Dental Office Bookkeeping


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Dental Office Bookkeeping

  1. 1. Bookkeeping • It is simply the recording of financial transactions. • Transactions include purchases, sales, receipts and payments by an individual or organization.
  2. 2. •The dental practitioner should be very involved in their practice's accounting to maintain order, prevent theft, and keep costs under control.
  3. 3. • Bookkeeping in the dental office is usually performed by a… Dental Office Bookkeeper
  4. 4. The Dental Office Bookkeeper • Handles all dental office finances which includes: Accounts Receivable – the money owed to the practice, & Accounts Payable – the money the office owes to others.
  5. 5. • This person may also handle the patient’s dental insurance and make financial arrangements with the patients for payment of the dental service. • The inventory and supply system may also be handled by this person.
  6. 6. • Above all, this person must be organized, have knowledge of dental treatments, and exhibit good communication and problem-solving skills.
  7. 7. Income – A book that contains the profit of the dental practice. – It involves the charges to patients for services that are done by the dentist. – This is recognized when it is received.
  8. 8. –A book that contains the expenses of the dental practice. – It involves the money that goes out of the office. – This is recorded when it is paid. Expenditures
  9. 9. •The price one pays as remuneration for services. Fees usually allow for overhead, wages, costs, and markup. Fee
  11. 11. The survey inquired about additional fees for: • Nitrous oxide/anesthetics (58% charge an additional fee) • Missed appointment charges (57% charge an additional fee) • Home care products (15% charge an additional fee)
  12. 12. • Patient education (6% charge an additional fee) • Cleaning of implant-restored teeth (only 3% charge additional fees) • Caries detection technologies (3% charge an additional fee) • Filling out insurance forms (less than 1% charge an additional fee)
  13. 13. Financial Record • Another important facet of the patient record relates to financial arrangements. • It is prudent to include in the patient record a note or notes about the financial
  14. 14. arrangements and agreements made with the patient and/or guardian concerning the settlement of accounts.
  15. 15. • a copy of any written agreement with a patient; • the date and amount of all fees charged; • the date and amount of all payments made; The financial record for each patient must include:
  16. 16. • an itemized listing of all commercial laboratory fees that were incurred in respect to prosthetic, • restorative or orthodontic services; • copies of all dental claim forms for the preceding two years.
  17. 17. If dental treatment is provided for a patient on a basis other than fee- for-service, or where the responsibility for payment is with a person other than the patient or patient’s guardian, you should be aware of the following recordkeeping requirements. Any such agreement with a patient must:
  18. 18. • Be in writing; • Be maintained as part of the patient record; • Identify the person or persons entitled to dental services under it; • The dental services to which they are entitled; • State the period of time it will be in force;
  19. 19. • Specify the obligations of the parties in the event the member is unable to provide covered services, including the obligations to make further payments and the application of payments that were previously made.
  20. 20. • If payments for dental services are made on behalf of a patient by a third party, the financial record must include the identity of the person or agency making such payment.
  21. 21. • Patients must be aware not only their dental needs but of the value of the services rendered. • Also, patients must give informed consent & must understand the office’s policies on matters of credit & collection.
  22. 22. –Comes from the Latin word Credo, which means "I believe". –An arrangement with a shop, bank, etc. that allows you to buy something and pay for it later. Credit
  23. 23. • A document issued to a customer who owes money. • For example: A dental procedure which is endodontic treatment that he/she should pay in a form of installment. Credit Note
  24. 24. • The act of obtaining money that is owed to dental office. • All dentists should be acutely aware of the collection percentage in their dental practice and review it on a monthly basis. Collection
  25. 25. •In many practices, a major source of practice income is reimbursement from dental insurance plans. Insurance
  26. 26. • This includes name, address, phone numbers and place of employment of the patient & the responsible party (if different) & specific insurance information.
  27. 27. Licenses
  28. 28. • Includes dentist’s school diploma, certificate of registration, professional identification card, certificates of training/residency, certificate of proficiency issued by specialty council, the Board of Licenses
  29. 29. Dentistry and such other documents, or papers required by the law shall be displayed in his clinic or reception room. • Plaques, Testimonials, Certificates of Appreciation obtained as a result of the dentist’s professional competency maybe displayed separately in the dentist’s private office only.
  30. 30. • For other venues of practice, a certified true copy shall be obtained from the dental school and Certificate of Registration and Professional Identification Card obtained at PRC and properly posted at the aforementioned areas.
  31. 31. Permits
  32. 32. • A person engaged in the practice of a profession requiring government examination such as a dentist is, by express provision of the Local Government Code, exempted from this requirement. Permits
  33. 33. • Also licensed dentists and members of good standing Philippine Dental Association, are exempted from payment of Mayor’s Permit because the practice of Dentistry is an exercise of a profession and not a business concern.
  34. 34. •However, the code instead provides for a professional tax on professionals belonging to this class.
  35. 35. • Professional Dentist who has paid the corresponding professional tax to the province where he practices his profession shall be entitled to practice his profession in any part of the Philippines without being subjected to any other national Taxes
  36. 36. or local tax, licenses, or fee, including the Mayor’s Permit or license fee, for the practice of such profession. • According to: – SEC. 139. Professional Tax.
  37. 37. • SEC. 139. Professional Tax. – (b) Every person legally authorized to practice his profession shall pay the professional tax to the province where he practices his profession or where he maintains his principal office in case he practices his profession in several places: Provided, however, That such person who has paid the corresponding professional tax shall be entitled to practice his profession in any part of the Philippines without being subjected to any other national or local tax, license, or fee for the practice of such profession.
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