Cash Flow Kings and Queens: The Dentist's Guide to Mastering Accounts Receivable

Accounts Receivable (AR) Management is critical to managing your cash inflows and creating the practice of your dreams. At ACT Dental, we coach teams to keep cash in the bank rather than just on the books, and we’re extending our knowledge directly to you.

Why Accounts Receivables are Important:

Operational Sustainability - Dental offices require a steady flow of cash to meet daily operational expenses such as payroll, utilities, rent, supplies, and equipment maintenance. Effective AR Management ensures there is a consistent inflow of funds.

Avoidance of Financial Strain - Poor AR Management can lead to delayed or insufficient cash flow, creating financial strain which can incur additional costs and interest, further straining the office’s financial health and your mental health as a practice owner or administrative member.

What You’ll Learn:

Importance of Accounts Receivable (AR) Management for maintaining cash flow and operational sustainability
How to avoid financial strain by managing AR effectively
Understanding the components and categories of AR in a dental practice
Evaluating your practice’s AR management with key questions and metrics
Detailed action timeline for managing AR from day 1 to day 95

Key Takeaways:

Collecting payments at the time of service is crucial as it minimizes past due and delinquent accounts and is essential for maintaining financial stability. It is also important to document all interactions and attempts to collect payments to ensure a clear record of the process and prevent further financial complications.