CFI: Modern Solutions for Effective Financial Management

Michael D. Brown, CEO and President, CFI

Today’s practice owners are tasked with playing dual roles – healthcare provider and business owner. However, discussion of the latter often takes a backseat to care, forcing many practitioners to learn own their own how to run their practices successfully.

While training on new procedures and best practices for improving clinical skills is paramount, the art of running a business is not as commonly covered in traditional schooling or continuing education courses. Ultimately, the need for education became highly apparent in 2020.

Restrictions put in place due to the COVID-19 pandemic left medical and dental practices across the country in survival mode. It served as a true wake-up call for many to take initiative and implement new management styles and affordable technologies to not only endure but to best equip them for future prosperity.

With the recovery period still underway, the need to assess the financial health of one’s business – and identify new ways to generate revenue – is vital.

After all, financial literacy is key to the future profitability of any business.

Our best-in-class software provides practice owners the opportunity to extend their patient care to the payment process by providing patients with a compassionate way to fulfill their financial obligations,” said Michael D. Brown, CEO and president of CFI.

Today’s practitioners are looking to leverage new, affordable technologies that enable them to provide more comprehensive and accessible healthcare – all while enhancing practice profitability.

CFI’s innovative, cloud-based technology solutions make healthcare more accessible and affordable for patients, while still improving efficiency and reducing costs for providers.

“Our best-in-class software provides practice owners the opportunity to extend their patient care to the payment process by providing patients with a compassionate way to fulfill their financial obligations,” said Michael D. Brown, CEO and president of CFI.

By offering payment options through Compassionate Finance™, CFI’s high-tech, mobile payment solution platform, practices can help patients afford their dental care during times of economic downturn while also providing a new monthly revenue stream for the practice.

After all, recurring monthly revenue is the most important key to financial stability.

“Payment plans create a win-win by allowing for reoccurring payments with interest to help set a business up for long-term financial growth, while also ensuring patients receive necessary procedures that may have previously been cost-prohibitive,” said Brown.

Additionally, private practice owners typically face the same problem of severely delayed and uncollectible “patient pays.” In today’s technology-driven world, paper bills are often an inconvenient and ineffective means, and doctors are oftentimes forced to send to send these cases to collections which is not good for the practice – or the patient.

CFI’s Abella™ solution allows practices to forego sending out cumbersome, expensive and forgettable paper bills in the mail and instead provide a modern way to keep track of accounts receivable.

CFI’s Abella^™ solution allows practices to forego sending out cumbersome, expensive and forgettable paper bills in the mail and instead provide a modern way to keep track of accounts receivable. Abella can drastically improve operational efficiency for private practice owners while reducing costs and enhancing the patient experience.

With Abella, doctors can send electronic bills to their patients over text or email, reducing the operational costs associated with standard billing procedures. These bills are customizable to each doctor’s office and provide friendly, convenient reminders to patients of balance owed. Additionally, patients can pay entire balances at once or select a payment option allowing them to pay their bills over time.

CFI’s Abella software platform has already been adopted by some of the largest DSO networks in dentistry because it offers the organizations and their finance departments greater visibility over the process to ensure the effectiveness of the service.

At the end of the day, when it comes to operations and overall profitability, practice owners have the power to align their financial goals, improve operational procedures – and ultimately – provide better care for patients in need.

For it is only after you learn about your options, establish new protocols, and implement the proper technology solutions that you can fully offer the care your patients deserve.

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Company
CFI

Headquarters
Grapevine, TX

Management
Michael D. Brown, CEO and President, CFI

Description
CFI’s innovative, cloud-based technology solutions make healthcare more accessible and affordable for patients, while still improving efficiency and reducing costs for providers. CFI’s Abella^™ solution allows practices to forego sending out cumbersome, expensive and forgettable paper bills in the mail and instead provide a modern way to keep track of accounts receivable. Abella can drastically improve operational efficiency for private practice owners while reducing costs and enhancing the patient experience. With Abella, doctors can send electronic bills to their patients over text or email, reducing the operational costs associated with standard billing procedures

CFI: Modern Solutions for Effective Financial Management

Our best-in-class software provides practice owners the opportunity to extend their patient care to the payment process by providing patients with a compassionate way to fulfill their financial obligations,” said Michael D. Brown, CEO and president of CFI.

CFI’s Abella™ solution allows practices to forego sending out cumbersome, expensive and forgettable paper bills in the mail and instead provide a modern way to keep track of accounts receivable.