Exclusively to Clients and Friends of Advanced Practice Management
The Rossi Dental Dow Jones for June:
I hear from you that you’re hearing from your patients that they are worried about the economy. Our sampling of data from 35 mature client offices shows that through April of this year, production is up 7.5% and collections are up 5.1% compared to last year’s averages. New patients are down slightly (1.5%) and recall exams are up 3%. The average collection percentage is 94% and the average accounts receivable ratio is 1.4 with 30% collected at the time of service.
So, statistically speaking there is no downturn. The most notable negative statistic is that downtime has increased in both the Doctor’s and Hygienist’s schedule. It boils down to a couple of hours more per Doctor and hygienist per month.
As mentioned in the last bulletin, I recommend that you line of up 2 or 3 evening hours of phone time each week for helping to nail down your schedule. You still won’t reach everyone but you’ll reach more people than if you call just during the day. If just 2 to 4 more appointments are made or kept per week it will be very worthwhile.
Money and Patients:
Everyone wants to get paid for their services but no one wants to lose a good patient over discussion of money. It can be the most uncomfortable encounter in a dental office. Yet the number one thing on Minnesota’s Dental Patients Bill of Rights is the right “To know in advance the type of treatment that will be provided and the expected cost of treatment”. In most practices this is not happening as consistently as it should.
Just as you are always refining your clinical technique, your front desk staff needs to continue to refine their collections techniques. Treat your front desk staff to Shelly’s upcoming “Collections Seminar” on July 25th. As a client, you get first dibs and a break on the tuition ($30 off each person*). Please register before July 1st. We’ll be mailing all Minnesota dentists soon and want to make sure there is room for your staff.
*So $120 for the 1st person and $69 for each additional. Please reserve space before July 1st.