The topics listed below are covered in the Academy of Financial Coordinators program.

1. Financial Coordinator Role & Defining Production

• Understanding job description and how to work as a team with Treatment Coordinator
• Analyze gross production vs. net production
• Identify distortions to production figures
• Learn the basics of engineering production to drive practice goals

 

2. Defining Adjustments, Collections, & Accounts Receivable

• Identify definition and distortions to adjustment figures and where certain types of charge adjustments belong
• Review collections definition and distortions to this that may occur within software
• Examine definition of and overall health of accounts receivable with regards to small balance accounts, zero balance accounts, and maintenance of credit balances

 

3. Calculations, Goals, & Practice Metrics

• Define orthodontic financial ratios used for benchmarks and corresponding goals
• Calculate orthodontic ratios using sample practice figures and revise to account for distortions discussed in Chapter II
• Calculate patient and insurance delinquency and respective goals
• Understand appropriate timing to measure practice metrics and draw comparisons

 

4. Financial Office Policies

• Discuss some do’s and don’ts of what to include in financial contracts
• Determine best practices for auto payments including appropriate due dates
• Identify policies to encourage timely payments (i.e. statements, late fees)
• Understanding flex contracts and dual responsible party contracts
• Strategize the verification of insurance benefits
• Interpret the role of the patient history form in financial arrangements

 

5. Financial Arranging Theories and Philosophies

• Discuss risk management in other industries and how an orthodontic practice can mitigate financial risk in traditional or new ways
• Illustrate financial arrangement metrics, philosophies, and tracking mechanisms to help balance sales and cash flow
• Review FAQs regarding financial arranging goals and their derivation
• Review specific financial arranging calculations to present “win-win” situations to new patients

6. Patient Delinquency & Collection Activity – Part 1

• Calculate patient delinquency accurately and make corrections for possible distortions
• Organize the patient delinquency workload based on age of accounts and time required
• Understanding certain federal guidelines which govern collection activity
• Review the basic intervals to consider when utilizing different methods of collection activity

 

7. Patient Delinquency & Collection Activity – Part 2

• Understanding the components of collection calls and scripts
• Learning the tone and intent of collection letters
• Mixing the various collection tools for effective resolution of delinquency

 

8. Hot Button Patient Receivables Issues

• Strategize on renegotiating past due accounts
• Understand your options when all avenues of collections have been reached
• Discuss patients who transfer out or require discontinuance of treatment, the appropriate calculations to adjust their ledger, and necessary correspondence
• Define policies for handling patients who have lapsed with appointment cooperation and the separation required from the financial discussion

 

9. Intro to Insurance Receivables

• Review policies such as accepting assignment, participating in plans, and secondary insurance
• Identify pros & cons of different insurance filing strategies
• Understand how to set up insurance ledgers initially to create triggering mechanisms for delinquency control

 

10. Insurance Receivables Part 2 – Accounting of Insurance

• Calculate insurance delinquency accurately and make corrections for possible distortions
• Organize the insurance delinquency workload
• Discuss ongoing insurance ledger maintenance required to reflect accuracy in insurance delinquency and receivables