The dental office financial arrangement coordinator is an important part of dental practice management.
The financial coordinator assists dental patients with making payment arrangements and coordinating dental insurance benefits so that dental treatments are compatible with the patient’s budget, thus you, the dentist, get paid in a timely manner.
When asked about having a financial arrangement coordinator for his dental office, one California dentist complained, “I wish everyone would just pay at the time of service!”
In our most recent survey, The Wealthy Dentist asked dentists if they employ a team member as a financial arrangements coordinator, and dentists were pretty split on their responses. 55% responded that they do not employ a team member as a financial arrangement coordinator, and 45% responded that they do employ a team member to carry out this important dental practice function.
Dentists’ feelings on the subject are mixed; some feel this type of position is better suited for larger dental practices, while others insist it’s absolutely necessary to have someone handle financial arrangements.
Here are just a few of the comments from the responding dentists:
“I have 1 designated team member to make financial arrangements, but occasionally another member has to step in due to the primary being out of the office for various reasons.” (Nevada dentist)
“We estimate dental insurance benefits, and receive the patient’s portion on the date services are provided. Other than that, the only other financial arrangement offered is through Care Credit. Our receptionist comfortably handles this as part of her duties.” (Illinois dentist)
“This is probably a great idea for larger multi-dentist offices, but I find it is not likely to be cost effective in a smaller practice.” (General dentist)
“We have only one person and no one else discusses money. That way it stays simple and patients can’t say someone told them something different. For the most part we have a set of rules to follow, but there is always that special situation where we break the norm.” (General dentist)
“Complete necessity to have someone ultimately responsible and the ‘go to’ person for all financial arrangements, especially patient interaction.” (Michigan dentist)
“An absolute necessity to have one person handling this!” (California dentist)
“This position is vital to keeping cash-flow running smoothly.” (General dentist)
“I make all the necessary financial arrangements directly with my patients, but I am an old-fashioned dentist in a small town, and I want to know what is going on (financially) with my patients.” (Kansas dentist)
How do you handle this dental practice management position in your dental practice? Is one person designated as your financial arrangements coordinator?