Action Steps for Billing After the Fact Dealing with patient billing and collections is among the top everyday challenges for many practices. Minimizing these challenges and improving cash flow should be a top priority for every billing and collection department. By establishing policies and procedures, efficiency and consistency are implemented in the steps necessary to…
Collecting Patient Balances
In Person vs. Calling There are times when patient balances must be collected after the fact. While not ideal, circumstances sometimes dictate that we must call patients who are no longer under care to ask for payment. While not completely unpleasant, as they do owe the money, nobody likes to be a bill collector. Notwithstanding…
Let’s Collect those Balances!
In this mini-class, Kathy walks you through how to clean up your Accounts Receivables and create a statement process. You see the actions to take at 30-, 60-, 90-, and 120-days overdue intervals and explore the best practices you can apply for success.
Payment Plans vs. Pre-payment Plans
A pre-payment plan may seem like an even more advantageous option than a monthly payment plan—the provider gets his/her money up front and eliminates the worry over whether s/he will be paid. While there are some advantages to a prepayment plan, advance payment can also be a quagmire of potential problems. This ‘conversational style’ training…
Pre-payment Plan Precautions
The Good, the Bad & the Ugly For decades, practice management companies and coaches have suggested that when patients pre-pay financial obligations to the practice, it somehow results in greater retention. Unfortunately, collecting for services in advance can easily run afoul of compliance regulations and Medicare rules. Positive Aspects A segment of the population wants…
More Cash & Less Effort with Automated Payments
Improve Collections & Patient Retention When a practice automates its payment plans, it helps minimize insurance dependence, increases cash collections, and boosts patient retention. Implementing payment plan principles leads to collecting more cash than ever before with less effort. Automated payment plans have proven to reduce the number of patients failing to follow through with…