Ozarks Capital Funding

Are you a dental professional who “assumes” that your billing and collections are being handled in an efficient and competant manner? Don’t. You should do a periodic review of these all-important tasks because they affect the life blood of your practice: cash flow. One way of monitoring is to evaluate the collections to total production ratio. If that ratio is out of whack, you should find out why. You should also randomly check to make sure all services are being properly billed out.

From a factoring standpoint, you will be granted a higher advance rate and a better fee structure if your billing collection function is operating soundly. If there is volatility and inconsistency in these areas, the factoring company will view your practice as being riskier than normal. This increased risk will be reflected in an adverse manner when you receive a factoring proposal. Although you will receive the working capital you need, it will cost you more to get it.

You devote your expertise and care to your patients and probably don’t have a lot of free time to administrative functions. That’s why you have a support staff. But it is critical for you to allocate a few hours a month to reviewing your present billing and collection systems.

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