Don’t leave it too late

The billing and collection side of running the private practice business needs to be well organised to ensure good cash flow – and good cash flow determines the success of most businesses.

Follow Gary Nials’s check list of things to do to make sure the practice’s billing and collection is efficient. If any of these are not followed in your practice, then there is a good chance your cash flow will be hit.

£ Send out the invoice promptly

There is nothing new in highlighting the fact that people often delay paying invoices for as long as possible.

Logic therefore follows that the sooner you get the invoice in the patient’s hand, the sooner it is likely to be paid.