Academy of Financial Coordinators – Course Outline

Academy of Financial Coordinators – Course Outline

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