Businesses around the world rely on consistent cash flow to be successful. The same is the case with dental practices. To achieve this, there are certain hindrances, especially unpaid bills, which could happen due to communication gaps with the patients or patients needing to catch up due to financial difficulties. This causes trouble for your revenue and disrupts the relationships you have built with your patients after so much hard work, which you would not want. You will find some gold nuggets regarding your past-due dental collections in this blog.
Source: Freepik
Simplifying Dental Collections and Improving Your Financial Health
To recover your debts while maintaining your patient’s relationship, you should look for an experienced agency that could effectively manage your dental debt collection and preserve the integrity of your relationship with your patients. Look no further than CollectCo, loaded with many innovative solutions that will take all your debt recovery issues off your plate and maintain your hard-earned relationship with your patients. Its automated, streamlined and patient-friendly approach will let you recover your outstanding invoices and strengthen your financial health.Are Dental Bill Sent to Collections?
Unpaid invoices can pile up quickly and could put you in a situation where you might get frustrated, and when that happens, eventually, your business faces the consequences. You might wonder “Can dental bills be sent to collections”. The answer is yes, dental bills go to collections and to your surprise, it is widespread. Patients fall behind for several reasons, including unforeseen financial issues or forgetfulness. This is a situation where you need an experienced debt collection agency that is well versed in dental collection procedures and well equipped with automating accounts receivable for businesses. CollectCo’s innovative technology focuses on early intervention and automated follow-ups so that your unpaid dental collections don’t turn into long-term delinquencies.Navigating Dental Collection Laws
CollectCo’s dental practice collection software is built in a way that it adheres to dental bill collection laws while offering top-notch dental collection services. It helps dental practices attain their financial strength by maintaining cash flow, with laws like the Fair Debt Collection Practices Act (FDCPA) paving the way to preserve patients’ rights, recover your debt, and protect your practice. The best part of this software is that it is a full-service-based collection agency that provides specialized services specifically designed to improve dental collections.Source: Freepik
How CollectCo Simplifies Dental Collections
Unpaid invoices must be tackled with a more thoughtful approach, and that’s the specialty of CollectCo. This software removes the complexity during the recovery process and focuses on early intervention, automation, and preservation of your relationship with your patients. Here is how CollectCo works.Early Intervention for Improved Recovery
Many patients simply need timely reminders to stay on track with payments. Following is what CollectCo is best known for.- Flat Fee Collection: CollectCo’s most affordable and flat-fee services are incomparable that helps you to start your debt recovery process with any hidden charges.
- Automated and Polite Reminders: CollectCo is built on a system that sends automated and gentle reminders that encourages patients to act timely and pay their outstanding debts without being pressurized.
- Minimized The Risk of Patient Attrition: We communicate professionally, ensuring the collection process doesn’t harm your relationship with patients.
Preserving Patient Relationships
The main fear for any dental practice is that during the recovery process of unpaid invoices, they might lose their customers or think that this process could damage their patient relationships. CollectCo is very aware of that, and that’s why it acts as an extension of your brand and treats patients with due respect during the entire process.- Gentle Communication: Our communication style is empathetic and patient-focused, ensuring patients feel supported while resolving their debt.
- Maintaining Trust: We prioritize maintaining a good relationship with your patients, ensuring that debt collection does not erode their trust in your practice.
Automation and Streamlined Process
Those days are long gone when collections were handled manually. It’s time-consuming and, most importantly, a waste of internal resources, which you should avoid. CollectCo has its unique approach in this case.- Automated Collection Services: CollectCo sends general reminders to track overdue invoices and uses automation to speed up the recovery.
- Streamline Collections: CollectCo’s innovative software is built to streamline your dental bill collection process so that you focus more on patient care and let it do the hectic administrative tasks.
Tailored Collection Strategies for Aged Debt
All unpaid invoices are different and require different strategies. That is why CollectCo is based on a customized approach to dealing with every overdue payment, leading to difficult-to-collect debts.- Contingency Collection: The best part of CollectCo is that you only pay a percentage of what we recover for you in our contingency service for hard-to-collect accounts.
- No Upfront Cost: CollectCo is here to save your resources so that you can pay your old debts without investing additional costs and resources.
Improving Cash Flow Without Straining Relationships
Overdue collections are the driving force that could harm your financial health. Meanwhile, traditional recovery methods cause friction with patients. In this case, CollectCo is intelligently designed that will help you maintain positive patient relationships you can rely on.- Boosting Cash Flow: The faster the recovery, the faster your cash flow can flow back in. That is why CollectCo speeds up your recovery process without damaging your integrity.
- Preserving Reputation: For any business to thrive, it is pertinent to maintain a positive reputation. You can have peace of mind knowing that your reputation is intact by using advanced collection software.
Why Choose CollectCo?
CollectCo is based on the most advanced collection technology and is a solution to hiring another debt collection agency. CollectCo partners with you to optimize cash flow and maintain strong patient relationships. Combined with automation, compliance, and a patient-focused approach, it ensures that you keep everything we recover for you with minimal hassle.How CollectCo Helps Dental Practices:
- Recover unpaid balances faster
- Preserve patient relationships
- Improve overall cash flow
- Simplify the debt collection process