Take the area of overhead for example; many practices will assign an employee to catalog duty. You know the drill, comb through page after page of catalogs, search the Internet, call the suppliers all in an effort to dig up the best bargain on everything from rubber bands to rubber cement. What's the ROI (return on investment) for this exercise? Virtually nada. Understandably, practices look to the obvious to reduce costs, but it's the hidden costs that often really add up, and those are frequently never even considered.

A new DENTRIX service, called PowerPay, targets one of the common expenses in a dental practice - the use of credit cards. Let me explain, every dental practice must offer patients the option of paying with a credit card. However, each time the credit card is used it costs the practice money. Until now, that expense had to be dismissed as simply a cost of doing business. But with PowerPay, the DENTRIX doctor can process credit card payments through the DENTRIX clinical and practice management software at significantly lower interchange rate than with the typical point-of-sale (POS) credit card terminal. In fact, that rate is a nearly 50% less. But that's only the beginning.

With a single swipe, this software accomplishes many objectives. Company officials call it integrated credit card processing, I call it a significant headache reducer! Consider accounts receivables. If yours are more than one month's production you have a problem that needs to be addressed. For example , if your production for last month was $75,000, your total accounts receivable shouldn't be more than $75,000. Achieving that goal can be made virtually effortless for the practice by making payment easy for the patient.

Start with PowerPay. What distinguishes PowerPay is that it allows the practice and the patient to set up a payment plan on their credit card. The patient's credit card is charged on a recurring basis until the dental work has been paid in full. The set-up process is incredibly fast and easy for both staffs and patients. And the best part, PowerPay catalogs and manages your practice financials, streamlining the entire payment procedure. With a swipe and the punch of a button, it processes and posts the payment to the patient's ledger within DENTRIX. Thus, it reduces the potential for error and eliminates three time consuming steps - the need to key in the charge amount on the point-of-sale terminal, the need to run the card, and the need to post the approved payment within ledger. What's more, with the patient credit card payments, the practice does not need to send bills. Now you're talking significant savings in both time and money.

In addition to seriously considering PowerPay for your practice, when it comes to accounts receivables, make sure your patients are fully aware of your financial policy. Often patients with seemingly unreasonable expectations have never been provided information on the office's policies. As well as accepting major credit cards, consider these payment arrangements:

• Allow patients to make two equal payments in a specific period, for procedures over $500.
• Require insured patients to pay their portion at the time of service.
• Offer a slight adjustment in the fees, such as 5%, for more costly procedures paid in full.

Inquiring Minds want to Know .

• Engage patients in conversation about their oral health goals. This provides invaluable insight into the patient's perceptions, fears, expectations, concerns, and, most importantly, potential objections to treatment .
• Ask several broad questions and listen to what your patient is and is not telling you. For example, "How do you feel about your smile?" "How well can you chew with your partial?" "How would you feel if you had all of your teeth?"
• Use the open questions to get to the heart of what is going to motivate the patient to pursue treatment.
• Encourage the patient to do most of the talking.

• Present the case in terms the patient can understand.
• Avoid clinical references or prematurely using materials that may graphically demonstrate the procedure before the patient is emotionally committed.
• Use testimonials from other patients who sing your praises and encourage prospective patients to talk to others about the procedure. Nothing will have more impact than the endorsement of another successful patient.
• Train and involve the entire team in reinforcing the treatment plan with the patient - from the chairside assistant to the front desk.

• Welcome objections and encourage them. " Do you have any fears or concerns about the treatment? "
• Avoid the natural tendency to react defensively or feel frustrated. Objections are another means for the patient to gather information and are essential in enabling them to feel confident in their decision to pursue the recommended treatment.

Sally McKenzie, Certified Management Consultant, is a nationally-known lecturer, author, and consultant to the Council on Dental Practice of the ADA . She is President of McKenzie Management, which provides in-office analysis of the business, clinical, and hygiene department; conducts on-site staff training; and offers a full line of educational management books, audiotapes, and videos. McKenzie Management is endorsed by the California Dental Association. She is founder of The Center for Dental Career Development, which provides advanced business education to the dental profession as well as team-building retreats in La Jolla , CA . For information on what any of these companies can do for your practice, or to receive Sally McKenzie¹s Weekly e-Motivator newsletter, which provides targeted management tips, call Sally toll-free at 877-777-6151, email sallymck@mckenziemgmt.com or visit her web sites at:
www.mckenziemgmt.com
www.dentalcareerdevelop.com