Dr. Dean C. Bellavia

1-716-834-5857

BioEngineering@twc.com
FINANCIAL CONTROL Pearls
FINANCIAL CONTROL Pearls

FINANCIAL CONTROL Pearls

 

If you want to Maximize your Net,

 

you might find these Manegament Pearls of value.


  Does your net usually fall within 35% and 55% of your collections?  Are your charge adjustments/courtesies greater than 3% of your fees?  Are some of your “expenses” actually part of your net?  Do you have a monthly budget?  If not, maybe this management pearl can help.   In the previous management pearl we discussed how to maximize your collections.  In this pearl we will discuss how to keep as…

Do your collections accurately represent your adjusted production?  Is your bookkeeper collecting everything charged?  Are your past due accounts minimal?  Are your Credit Card, Direct Deposits and Insurance payments under control?  If not, maybe this management pearl can help.    Once your starts and miscellaneous charges are properly posted, you need to collect all of them.  Unlike charges, which are instant the day they are posted, collections are posted over…

Is your production optimum for your services?  Is your TC setting your fees and financial agreements correctly?  Are your contracts accurately set up on your computer and followed up?  Is your financial coordinator a part of your financial agreement control?  Are your miscellaneous charges getting posted?  If not, maybe this pearl can help.     In the complex world of orthodontic charging, billing, collections and expenses many clients find themselves…

Are you sure that whatever collections coming in the door are getting to the bank?  Are your miscellaneous charges making it to the bookkeeper to bill?  Most doctors think that they have this under control until it is too late.  Maybe this pearl can help put your mind at ease.   Most practices think that just because they have a computer that their income and charges are under control.  And…

Are your financial systems all that they can be?  Have you accounted for the necessary sub-systems required to make your computerized financial systems more effective?  If not, maybe this pearl will help.   Lets face it, making system changes in your practice isn’t typically met with great staff zeal.  But if your team is a part of the entire process, your success is more probable.   Sooo...Analyze the attachments below…

Is your Financial Coordinator a strong analyzer who pays attention to financial detail?  Is your Financial Coordinator a weak director who finds it difficult to collect past due accounts?  Unfortunately, this is typically the situation, but this pearl can help you to reconcile this dilemma.   A typical Financial Coordinator is usually a task-oriented-person with a strong analyzer style, but a weak get-it-done director style.  The strong analyzer style allows…

Latest Management Pearl

  • A~D~D~I~C~T your Financial Systems
    Are your financial systems all that they can be?  Have you accounted for the necessary sub-systems required to make your computerized financial systems more effective?  If not, maybe this pearl will help.   Lets face it, making system changes in your practice isn’t typically met with great staff zeal.  But if your team is a part of the entire process, your success is more probable.   Sooo...Analyze the attachments below…