Orthodontic collections companies are in demand for most orthodontic practices. A collection company is hired to collect payments and provide accurate patient billing data for dental insurance companies, dental clinics, and other medical practices. You should consider many factors when choosing a collection company to make your orthodontic practice financially stable.
1. Company Reputation
The reputation of the company is important because it will make or break your partnership. Today, many companies offer orthodontic collection services, but not all have good reputations and are reliable. Find out how long a company has been in business. If they’re new, you may want to research their reputation.
If you happen to collaborate with a reputable collections agency, it can mean more money for your practice since their rates are so much lower than other agencies’. Also, if you end up collaborating with an unreliable team, it could lead to possible legal action against the practice.
2. Payment Schedule and Details
There are many factors to consider when choosing an orthodontic collections company, like the payment schedule, for one example. Make sure that you understand all of the fees and details that come with working with their agency before signing any contracts or committing yourself to any deals. If they’re unwilling to explain these things to you in detail, this is a red flag indicating there could be shady intentions behind the contract terms.
3. Contract Terms
It would help if you also looked at the contract terms when choosing an orthodontic collections company. You don’t want to sign a contract with any agency that doesn’t include certain details, such as your obligations and the legal responsibilities of both parties.
Be sure to ask if past clients have any complaints before signing a contract with a new agency. If they’re willing to present you with references or examples of their work in the form of testimonials, this is even better!
4. Fraud Protection Features
You need to know that some companies will offer fraud protection features to ensure that your practice is protected against scammers and people trying to steal money or personal information from patients. The best way to stay safe against fraud is to choose an agency that offers these features.
5. Insurance Protection
This is very important when choosing an orthodontic collections company! You need to make sure that the company you’re considering has insurance protection in case something goes wrong. You don’t want to end up in a scandal or any legal trouble from patients, so be sure to ask about it and if the company will provide your practice with additional insurance policies.
Be sure to look at the transparency of a company when choosing an orthodontic collections agency. You want to make sure that you can trust them completely and are comfortable sharing financial information and personal data with them.
7. Company Reputation on Social Media Sites
The best orthodontic collections companies will have a strong social media presence and will likely include testimonials from their clients on their websites or other online formats. If this is not the case, it would be better for you to choose another agency with a stronger online presence since they may not be as popular or reliable as new ones.
8. Collection Agreements
You should also consider the collection agreements of a company when choosing an orthodontic collections agency! If you’re not sure about any part of the contract, ask for clarification before signing anything. You don’t want to sign anything that will jeopardize your practice in any way or form.
Other Factors to Consider
Many factors can influence your decision-making process when choosing an orthodontic collections agency, such as the location of their office or companies they collaborate with. You want to pick an agency convenient for you to collaborate with since it will make things easier for both parties.
Trustworthy Orthodontic Practice Management Services
At OrthoSynetics, we believe that the best orthodontic collections agency is the one that provides services while protecting your financial security and maintaining an excellent relationship with patients. We value our clients by providing them with a service of high quality! We also offer orthodontic marketing services as well as revenue cycle management.