Orthodontic Practice

Home/Credit Management/Star Projects/Orthodontic Practice
Orthodontic Practice 2017-05-22T02:14:59+00:00

Results

  • More money – The Aged Trial Balance reduced by 32% (over $70,000) after only 8 weeks. It has remained at this lower level.
  • Monthly statements were abandoned and an automatic payment process introduced that was taken up by 88% of clients.
  • More control – Reporting Schedules, KPI’s and Responsibilities were clarified and Management are now aware of exactly what is happening in their own business.
  • Time saved – Staff spend considerably less time actioning overdue accounts.
  • Less Patient confusion – Payment of Fees is discussed with all new Patients at their Initial Consultation.
  • A “New Patient Folder” was created containing Medical Questionnaire, Health Fund Requirements, Ongoing Health Care matters, Payment options and a “Welcome As A Patient Of The Practice” letter.


Original Situation

  • The practice had a very time-consuming debt collection process.
  • Monthly statements were taking 3 staff one full day to collate, prepare, envelope and mail.
  • Many patients were paying by monthly coupons, and generally late doing so.
  • Staff not confident talking to patients on the phone.
  • One Office member spending 2 full days each week “chasing up” debtors.
  • Many patients not paying their Initial Consultation fees ($70).
  • The Directors not really aware of what was/wasn’t happening with the accounts.
  • There was no clearly defined New Patient Procedure in place.

THIS is what we did