747: 3 Keys to Maximizing Collections – Ariel Juday

747: 3 Keys to Maximizing Collections – Ariel Juday

Take a handful of money and put it in the trash. Every time you don't collect, that's exactly what you're doing. If you want to keep more of what you earn, don't miss this episode! Kirk Behrendt brings back Ariel Juday, one of ACT’s amazing coaches, to share three keys that will raise your team’s confidence when collecting from your patients. To start collecting what you're worth, listen to Episode 747 of The Best Practices Show!

Learn More About Ariel:

• Send Ariel an email: ariel@actdental.com 
• Follow Ariel on ACT’s Instagram: https://www.instagram.com/actdental

More Helpful Links for a Better Practice & a Better Life:

• Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
• Join The Best Practices Association: https://www.actdental.com/bpa
• Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
• See the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/event
• Get The Best Practices Magazine for free: https://www.actdental.com/magazine
• Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

• Watch the video version of Episode 747: https://www.youtube.com/@actdental/videos
• Watch Episode 662: Work Less, Earn More: The Dentist’s Blueprint to a Dream Practice & Life: https://www.youtube.com/watch?v=YL1-tiIzBss
• Read ACT’s 5 Tips for Billing Your Full Fee: https://www.actdental.com/blog/5-tips-for-billing-your-full-fee
• ACT’s 9-Step Checklist to Improve Collections at Your Practice: https://www.actdental.com/free-resources/9-step-guide-to-improve-collections

Main Takeaways:

• Set a clearly defined financial policy.
• Have a clearly defined billing process.
• Align with your team on what collection means.
• Understand the barriers your admin team faces.
• Have countermeasures in place for difficult patients.
• Train and develop your team’s communication skills.
• Take time to practice collection techniques with your team.
• Get rid of your limiting beliefs about patients who can't pay.
• You should be collecting 100% or more. It’s what you deserve.

Snippets:

0:00 Introduction.

2:08 Why maximizing collections is important.

3:58 Have a clearly defined financial policy.

8:22 Have a clearly defined billing process.

10:13 Your admin team are the gatekeepers.

11:25 Friends don't owe friends money.

13:14 Train your team on communication techniques.

14:26 Take time to train and develop team members.

17:16 Know your blind spots to overcome them.

19:41 Final takeaways.

20:34 What should your net collections percentage be?

Ariel Juday Bio:

Ariel has a master’s in healthcare administration and several years of dental experience in all aspects of the administrative roles within the dental office. Her passion is to work with dental teams to empower team members to realize their full potential in order to better serve patients, improve office systems to ensure a well-functioning team/office, and to help everyone have fun in the process!