Dental Bites: Practice collections climb to 94.3% in 2014

Collections up 3% from 2013.

Content Dam Diq En Articles 2014 12 Dental Bites Practice Collections Climb To 94 Percent In 2014 Leftcolumn Article Thumbnailimage File
Dental practice collections climbed to 94.3%, according to a figures released from the Dental Economics / Levin Group Annual Practice Research Report. This is a 3-point increase from last year’s survey score of 91.3%.

Analysis from Roger P. Levin, DDS: "We recommend practices collect 99% of all fees. The closer practices can get to this target, the more profitable the practice will be. Think of it this way … In an office generating $500,000 in revenue, for every 1% not collected, the practice loses $5,000. In the new dental economy, dentists have to do more with what they have. By improving collections even a few percentage points, practices can harvest additional revenue from services already provided."

Source: Levin Group Data Center

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