Dental Accounting Services: Watch Your Profit Soar

Dental practices experience more fraud in their bookkeeping than perhaps companies in any other industry. The reality is, the dentist has enough going on to keep the practice running, and ensuring that their office staff are abiding by GAAP standards is just one more business “to-do”.

Suggested Reading:How do I sell my dental practice?

Platinum Recall specializes in dental accounting. We take this function off of your hands and guarantee that you won’t have to worry about it. Next time you see a dental office specialist on the news for embezzeling thousands of dollars, you can rest assured that that won’t happen to you.

Our dental bookeeping team provides expert services to practices throughout the continental U.S. Not only do we help practices avoid common pitfalls such as misreading financial reports, minimizing the importance of a standard chart of account, recording transactions incorrectly, and misunderstanding the relationship between profits and cash flow, but we also

  • Provide you with timely financial statements
  • Coach your team on managing costs and maximizing profit
  • Educate on avoiding common accounting mistakes

Suggested Reading:Optimmizing Your Staff

Optimize your practice at its core by implementing effectivedental bookkeeping practices. From there, watch your profit soar! We can coach and guide you on how to negotiate better rates with suppliers and shore up unnecessary expenses. When you need our dental recall and dental marketing services,give us a call at (800) 900-2012.

How Do I Boost Production?

A lot of dentists are facing the same challenges: “How do I boost production without investing in more staff, assets, or working longer hours?” or, “How do I increase case acceptance?” or, “How do I attract and retain more patients?” and others. We know that many dental practices face these same problems because we talk to new doctors every day with them! The good news is, however, that whether you relate to these challenges or are facing others, our staff at Platinum Recall will help you find the solutions right for your staff and your practice.

Not every community or dental practice is the same, which is why our staff adapts the principles of successful practices to the unique needs and circumstance of your practice. The good news is this: our services will boost your production within the first month or your money back.

The services we offer are designed to address these challenges common to most dental practices. For example…

How do I boost production without investing in more staff, assets, or working longer hours? Platinum Recall offers consulting services to our patients to help address the heart of this problem: Are your efforts to boost production being thwarted by a lack of capacity (which is rarely the case), a lack of new patient appointments, a lack of cohesiveness in the office, wasted time on unnecessary tasks… the list of possibilities are endless. This is why, for most dentists, the roadblock to their success is sometimes imperceptible, because it takes the experience and expertise of a dental coach to identify the root cause of the problem. Whatever your situation, however, we guarantee thatour staff can strengthen your production within the first month of contracted service.

How do I increase case acceptance?Platinum Stats is a software we offer to dental practices designed to help you visualize the progress of your practice. One of the statistics that you will see every day is Case Acceptance, and you can see how well your practice is doing. If the rate is really low, our staff of dental coaches can help you identify and practice better techniques to sell more dentistry. Often communication, patient education, and opening a real conversation with the patient about their concerns is the key.

How do I attract and retain more patients?Platinum Recall, our dental call center or dental phone answering service, is a service that calls every patient you have ever seen and schedules appointments with those who have not been into the office in the past 6 months. We promise to schedule 10-40 new appointments a month or your money back.

Platinum Recall is designed to take your practice from average production levels to the highest echelons of the industry. Many of those we serve wonder, “How do I sell my dental practice?” not knowing that many of the struggles of a dental practice are common across the industry. Whatever the state of your practice, we have seen our clients grow despite years of stagnation, and we want to make it happen for your practice, too. Please schedule yourfree demo today or give us a call at 800.900.2012 for a consultation.

Cancellation Policy

When a patient schedules an appointment in a dental office, the office sets aside a part of it’s day to attend to the patient. During this time, the office is expected to make a certain profit depending on what procedures are being done for the patient. When a patient cancels, it leaves the office with a gap in their day where they are no longer going to be making a profit. In order to prevent this from occurring, it’s important for the office to have a cancellation policy.

Cancellation policies will vary from office to office but the purpose of a cancellation policy is to prevent last-minute cancellations that don’t allow time for the office to fill a hole in their schedule. A simple and common cancellation policy is requiring 48 hours notice if the patient will be missing an appointment otherwise the patient will be charged a $50 missed appointment fee. With a cancellation policy such a this, the office is given two days to try and fill the open appointment time.

It’s important to notify the patient of the policy when they schedule the appointment. This way the patient understands what is required of them. It’s equally as important to hold them accountable for the missed appointment fee if they do cancel with less notice than is required. Doing so will prevent any future missed appointments and/or abuse of our cancellation policy. There are extenuating circumstances that merit a one time waiver of the fee. Don’t get caught in the trap of never enforcing your cancellation policy or you will train your patients to be unreliable.

If you have found yourself so overwhelmed with the current state of the market and want to sell your practice, you may be the perfect candidate for an account with Platinum Recall. Our software, approach, and mission is so simple you could explain it to your staff over coffee: We specialize in revitalizing and boosting production levels of suffering (and ambitious) dental practices. Ourdental call center provides 24/7 call answering services to your patients but also reactivates old patients. We promise10-40 new appointments a month or your money back, guaranteed. In addition to patient retention and reactivation, we also providedental bookkeeping and dental accounting services. In many cases, our accounting experts save dentists money and prevent embezzlement/fraud (a near-epidemic in the dental industry). Ourteam training helps get your staff on the same page. Considering the fact that many dental practices throughout the country suffer from dysfunctional teams, we promise to unify and strengthen the power of your team, getting them on the same page and working towards higher levels of production, together.Platinum Stats is our service to help your practice track progress, providing visual indicators of progress and success rates to help target where your practice is, and where it can be. Finally, ourdental lab provides a way for you to bundle services and save, to say nothing of theincredible aesthetic quality and durability of our work.

Platinum Recall specializes in helping dental practices thrive. If you find yourself asking, “How do I sell my dental practice?” or just feel like your production levels have plateaued, call888.421.6263 or try afree demo.

In short, maybe a better question for dentists looking to sell their practices is “How do I sell mydentistry?” and, in that case, we have all the answers.