Download Module 2 - Delmar Cengage Learning

PowerPoint® Presentation for
Dental Office Management
Module:
Financial Management
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
1
Module:
Financial Management
Financial
Management
Part A:
Appointment
Scheduling
Part B: Getting and
Spending
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
2
Module:
Financial Management
Learning Objectives
1. Define the Key Terms.
2. Identify the principles, goals, and strategies of
appointment scheduling.
3. Describe common expenditure categories.
4. Examine treatment codes in scheduling.
5. Summarize payroll procedures.
6. Discuss the manager’s role in supply inventory
and equipment maintenance.
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
3
Module:
Financial Management
Learning Objectives
7. Demonstrate budget-writing skills.
8. Simulate schedule problem solving.
9. Contrast and compare payment methods.
10. Differentiate types of patient insurance.
11. Devise security precautions for drug inventory.
12. Evaluate the impact of scheduling policies and
accounts payable/receivable on financial
management of a practice.
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Key Terms
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Automatic shipments
Backorder
Block/unit scheduling
Call list
Capitation
Cash on delivery
Coordination of
benefits
• Credit invoice
• Direct reimbursement
• Double-book
• Electronic claims
processing
• Electronic funds
transfer
• Embezzlement
• Fixed expenses
• Flagging system
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Key Terms
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Invoice
Overhead
Packing slip
Petty cash voucher
Purchase order
Rate of use
Reorder point
Responsible party
• Restrictive
endorsement
• Shelf life
• Signature on file
• Supplier/vendor
• Variable expenses
• Walk-out statement
• Warranty
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Part A: Appointment Scheduling
• Strategic goals:
– Production and profitability
– Quality of care and patient convenience
– Best use of dentist’s time and energy
• Basics:
– Blocking out the schedule
– Blocks/units of time
– Multiple bookings
– Treatment codes
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Scheduling Strategies
• Identify and screen:
– Special-needs patients
– Emergency patients
– Drug seekers
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Schedule a series of appointments
Confirm appointments
Manage late and no-show patients
Manage recall appointments
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Part B: Getting and Spending
• Accounts
receivable
• Accounts payable
• Supply ordering
• Inventory
management
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Income and Outgo
• Accounts
Receivable
– Managed care
– Third-party payers
– Coding
– Claims processing
and tracking
– Payment methods
– Collections
• Accounts Payable
– Invoices
– Expenses
– Office checking
account
– Other forms of
payment
– Payroll
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Third-Party Payment
Managed
care
Methods
of
payment
ECP
ADA
claim
form
Accounts
Receivable
One-Write
system
Claims
tracking
ADA
insurance
coding
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Patient Methods of Payment
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Cash
Personal check
Private label dental care card
Credit/debit cards
Direct reimbursement
Serial payment
Cycle billing
Finance plans
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Accounts Payable
• Distribution of money owed:
Writing and endorsing checks
Depositing money
Balancing the practice bank account
Reconciling bank statements
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Expense Categories
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Fixed expenses
Variable expenses
Personnel
Occupancy
Administrative
Equipment/furnishings
Clinical/dental supplies
Lab fees
Marketing costs
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Overhead Examples
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Rent or mortgage
Taxes
Payroll
Outside consultants
Supplies
Equipment
Dental laboratory bills
Utility
Parking
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Marketing
Insurance
Maintenance
Office cleaning
Association fees
Professional licensing
Incorporation fees
Miscellaneous
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Payroll Records and Reporting
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IRS tax guide
Employer identification number
Employee withholding allowance certificate
Employee earnings record
Payroll deductions and deposits
Federal unemployment tax
Wage and tax statement
Report of withheld income tax
Payroll and tax record retention
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Supplies and Inventory
Types of
supplies
Quantities
of supplies
Computer
ordering
and inventory
Managing Supplies
Quantity
discounts
Supply
order
tracking
Warranties
and repairs
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Supply Types and Quantities
• Quantity
• Types
– Consumable
– Disposable
– Expendable
– Equipment
– Shelf life
– Rotating stock
– Storage
considerations
– Rate of use
– Reorder point
– Flagging
– Controlledsubstance storage
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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Summary of Module
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Key Terms
Dental-assistant career paths
Dental team and office management
Dental patient record
ADA coding and the patient record
Appointment scheduling
Accounts receivable
Accounts payable
Practice supply management
Copyright © 2006 Thomson Delmar Learning. ALL RIGHTS RESERVED.
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