Nearly every dentist across the country is affected by the COVID-19 shutdown. The impact: months without patients in the chair means a significant drop in revenue. Our dental revenue experts have compiled a list of key steps to recover lost revenue and make 2020 a positive financial turning point.
7 Strategic Steps to Take Right Now
Assess unpaid and unfiled insurance claims
List your top three most profitable types of patient visits. Remember, your highest revenue items are not always your most profitable
Use your practice revenue optimizer software to create a report identifying patients who need to complete those most profitable procedures
Run a real-time benefits check to see who has remaining insurance benefits
Personally call your patients to check on them and share updates about remaining insurance benefits. Schedule them now, even if you think you may need to reschedule again in the coming weeks
For open calendar slots, ask staff to prioritize patients in the report alongside those displaced during the office closure. Strongly consider expanding work hours
Assess your software for efficiency and compliance. As you equip your practice with tools to handle whatever lies ahead, you’ll want to understand your current capabilities and confirm your true HIPAA-compliance status. If you’re still working from a server system in your office, make the move to a cloud-based system
Putting these steps into practice right now will empower you moving forward. Even outside of a crisis, keeping a keen eye on revenue opportunities will always benefit your practice bottom line.