Collection Strategies for Transitioning

Congratulations Doctor, you have now sold your practice and are entering the transition phase of your successful career. There will be some interesting days ahead and planning an exit strategy is paramount to leaving your patients with a good feeling about their years under your care.

You have now found out that the receivables do not sell with the practice. That is one of your culminating tasks as a dental entrepreneur. You will be surprised at the work and frustration it will create to finalize patient accounts. Let’s face it , that is not the side of dentistry you favor. Patients should just send in the money because you have taken care of their family dental needs for years. For a number of reasons, it just does not work that way.

The receivables are all yours but can be a major stumbling block if not handled properly. You need someone ( a third party) to continue the follow up to make sure that your hard earned money is safe in your bank. When you look for a third party, the first thing that comes to mind is that there are a number of payments still being considered by insurance companies. The next thought is that some of the accounts are beyond the 90 day safety net and are potential problems.

So, what you really need is a third party who understands medical, dental patients, the billing process. Someone who can place those accounts with an insurance professional for follow up and collection. That being said, we need a medical service bureau. One that can separate the ready and willing payor from those who need encouragement.

Not to worry ! We have just such a service company for you. Our Agents are anxious to assist you in the introduction and placement of your receivables so you can move forward with the practice transition. Just think while you are traveling and spending time with friends and family, you have a group of professionals resolving issues and making sure your patients have someone to help them finalize and clear up their account. Carry on and relax, you are in good hands.

If you are not currently working with one of our Agents, look at the agent roster on our web site and select a professional to assist you. Kunau & Cline Agents are standing by to receive your call: 626.583.8484