Your Collections Are Telling You Something. Are You Listening?

I was working with a practice that noticed their insurance claims aging over 90 days were growing.

They knew something wasn't right.

When they investigated, they discovered something they weren't expecting.

There was a software glitch, and patients were receiving insurance checks that should have been going to the office.

The dentistry had been completed. The claims had been submitted. But the practice wasn't receiving the money as expected.

The bigger lesson wasn't the software glitch.

It was how long the problem had an opportunity to grow before the trend got someone's attention.

Production doesn't tell the entire story

As a practice owner, you may have strong production on paper.

But I also want to know:

What are you collecting?

And I want you and your office manager reviewing that information frequently enough to notice when something changes.

If insurance aging starts climbing, don't wait until it becomes a large problem.

Ask why.

Your KPIs should create conversations

Reviewing KPIs isn't about pulling a report and checking a box.

Use your numbers to ask:

What changed?

Why did it change?

Is this an isolated situation or a trend?

Is one of our systems breaking down?

Who is going to investigate?

Then determine when you're going to look at it again.

The purpose isn't blame.

It's visibility.

When you and your office manager have a regular cadence for reviewing collections and other important KPIs, you give yourselves an opportunity to spot something earlier and respond.

Your numbers are communicating with you.

Make sure you're listening.