Finance webinar to help dentists collect what they produce
Dentists sometimes have patients concerned about financing treatment plans, even though many practices have policies, programs or systems in place to help the patient. Having to manage patients’ payment plans can make dentists feel like the patient’s loan officer instead of their health care provider.
The ADA Council on Dental Practice is sponsoring a one-hour program, GPS Managing Finances Webinar: How to Collect What You Produce, on Dec. 7 to assist dentists in making sound business decisions when helping patients finance treatment.
“Running a successful dental practice requires dentists to be more than a master of clinical work,” says Dr. Julia K. Mikell, a member of the Council on Dental Practice and the chair of its subcommittee on the Guidelines for Practice Success. “The dentist must also be an informed and smart business owner who understands the importance of tracking expenses, maximizing revenue and minimizing risk.”
The webinar is scheduled for noon-1 p.m. Central Standard Time. The presenter is Cathy Jameson, Ph.D., founder of Jameson Management, an international dental management and marketing firm.
Topics covered in the program include:
• Ways to help patients overcome the “fear of cost” objection to treatment.
• Why it isn’t profitable to use dentists’ own capital to finance patients’ dentistry.
• How to avoid common misunderstandings when discussing financial responsibilities with patients.
Following the program, participants should be able to establish and integrate a functional financial system; understand and implement proven methods of professional collection; and eliminate receivables while reducing overhead costs and increasing cash flow, according to the course description.
This program is the third in a series of webinars based on content from the ADA Guidelines for Practice Success modules. This webinar recaps some of the information available in the GPS module on Managing Finances. That resource offers tips on overseeing the revenue and expenses in a dental practice, including handling patient financing options; resolving credit card disputes; budgeting for rent and mortgage; managing payroll; taxes and more. It also offers information about different dental benefit plans, including indemnity, managed care, capitation and government-funded programs such as Medicaid and Medicare.
One hour of continuing education credit is offered to participants who complete at least 45 minutes of the program.
Register for the free webinar at https://cc.readytalk.com/r/l4g5fe1w7gnj&eom.