I remember when my family relocated to a new city and I applied for a job at a dental practice closer to home. This practice had been open for a little more than a year and seemed to be thriving. However, as the months went by, I realized that this practice had no systems in place … and it was especially noticeable in the collections. After about three months, the doctor told me that that month was the first month since the practice opened that he was able to draw a paycheck. This was a collection problem. Over my 20 years of experience in the dental office, I have learned that collecting money is a task that all financial coordinators will master in their careers, but achieving cash flow is an even greater skill to master. We all strive to achieve a collection rate of 98% of our production so when we have that monthly team meeting to review the numbers, we can sit glowing at our accomplishment. However, as a practice owner, improving the cash flow can be a much bigger achievement. It is vitally important for every dental practice to create systems that will significantly improve cash flow, even if collections aren’t increased.
Dayna loves her work. She has over 25 years of experience in the dental industry, and she’s passionate about building efficient, consistent, and secure practice management systems. Dayna knows that your entire day revolves around your practice management software—the better you learn to use it, the more productive and stress-free your office will be. In 2016, Dayna founded Novonee ™, The Premier Dentrix Community, to help cultivate Dentrix super-users all over the country. Learn more from Dayna at www.novonee.com and contact Dayna at firstname.lastname@example.org.