staff, XLDent’s Clinic Production and Collection Report provides a summary of production, collections, debits and credits for each month. This report can also provide grand totals when run for the year, which can help practices plan for the future.
There are also two patient-facing features of XLDent that can help ease the collection process for your staff.
Accounts receivable collections - XLDent offers a patient web portal that allows patients to access their account online, make payments, see treatment plans that need to be scheduled, and view the statements they’ve received.
Credit card processing – Often, insurance company payments make up most of the share of a practice’s collections; however, some patients may still need to pay a portion and/or make a copayment. XLDent has partnered with TSYS, a healthcare-specific payment processing firm, to provide seamless integration for credit, debit and ACH transactions. The web-based solution combines specialized software with a card-reading device that integrates right to XLDent, saving staff and patients time at checkout and leading to fewer bad debt accounts.
By offering patients various methods of payment, including credit cards, debit cards, and checks, a practice can collect money more promptly. Users can also tap into the recurring payment feature and pre-authorization forms to automatically charge patients when a balance is due or to set up payment plans.
Learn why XLDent earned a “Best Product” award from current customers by reading the DPS product evaluation.