Dentists face a very high likelihood of being stiffed by patients as compared to other medical professionals, according to DentistryIQ.com columnist Clint Sallee.
One dentist to the stars, Dr. Craig Gordon, recently took matters into his own hands and possibly set a unique dental collection precedent after his patient, reality star Kim Kardashian, ran out on her bill for porcelain fillings, according to celebrity news website, tmz.com.
“Since many dentists are willing to give their patients the benefit of the doubt, they often find themselves in the precarious position of spending additional resources trying to collect what they’re rightfully entitled to,” said Sallee, the president of Fidelity Creditor Service in a recent article.
According to the aforementioned financial expert’s suggested guidelines for effective collections management, let’s review what Dr. Gordon has done right.
* Tip 1: Know your patient. For good measure, get a photocopy of a picture identification so there can be no doubt that the person you provided services to is the one who owes.
When Ms. Kardashian not appear for their 2012 court date, Dr. Gordon, according to a lawsuit paperwork, earned a default judgment for $1,605.73. Let’s assume due diligence based on Dr. Gordon’s success in the court of law.
* Tip 2: Once services are provided, look for ways to accelerate your collections process. Don’t be bashful about making calls, leaving voice mails, or sending text messages.
Dr. Gordon unsuccessfully attempted to impede his patient’s divorce proceedings until she paid the judgment, according to published reports. Safe to say he’s persistent.
* Tip 3: Once you have exercised reasonable effort and been unable to create the desire result, you should consider your options and act decisively. If a patient becomes unresponsive, or is otherwise unreachable, escalate the account quickly.
After futile efforts to collect the debt, Dr. Gordon, according to celebrity news website, tmz.com, is trying to sell his judgment to the highest bidder. Sounds decisive.
* Tip 4: Generating bills is important, but receiving the revenue is the most critical step.
With accumulated interest, the judgement against Kardashian totals $3,486.85. Dr. Gordon is offering the note to the highest bidder. According to the celebrity website, based on the assumption the patient will pay with a signed check, its “collectible value” might earn the doctor $13,000, or so he hopes. This practitioner stands to collect nearly four times his due, and a bit of publicity (loosely based on the concept that all publicity is good publicity).
* Summation: In a membership survey recently conducted by the Commercial Collection Agency Section of the Commercial Law League of America showed that after just three months, the likelihood is that a dentist will collect only about 70 cents of each dollar owed. After six months, that figure drops to 50 cents, and after a year it shrinks to 23 cents, according to the survey Sallee cited in his column.
Not for Dr. Gordon – if he collects. Verdict still out on this one.
Kristie Ceruti • July 14, 2014
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