Although immensely rewarding, running your own dental practice can be challenging. Here are four common challenges faced by dentists in private practice.
- Managing cash flow
Cash flow can be do or die for your business and is a common issue many medical practitioners deal with. Due to medical schemes not paying the money owed to you in time, or patients forgetting to pay their bills, keeping a steady cash flow can be extremely hard and detrimental to cash flow.
Hiring Data Spot-On to take over your patient accounts administration will most likely increase your cash flow. We constantly follow up on outstanding medical billing accounts with either medical aid schemes or patients, so you can have your money in your account in little to no time.
- Patient retention
For your dental practice to thrive, you need to have a consistent influx of patients which can be hard to do if patients aren’t loyal. Patients consider every experience they have with the dentist no matter how insignificant, even when it comes to their medical account.
We personally deal with all patient queries regarding their medical accounts. Seeing that your medical practice account administration is our responsibility, your patients can account on a friendly, accurate and knowledgeable encounter with us regarding their bills – elevating their experience with your dental practice.
- Working with medical aid schemes
This is every medical practitioner’s nightmare. Medical aid schemes are difficult to work with. Furthermore, having a third party dictate your practice’s prices and possibly cut your profits and revenue won’t exactly have you smiling from ear to ear. Luckily you won’t have to interact with medical aid schemes- that’s our job! We submit patient medical details and follow up regarding outstanding accounts they are liable for.
- Collections
This is probably the most tedious and unpleasant aspect of running your own medical practice. Having to chase after your money through countless phone calls or emails to patients or medical schemes is sure to keep any one up at night. Time costs money and your time should be spent on your primary business not admin.
Data Spot-On applies medical practice management to your patient’s medical accounts. We ensure that money owed to you will soon be in your account, whilst still maintaining good relationships which your practice has forged during the years.
With Data Spot-On by your side, your medical billing administration will be in tip-top shape, leaving your practice in a better position to succeed!
