Question: Should I accept installment payments from patients?
ANSWER: The first thing that I was taught getting into the dental industry early on was to always remember that we are a dental office and not a bank. You should not accept installment payments from patients in office and only work with a third-party finance company if the patient does not want to or cannot pay in full.
To learn more about patient accounts and accepting payments in your dental practice, watch these training videos!
|Module 3||Patient Accounts|
|Welcome to Patient Accounts. Patient Accounts is the third series in the Financial Coordinator course. In this series, we look specifically at the patient and their account with the office. In your role as Financial Coordinator, you will work actively with the patients in your practice to help them understand their financial obligations and it is important to refine your communication skills. Here, we go into more detail about your role in figuring out patient balances, balancing patient accounts, family accounts and explanations to the patient. The videos in this series develop your knowledge and skills as you learn to deal directly with patients and their accounts. Front Office Rocks recommends that you complete Purpose of the Financial Insurance Position first to identify the expectations of the role in more detail. Next, complete Figuring Out Patient Balances – Patient Did Not Pay Last Time, Explaining a Balance to the Patient, Account Balances – The Importance of Notes, and Breaking Down the Patient’s Account to break down the parts of a patient’s account and how to address account issues. Finally, complete Family Account Billing Issues to learn the specific account needs of a family set up in your system.|
|Unit 1||Purpose of Financial Insurance Position (7:44)|
|Unit 2||Figuring Out Patient Balances – Patient Did Not Pay Last Time (6:50)|
|Unit 3||Explaining the balance to patients (10:04)|
|Unit 4||Account Balances – The Importance of Notes (7:55)|
|Unit 5||Breaking Down Patient's Account (12:12)|
|Unit 6||Family Account Billing Issues (6:08)|