Episode 862
862: Metric Mondays: What You Don't Know About Net Collections Percentage – Dr. Barrett Straub
Collecting 95% sounds great. But there's a big problem: you're leaving 5% on the table! In this episode of Metric Mondays, Kirk Behrendt brings back Dr. Barrett Straub, ACT’s CEO, to break down net collections percentage. You'll learn why 95% isn't as great as it sounds, how it’s killing your practice, and what you can do to raise this KPI. To learn what you need to know about net collections, listen to Episode 862 of The Best Practices Show!
Learn More About Dr. Straub:
- Send Dr. Straub an email: barrett@actdental.com
- Join Dr. Straub on Facebook: https://www.facebook.com/barrett.d.straub
- Send Gina an email: gina@actdental.com
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
- Download ACT’s BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360
- Download ACT’s BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_US
- 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 862: https://www.youtube.com/@actdental/videos
- Register for ACT’s To The Top Study Club (April 11, 2025): https://www.eventbrite.com/e/climb-with-us-register-for-april-11-2025-ttt-study-club-tickets-1012966789937
- Register for ACT’s To The Top Study Club (July 25, 2025): https://www.eventbrite.com/e/climb-with-us-register-for-july-25-2025-ttt-study-club-tickets-1205497959849
Main Takeaways:
- Your goal is to collect 100% or more.
- If you're not collecting 100%, understand why.
- Make sure your team is aligned with your expectations.
- 97% is great on a chemistry exam. It’s not great for net collections.
- Pre-collect from patients. When you owe dentistry, you have less stress.
- Whoever collects money needs to be confident in the value of your dentistry.
Snippets:
0:00 Introduction.
0:38 Net collections, explained.
2:07 Why net collections is so important.
2:33 The problem with 95%.
4:49 Pre-collect from patients.
6:16 What it means when you’re collecting less than 100%.
7:21 The mindset of the person collecting money.
8:42 The importance of right person, right seat.
10:45 Action items you can start today.
12:59 Last thoughts.
Dr. Barrett Straub Bio:
Dr. Barrett Straub practices general and sedation dentistry in Port Washington, Wisconsin. He has worked hard to develop his practice into a top-performing, fee-for-service practice that focuses on improving the lives of patients through dentistry.
A graduate of Marquette Dental School, Dr. Straub’s advanced training and CE includes work at the Spear Institute, LVI, DOCS, and as a member of the Milwaukee Study Club. He is a past member of the Wisconsin Dental Association Board of Trustees and was awarded the Marquette Dental School 2017 Young Alumnus of the Year. As a former ACT coaching client that experienced first-hand the transformation that coaching can provide, he is passionate about helping other dentists create the practice they’ve always wanted.
Dr. Straub loves to hunt, golf, and spend winter on the ice, curling. He is married to Katie, with two daughters, Abby and Elizabeth.
