Module 7 Review
in-house payment plan
payment installments are paid directly to dental practice
statement time interval of collection process
0-30 days
Six Steps to be followed in placing a phone call
1. Plan the call 2. Plan your questions 3. Place the Call 4. Be prepared to resolve the problem 5. Review whats expected 6. Record whats expected
Two requirements of a properly written collection letter
1. concise 2. Short 3. to the point 4. should increase intensity 5. dentist approved before sent
two reasons why audit reports are necessary
1. identify omissions or errors 2. to protect employer against embezzlement
five steps to be followed in completing an audit report
1. reports written with info that is tabulated and collected 2. have a computer to organize and store 3. have writing be long and laborious 4. use different formats and criteria 5. get information from check registers, deposits, and statements
Mailed Reminder time interval of collection process
30-60 days
Telephone reminder time interval of collection process
60-90 days
collection letter time interval of collection process
90-120 days
role of the ADA in managing financial transactions
ADA is responsible for bookkeeping which is recording all financial transactions
At what level in the collection process should a letter be written?
Level Three
Ultimatum time interval of collection process
Longer than 120 days
components of pegboard bookkeeping system
NCR Paper with carbon strips on back so its easily written one time
credit card
another form of payment in full. Payment amount will be discontinued and deposited directly into the practices account
turning of account over to collection time interval of collection process
no response to letter
outside payment plan
payment installments directed by a loan company
divided payment plan
payment is divided by length of treatment
payment in full
payment is made immediately after dental visit by patient
Insurance Billing
payment is paid by third party carrier
extend payment plan
payment is spread out overtime
purpose of an audit report
to ensure that all transactions have been posted
