965: The Solution to Overdue Accounts – Robyn Theisen

Do too many of your patients owe you money? It’s a symptom of an even bigger problem! In this episode, Kirk Behrendt brings back Robyn Theisen, one of ACT’s amazing coaches, to break down overdue accounts and share a four-step solution to eliminate it from your practice. To learn how to collect from patients before day 30, listen to Episode 965 of The Best Practices Show!

Learn More About Robyn:

• Send Robyn an email: robyn@actdental.com 
• Follow Robyn on ACT’s Instagram: https://www.instagram.com/actdental
• Send Courtney an email to learn more about ACT: courtney@actdental.com 

More Helpful Links for a Better Practice & a Better Life:

• Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
• Join The Best Practices Association: https://www.actdental.com/bpa
• Download ACT’s BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360
• Download ACT’s BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_US
• Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
• Get The Best Practices Magazine for free: https://www.actdental.com/magazine
• Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

• Watch the video version of Episode 965: https://www.youtube.com/@actdental/videos
• Register to ACT’s BPA to watch Episode 764: Cash Flow Kings and Queens: The Dentist’s Guide to Mastering Accounts Receivable: https://join.actdental.com/users/sign_in?post_login_redirect=https%3A%2F%2Fjoin.actdental.com%2Fc%2Fpodcasts%2F764-cash-flow-kings-and-queens-the-dentist-s-guide-to-mastering-accounts-receivable-ariel-juday#email
• Register to ACT’s BPA for their Managing an Accounts Receivable and Collections System: https://join.actdental.com/users/sign_in?post_login_redirect=https%3A%2F%2Fjoin.actdental.com%2Fc%2Fpractice-coaching-tools%2Fmanaging-an-accounts-receivable-and-collections-system#email
• Register to ACT’s BPA for their Sample Financial Arrangement Form: https://join.actdental.com/users/sign_in?post_login_redirect=https%3A%2F%2Fjoin.actdental.com%2Fc%2Fpractice-coaching-tools%2Fsample-financial-arrangement-form#email

Main Takeaways:

• A balance past 31 days is overdue. Address it ASAP!
• Be proactive. The older the balance, it’s harder to collect.
• Have a strong financial policy so patients know what to expect.
• You can't fix what you don't measure. Be sure to know your numbers.
• Document a system and create a plan. Otherwise, you're being reactive.
• Work the plan you created. If you don't implement them, they're sure to fail.

Snippets:

0:00 Introduction.

3:32 Overdue accounts, explained.

5:22 Have a strong financial policy.

9:19 Know your numbers.

14:57 Document a system and create a plan.

17:45 Work the plan.

24:00 Final takeaways.

Robyn Theisen Bio:

Robyn Theisen brings an entire life and legacy of dental experience to the team and every team with which she works as the daughter and sister of dentists. With almost 20 years of experience in dentistry, her roles ranged from practice management to operations at Patterson Dental to coaching teams. Robyn’s passion is empowering teams to realize that they can dramatically impact the lives of the people they serve by implementing skills and systems to remove barriers to life-changing dental treatment. She has done it for decades and does it every day with dental teams.

Outside of coaching, she enjoys time with her husband, Rob, and two daughters, Emerson and Ruby. She loves traveling, music, fitness, and cheering on the Michigan State Spartans.