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According to a survey, dentists perceive past due accounts as the biggest threat to their revenue cycle. Past due debt should not be an accepted way of doing business. If you have slow or lazy payers, you need to take necessary measures to reduce account receivable days.
Don’t be complacent when it comes to bad debt, fearing that the patients will leave if you follow-up with them regarding their non-payment. It is very important for dentists to understand account receivables in order to run their practice because it pays for their bills, facility and their salary. Good account receivable management is possible only when you focus on discovering and correcting inefficiencies in office practices that lead to denied claims and lost revenue.