Posted on May 20, 2024
Managing patient collections is an important part of your practice, but it can be a very challenging part as well. According to IBIS World, there are over 15,817 orthodontic businesses in the U.S. as of 2023. You want to stay profitable and competitive in this market. Outsourcing your orthodontic collections can help you achieve this. Let’s look at a few benefits of this service.
If you handle your collections on your own, then you’ll always be limited in your knowledge and understanding of collections practices. Since this isn’t technically your profession, you’re missing out on a lot of good expertise that could really benefit you. Professional collection agencies have years of experience and innovative tools and resources to ensure that this job is done properly and efficiently. This is definitely one area of your practice where it pays to delegate a task to someone else.
If you start trying to juggle too many responsibilities, you’ll quickly discover that you’re doing none of them well. When you outsource patient collections, you free up a lot of time and energy that you can then focus on what really matters, your services to your patients. This will result in better productivity and profitability in the long run.
Many practices hesitate to outsource their orthodontic collections because they want to save money. But the ironic thing is that when you thoughtfully delegate tasks to others, you wind up saving money. These experts will be able to identify ways to save you money, streamline processes, and help make the administrative side of your practice run more smoothly.
Another benefit is that your patients will wind up having a better overall experience. When you have professionals handling your collections, they’ll know the best methods and practices for dealing with patients and getting results. Your patients will appreciate that.
A final benefit to using this service is that when you use a third party for collections, there is a greater amount of accountability. This could come in very helpful later on if there is a problem with taxes or legal matters.
These are just a few reasons why you should consider outsourcing your collections to a service. If you’re looking for professionals who can help you with these services, please contact OrthoSynetics today.
