When working in the dental industry it can be a hassle to get your customers to pay their bills if they don't have insurance. The good news is that there are a variety of techniques and tactics you can use to get your customers to pay what they owe, and keep your business going. Let's take a look at the four best ways you can keep your customers paying their dental bills.
1. Reminders
Sometimes your customers don't pay their bills because they simply forget, or maybe they just need a little nudge to get them to act. In cases such as these reminders via text, email, or even a friendly phone call can do the trick.
The key to making this work is to be friendly about it. If you come across sounding like a pushy debt collector then that can create friction, and cause your customers to become more resistant to the idea of paying you.
A slightly more aggressive variation of this is to present your customer with a link to the contract that they signed. This will remind them that they are legally bound to pay you. It isn't a threat, but it is a good reminder that the law is on your side.
2. Debt Collection Agencies
This is usually a last resort, but if you can't get your customers to pay up, you can hire a debt collection agency. How this works depends on the agency itself. Some will buy out the customer account and you'll never have to worry about it again. Others will simply work on your behalf to get the customer to pay.
If you choose to hire a debt collection agency to get your customer to pay up, consider the fact that they probably won't be doing any further business with you. Also keep in mind that this option is typically only viable for larger debts, and won't be worth it for smaller ones.
3. Collateral/Security Interest
This is somewhat extreme, but if you've been burned in the past by customers, you may want to start working collateral or a security interest in the contracts you have them sign.
The concept is simple: Your customer must put up something of equal value to the debt that they take out from you. If they don't pay their debt, then they lose the property that's specified in the contract. Of course, how this works will vary depending on how the contract is set up.
4. Management Software for Your Contracts
The first step to making sure your dental customers pay you on time is keeping track of the debts owed to you. You can do this using the best contract management software available.
Generally speaking, this software will keep track of all debts owed, all payments made, and of course your customer's contract history. This can allow you to identify customers who have a history of not paying on time. In some cases the software may even provide automated reminders that it will send to your customers.
Get Paid On Time Every Time
As a dentist you know that your services are expensive, that's why dental insurance exists. This means that if you're offering your services to people who don't have insurance you'll definitely want to be using contracts to seal the deal.
If a customer of yours has violated their contract it may not be worth it to pursue legal action meaning that you'll need other ways to get them to pay what they owe. Using the above techniques you should have an easier time getting your customers to come around, and pay their bills.