Ep. 186: 3 Things You Can Change Today to Boost Your Collections

 

In this episode, we’re diving into three actionable strategies that dental practice owners can implement right away to boost their collections and improve their cash flow. Tune in for practical tips that will help you increase revenue without overhauling your entire practice—these small changes can make a big impact! 

 

Morning Production Meeting - https://www.mgeonline.com/morning-production-meeting-download/ 

ABCs Seminars- https://www.mgeonline.com/mge-communication-and-sales-seminars/ 

New Patient Intake Form - https://www.mgeonline.com/np-intake-form/ 

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Questions From This Episode

According to a study of 10,000 new patient phone calls, what's the average conversion rate for a dental practice?

The average practice converts about 23 percent of new patient inquiries into actual scheduled new patients, meaning a practice getting 100 calls a month, whether that's a price shopper, an insurance question, or any other new patient inquiry, is only converting about 23 of them. That same study also found conversion odds improve the longer the call runs, with roughly eight minutes marking the real sweet spot.

How should a receptionist actually handle a price shopper call, rather than the common we don't quote prices over the phone response?

Ask permission to gather a few details before answering the price question, then genuinely dig in, who told them they needed the treatment, how many teeth are involved, whether they're in any pain, since most shoppers were actually told they need multiple units, which is exactly why they're shopping in the first place. That real conversation, rather than a flat refusal, is often what actually gets the person to come in, since nobody else calling around is likely giving them that same level of attention.

What are the three categories every non-hygiene-scheduled patient falls into, and why does sorting them matter?

Patients not yet overdue but with no future appointment on the books, patients recently overdue, six months or less, and patients overdue for more than six months. Sorting the list this way lets a team actually divide the outreach work, with treatment coordinators focusing on overdue patients who have real outstanding treatment and everyone else splitting the remaining calls, rather than the list just sitting there untouched.

Why does Jeff recommend keeping the morning production meeting separate from the clinical huddle covering room setup and cement choices?

Combining the two turns a quick planning session into an hour long meeting, and they serve genuinely different purposes, the clinical side is better handled the night before, while the morning production meeting is specifically about which patients are coming in that day, what outstanding treatment they have, and who has the actual physical time to talk with them about it. Skipping that planning step can mean a treatment conversation simply never happens, since nobody confirmed in advance whether the doctor had any real time available.

What's the minimum standard Jeff sets for how a doctor should handle stating a treatment plan's cost?

At minimum, the doctor personally tells the patient the total cost and what insurance is expected to cover, then hands off to the treatment coordinator to work out the actual payment arrangements, rather than avoiding the number entirely. Patients are most likely to listen to and act on what the doctor specifically says, so skipping the fee conversation, even briefly, tends to quietly suppress treatment acceptance.

Episode Transcript

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Ep. 187: Why Younger Dentists Aren’t Buying Practices - and How to Change That!   

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Next

Ep. 185: When to Walk Away - Escaping the Sunk Cost Trap