Category: KLAS Solutions

KLAS Solutions Clinical Programs

Is your #hygiene program reaching its #goals?  Do you have goals and systems in place?  Would you like to see your #assistants utilize your #time more effectively.  How is your  #inventory control?  Are you running at 5%?  Let us grow your #business and save you money with our Hygiene and Assistant #Programs.  Contact us info@klassolutions.com #hygieneprogram #Assistantprogram #inventorycontrol #KLASSolutions

 

Clinical Flyer

Increase Your Cash Flow in 10 Steps

Klas-Dental-Solutions-15-1024x473

These 10 ways to improve cash flow can help you encourage incoming payments, delay outlays of cash and stay on top of everything in between–like payments, late fees, and billing cycles.

  1. Invoice immediately.Don’t wait untilnext week or next month. If you wait to invoice your patients, they may think they can wait, too.
  2. Use electronic billing.It’s fast, and younger patients are likely to respond more quickly when they can pay instantly. Your deposits can be deposited directly to your account and everyone saves on the cost of paper and stamps.
  3. Get it in writing. Set clear payment terms and expectations. Spell out your terms on every invoice.
  4. Include a specific due date.“Due upon receipt” can be ambiguous, while “payment due within 30 days of the bill date” clearly communicates your expectations.
  5. Institute late fees.Without them, your patients may put off payment until a time that’s convenient for them but not for you.
  6. Offer positive incentives for early payment.Give patients a good reason to pay sooner than they normally would. An example might be 1-2 whitening syringes for payments received within two weeks of the bill date.
  7. Slow down on bills.Hold off on paying bills until they’re due. If you’re presented with a worthwhile incentive for early payment, by all means, take advantage of it. Try to pay electronically, you can schedule in advance and with precision.
  8. Periodic payments. Take advantage of periodic payment programs that are fee-free. For instance, small businesses withworkers’ compensation coverage can pay their premiums every time their payroll is run. Payments are based on actual payroll, eliminating the need for a large down payment, and carry no installment charges.
  9. Monitor your cash flow status on a weekly basis.Check off what’s been paid, what’s coming due and what’s late. Send reminder notices as necessary, and don’t forget to tack on your late fee.Continually measure cash flow to your BEP.

10.Get a CPA that is dental specific. A CPA can help guide you toward your financial goals and offer corrective action should you begin to veer off course. Taxes, of course, are part of the equation and ever-changing, making the aid of a professional essential. A dental specific CPA can help ensure you’re taking best advantage of the deductions that can benefit your dental business and help improve your cash flow.

#KLASSolutions #Cashflow #CPA #Monitors #BreakEvenPoint #Workerscompensation #dental #dentist

Amalgam Seperation-Anterior Quest

Nate Koster – Anterior Quest

Nate Koster is with Anterior Quest, the only 100% amalgam containment system in the US. I talked with him about practices we are working with that are preparing to retire in 5-7 years. We recommend doctors should always look at this system, however what happens when they retire? This is a regulatory item registered in the doctors name. He found the information I was requesting. Here is his response to me.

Phil, I was going through the amalgam rule today and came across this section… It just talks about the specifics of what to do when switching ownership of a dental practice. Thought it might be useful to you…

https://www.federalregister.gov/d/2017-12338/p-158

Anterior Quest and Nate Koster work hand in hand with the EPA. Their knowledge of amalgam separation is second to none. I give all of my clients this information when doing a Practice Assessment. KLAS Solutions strives to give you all the information needed for a successful practice. Contact me with any question at phil@klassolutions.com

#AnteriorQuest, #KLASSolutions, #amalgacontainment, #dentalpractice, #dentalconsulting, #PhilCole, #NateKoster –

PPO or Not to PPO….that is the question

After assessing numerous practices, one of the first questions I’m asked is “Should I stay in network with the insurance companies.” There is not a simple yes or no answer. There are three options. Fee for Service….no participation with any insurance company; In network with all insurance companies (PPO’s) or Partial enrollment. As some of the insurance companies are lowering their reimbursement which will affect your bottom line, it will be necessary to seriously consider your options. 

Fee for Service: Full fee and full payment. No write-offs and no negotiating. Patients come to see you, you diagnose, patients decide on treatment and you get paid 100% of fees charged. Sounds ideal but there are factors that must be taken into consideration. Your location, your competition, your patient base, patient demographics, timing, your fees and your vision for the practice,

PPO – sign up with every PPO….work twice as hard for half the money, use double the supplies and double the time in sterilization because you have to see double the patients just to meet your goals. Creates a chaotic atmosphere not to mention the lousy taste it leaves in your mouth. Pun intended. 

You can decide on ‘Partial participation’ with the insurance companies that have reasonable reimbursement. 

So how do you decide and where do you start? Know your numbers and know the demographics of your patient base. If you don’t know how to do it or what to assess, get someone to help you. I recently completed a ‘virtual assessment’ for a dentist who wants to drop a major insurance company that he felt “75% of my patients have”. 

After I completed his virtual assessment we were able to determine the true percentage of patients with the various insurance companies he was in network with. We also created a plan for when his practice can support dropping the major insurance company!! (who is once again lowering their reimbursement to the dentist!) Through the assessment, I determined there was major problems with their computer recare system, their TRUE active patient base along with other issues that would ‘kill’ their practice if he just dropped it. However, we were able to put a plan together to slowly drop the PPO’s over a certain amount of time so that it would not financially impact his practice or the patient base. This was a dream come true as he has not felt good about going to work for a long time…it wasn’t fun and he had lost his passion for dentistry. Teaching the administrative team effective scheduling techniques allowed the practice to limit the write-offs on a daily basis. Over time, this adds up to thousands of dollars. Through my assessment, I was able to look at the significant discounts, write-offs, freebies, family rates and adjustments given to the ‘fee for service’ patients that was also making a significant impact on the bottom line. 

Do your due diligence…know what you can do today to make an impact and have a plan to eliminate over time. 95% of the dental practices I work with complain about the write-offs, the PPO’s etc. but no one is doing anything to rectify the situation. It all starts with a plan. Stop complaining about all your write-offs and adjustments and take your practice back.

Nancy completes virtual and ‘on-site’ practice assessments to address your specific concerns about insurance participation, internal team stress, leadership concerns, incentives, policies, hygiene programs/liability, treatment coordinating, productive scheduling vs. a busy schedule, communication within the team and any other concerns you may have. You have to assess your patients in order to provide a short and long term treatment plan. Why aren’t you assessing your practice to have a short and long term business plan for the practice? Email us your concerns and do something about it. nancy@Klassolutions.com or info@klassolutions.com

#KLASSolutions #PPO #insurances #DeltaDental #Assessment #Dentist #dentalpractice #FeeforService

Insurance Negotiation

Many #corporate #practices rely heavily on #managed #care to operate at a high capacity.  Many of these corporations have been able to negotiate higher #reimbursement rates allowing for a #fee advantage to the #solo #practices.  Contact us on our #Insurance Maximization Plan and see how your solo practice can get the same fees. 844-552-7100 or info@klassolutions.com

 

Business Cards 101

 5 Basic Design Tips for Killer Business Cards

Here’s the first thing you need to learn in Business Cards 101: You need them. The so-called freelance economy is on the rise, and with it, orders for business cards. As we can personally attest, the demand for business cards has grown in the past generation in step with the growth of small businesses. Recent studies on the humanizing and tactile aspect of print materials have been holding up, giving businesses of all sizes incentives to invest in them. Creative professionals have also pushed the boundaries of this humble medium beyond what was thought possible just a few generations ago, breathing excitement into the design of business cards.  

Here we compiled five tips for creating killer business cards for freelancers and small businesses, especially those that may have less knowledge about design. Creative professionals are free to chime in too. Check out the tips below and let us know what else should be added to this business cards 101 module in the comments below.

1.) Use color for emphasis.

You might not have a lot of space on your business cards, but you can certainly still say a lot if you use colors wisely. Colors are rich with symbolism and offer a way to communicate moods and ideas that simply aren’t possible with just black and white. If your competitors use plain old one-color business cards, having well-executed colors on yours can be a marked advantage. You can use colors to help your business cards stand out, or to highlight specific parts of your cards’ design, most likely your brand, contact info, or a call-to-action. Just be sure that any use of color is on-brand and well-considered. Using the wrong color combinations or colors inappropriate for your brand can have the opposite effect of repelling would-be customers.

2.) Design with a purpose.

This can be said about any print material used for promotions or marketing, but for business cards this is even more important. You don’t have a lot of space on most business cards, so you want to dedicate most of the real estate you do have toward the specific goal you have in mind for your design. Many business cards fail because they try to do a lot of things at once, and excel at none of them.

If your intent is to make your card a showcase for your brand, then it should be highly centered around that concept. If you want it to simply be something that contains your contact details, make sure that everything is clear and laid out well. When you want your card to have multiple goals, work with a designer who can help you meet all of them. Just understand that with such a limited space to work with, something has to give. This is why some customers order business cards with different designs, each design optimized for a specific purpose.

3.) Use appropriate images.

This is highly dependent on the context of where your business cards will be used. You don’t want to include images simply because you think they’re cute or attention-grabbing. Sometimes, it might be more appropriate to have no images at all. You won’t have a lot of space for images on a typical business card, so if you do choose to include any, you want to make them count. If you’re printing your logo, it’s best to use vectors or high-quality rasters to prevent fuzziness and pixelation.

4.) Don’t use clip art or obvious stock images.

It’s possible that a good designer can make either of those elements work. But however you cut it, you will always be left with a business card that has design elements other businesses have used. We know that stock images and clip art can save us a ton of time. But the end result is invariably a card that is not only generic, but often quite laughable as well. “Worst design” rundowns are rife with print materials that use stock images and clip art in hilarious ways. If your brand means anything at all to you, it is worth taking the time to build something unique. Something that anyone can identify as yours and yours alone.

5.) Know what a business card isn’t.

Business cards work best as a personal handout, not for simply building awareness or for closing a sale. They’re best used when you’re there to physically hand them out and explain a few things about your brand. Business cards are also great when you give them to people who have signaled interest, but aren’t necessarily ready to buy anything yet. They’re not necessarily the best choice if you want to build awareness with a large number of people at once. That would be better served by posters, billboards, and other mass-marketing tools. They’re not the thing you should be giving out for closing a sale either. In these cases, you might be better off giving a catalog or a brochure.

A business card isn’t a sales sheet, or a brochure. It’s not even a flyer. Sure, you can put basically whatever you want into the space you have, but you should ask yourself if that’s what you want to do. Your audience will have expectations when they receive a business card. Sure, it can be useful to surprise them with a unique card. But we should also understand the limits of the medium.