Recover Lost Revenue with Andrew Grover Cleveland – 015

Dentists! Financial freedom? Is that even a possibility?

Super hard to get it when you are owed money – and people aren’t paying you!

We need to get you paid – like 5 minutes ago.

Check out my interview with Andy Cleveland – the hardest working man in the accounts receivable space. Time to collect the moolah people owe you!

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Our podcasts are interviews between Justin Krane, Krane Financial Solution’s President, and various professionals, one or more of which are or have been Krane Financial Solutions clients. However, nothing stated within the podcasts should be considered a testimonial or endorsement of Krane Financial Solutions or Justin Krane, and the professionals have not been directly or indirectly compensated for being interviewed.

Our podcasts are interviews between Justin Krane, Krane Financial Solution’s President and various third-party professionals. Noting stated within the podcasts should be considered a testimonial or endorsement of Krane Financial Solutions or Justin Krane, and the professionals have not been directly or indirectly compensated for being interviewed.

Andy Cleveland, “The Dental Accounts Receivable Ninja”, has been in the patient revenue cycle space for over 20 years and has served a variety of capacities. He started working with dental practices on the collections floor motivating difficult patients to pay on everything from hygiene visits to full mouth restorations. Learning the business from the ground up, he developed a proficiency in recovering lost revenues and rose to the top of his field. He is a member of The Academy of Dental Management Consultants (The ADMC), AADOM, DEN Network and is a speaker and consultant that enjoys specializing in the dental field.
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Capturing Accounts Receivable

Every office has some type of balance in their AR – Doctors must face this issue.
The amount in AR will fluctuate based on the type of ownership.
Typically, insurance companies will owe more than the patients will.
If it takes you six months or more to collect from the insurance company – the patient’s balance becomes more difficult to collect.
Andy suggests running reports on a weekly basis, things will improve because your focus will be there.

Consider Something Different

Unless you have a superstar handling your AR, consider outsourcing your insurance billing.
You can save time and stress by outsourcing without taking away from the patient experience.
Staff members wind up ignoring patients or the phone because they’re dealing with insurance companies figuring out why the patient’s insurance claim wasn’t filed.
Instead, have the staff focus on serving the patients in the office while someone else handles the headaches.
Especially if you are going to sell in the next 3-5 years – Having a low AR will reflect positively with potential buyers.

Best Quotes:

“But getting your hands dirty really gave me a ground for up appreciation for the business.” (4:36)

“You’ve actually got to run it like a responsible business owner because these worlds, we are in unprecedented times that running a dental office is so much more complex than it was just five or 10 years ago.” (7:56)

“People should be looking at their ARR reports. If they’re not doing it daily, do it weekly … if not doing weekly, at least, satisfy yourself and look at it once a month. Because just by simply looking at it, it should improve.” (10:32)

“The older it is, the harder it is to collect. So if it takes you six months or a year to duke it out with an insurance company, that patient balance is pretty much uncollectable.” (12:51)

“The point is sometimes it makes sense to do things yourself. And sometimes it absolutely does not.” (14:37)

“TIf it takes stress off of you and it does not take away from the patient experience, you should consider outsourcing. Insurance is a no brainer to get out of your office.” (15:03)