How to Increase the Cash Flow in Your Private Practice in 30 Days

If you have a busy private practice, chances are you also have pockets of cash lying around available for the plucking. It simply hasn't been collected yet, and may even have been overlooked. Here are 10 ways to increase your cash flow over the next 30 days.

Collect at the Time of Service

Include in your upfront discussions your expectations on payments. Establish that you are paid at the time of service. For services where payment plans are appropriate (for example, payments at key milestones), be clear from the start as to your expectations, then include them as part of your written agreement.

Step-Up Your Invoicing

There is really no reason to wait until the end of the month to bill, or for that matter, the end of the week. Get your invoice into the mail the day you provide the service. That includes insurance billings.

Follow-Up on Late Payments

Clients can get into the habit of paying late ? 30, 60 or even 90 days ? if they know that you will tolerate it.

Outsource Delinquent Payments

Payments that are overdue by 90 days are more than just "late". They are delinquent. Outsource these receivables and don't let them occur again.

Follow-Up on Potential Appointments

Do you have clients who "intend" to schedule an appointment but haven't called yet to do so? Perhaps they left your last meeting with a sincere intention to call back, or maybe whenever you see them they say "I've been meaning to call?" Call them now and get them on your appointment schedule.

Finish the Project or Service

Sometimes, all that's between you and a check is finishing the project, mailing the report, getting the signature or conducting that last routine visit so you can bill for it.

Re-Visit Your Appointment Scheduling Procedures

If you are one of those offices that routinely schedules the next appointment two weeks to four weeks away ? why? Eliminate time lapses. If you can handle everything in one visit ? and if there is no good reason for not doing so ? do it. If you need to have two or more separate appointments to finish providing the service, schedule them as close together as possible. It will keep the momentum going with the project?and make your billing date sooner.

Handle Appeals and Requests for Reviews Weekly

Sure, these things take time and talent to handle properly, but putting them off for weeks just delays your income from a service that's already been provided.

Consider Down-Payments

Retainers, down-payments or other forms of upfront payments can boost your cash flow while securing a real commitment from your client to follow-through with the full service to which they have agreed. And don't forget to collect your co-pays at the time of service.

Promote Your Products

If you have a product that you make available to your clients, don't keep it a secret. Display it, talk about it, recommend it and, where appropriate, use or demonstrate its use during the visit. This goes for everything from dental care kits to nutritional supplements, to office supplies, special workbooks, kits, tools, books, forms or any other product that you sell.

Tighten Your Financial Policies

Use these ways to increase your cash flow, and while you are at it, go ahead and tighten your financial policies so that these things become the norm. Pockets of cash lying around don't add to your bottom line. You have to pick them up in order to count them in?or to spend them.

For more articles like this on Marketing and Business Development for your private practice, visit the Private Practice Marketing Roundtable at http://www.privatepracticemarketingroundtable.com.

About the Author

Dianne E. Dawson, M.A., has worked with business owners worldwide to develop and implement strategies to bring in new clients and to increase business profitability.

She works with self-employed professionals who believe that their private practice has reached a plateau ? it's stuck! ? and what they really want is to make their business "top of mind" and achieve greater profits and financial reward. She can be reached at http://www.privatepracticemarketingroundtable.com.

You may download free Marketing Strategy Tools to grow your business when you visit the Private Practice Marketing Roundtable.

disinfecting cleaning services Arlington Heights ..
In The News:

Malicious Chrome and Edge extensions collected browsing history, keystrokes and personal data from millions of users before Google and Microsoft removed them.
Google's new Call Reason feature lets Android users mark calls as urgent before dialing, displaying an urgent label to recipients using Phone by Google app.
Medical history made as surgeons successfully restore sight to legally blind patient using world's first 3D printed corneal implant grown from human cells.
Data brokers aggressively collect your holiday shopping data to fuel scams and targeted ads. Learn how to delete your digital profile before 2025 starts.
Scammers are sending fake MetaMask wallet verification emails using official branding to steal crypto information through phishing links and fraudulent domains.
Learn what background permissions, push notifications, security updates, auto-join networks and app refresh mean to better manage your phone's privacy settings.
Criminals test stolen data by applying for deposit accounts in victims' names to prepare bigger attacks. Learn why banks won't share fraud details.
New study of 10,500+ kids reveals early smartphone ownership linked to depression, obesity, and poor sleep by age 12. Earlier phones mean higher risks.
A phone phishing attack compromised Harvard's alumni and donor database, marking the second security incident at the university in recent months.
AutoFlight's zero-carbon floating vertiport uses solar power to charge eVTOL aircraft while supporting emergency response, tourism, and marine energy maintenance.
A new phone return scam targets recent buyers with fake carrier calls. Learn how criminals steal devices and steps to protect yourself from this fraud.
New Anthropic research reveals how AI reward hacking leads to dangerous behaviors, including models giving harmful advice like drinking bleach to users seeking help.
The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.
Holiday email scams, including non-delivery fraud and gift card schemes, spike in November and December, costing victims hundreds of millions, the FBI says.
Holiday visits offer the perfect opportunity to help older parents with technology updates, scam protection and basic troubleshooting skills for safer digital experiences.
Swiss scientists create grain-sized robot that surgeons control with magnets to deliver medicine precisely through blood vessels in medical breakthrough.
Researchers exploited WhatsApp's API vulnerability to scrape 3.5 billion phone numbers. Learn how this massive data breach happened and protect yourself.
Travel companies share passenger data with third parties during holidays, but travelers can protect themselves by removing data from broker sites and using aliases.
Xpeng's humanoid robot moves so realistically that crowds believed it was fake, marking a major advancement in robotics technology ahead of 2026 commercial launch.
Researchers discover phishing scam using invisible characters to evade email security, with protection tips including password managers and two-factor authentication.
iPhone and Android users can reduce battery drain and data usage by restricting Background App Refresh to Wi-Fi connections instead of mobile networks.
Scammers nearly stole an Apple account by exploiting the support system with authentic-looking tickets and phone calls, users can protect themselves with safety steps.
FoloToy restored sales of its AI teddy bear Kumma after a weeklong suspension following safety group findings of risky and inappropriate responses to children.
Threat intelligence firm Synthient uncovers one of the largest password exposures ever, prompting immediate security recommendations.
Viral video shared by Elon Musk shows Tesla's Optimus humanoid robots performing tasks from cooking to construction, garnering over 58.5 million views on social media.

The Perilous Franchise Agreement: What Did You Sign?

Purchasing a franchise has become one of the most popular... Read More

Launching your Business with a Chamber of Commerce

Why are Chambers a good launching pad?Chambers provide you with... Read More

Accounting Methods ? Cash and Accrual

When starting a business, you have to determine the method... Read More

How to Compete with the Big Guns?!

Many small business startups fail within the first 2 years... Read More

Debt Collection Techniques

Here are some sound debt collection techniques that can be... Read More

Bogus Investor and Consumer Complaints and Consumer Misrepresentation

Like most regulatory bodies in the United States, the Federal... Read More

Perfecting Your Pitch

Why should you describe your business to others in 5... Read More

Understanding Franchise Releationships in a Franchised Business

Now that you have invested your time, energy and money... Read More

Reaping the Rewards of Cost Cutting

In these days of insecurity and uncertain futures, the tendency... Read More

How to Profit from Business Consulting Opportunities

Business consulting opportunities might be just what your are looking... Read More

Secrets of Cleaning Truck Trailers in Your Fleet from a Veteran Truck Washer

Cleaning the trailers towed by big trucks is not easy,... Read More

What Is YOUR Value Proposition?

Every company has a value proposition. That is a statement... Read More

Starting is the Hardest Part

You can't imagine how many people ask me how I... Read More

Doing Business With Friends: Five Tips for Preserving the Friendship... and Your Sanity!

My colleague, Jane, recently lamented to me an all too... Read More

Eight Ways To Improve Your Companys Cash-Flow ? TODAY!

Cash is the lifeblood of any business. As humans need... Read More

Small Business Failures in America - Cash Flow Issues

We are noticing an increase in the length of time... Read More

Big Successes Never Happen Overnight

Treat your business as a serious, full-time business and be... Read More

Small Business Support Equals Survival

Support is critical for your small business survival. You may... Read More

Small Business Owners - They Owe You The Money Why Dont They Pay?

Doesn't it frustrate you when you've given good service, sometimes... Read More

Who Makes the BEST Business Partner

How do you find the best business partners?Finding a good... Read More

Naming Your Business: 3 Tips To Ensure Success

If you are just starting your business, or if you... Read More

Starting an Aircraft Washing Service

To wash an airplane there are many items you will... Read More

How To Choose A Franchise

You'd like to go into business for yourself, and believe... Read More

Buying a Franchise

Buying a franchise is not for everyone. This guide will... Read More

Building A Business That Works For You

Before you want to build your business, you need to... Read More

bathroom cleaning service Mundelein ..