Crush Patient Collections

Doctor offices are the last paid. The healthcare system is screwed up.

EYE ROCK IT

Your collections systems for the office need to be defined, firm, and your patients should know you are serious about receiving payments in a timely fashion

  • The process to collect money from patients before exam, after exam at front desk, and after patient leaves the office is very clear cut.
    • Insurance makes it seem like a puzzle, don’t let it.
  • You should have digital apps and tools to make your procedures to collect seamless.
    • Insurance verification to determine coverage should be at the click of a button before patient arrives
      • Deductibles
      • Copays
      • Active coverage
    • Insurance estimation tool to determine what patient pays after write offs
      • Collect now, bill the remaining portion later, or give a credit
  • Have procedures in place to talk to patients about their deductible they haven’t met
  • Always request at least half to cover your costs of goods
  • It’s better to just ask for full payment with confidence.
  • Monthly statements must go out on time every month to let patients know you are serious about collections. Any delays and patients forget they even received a service or product.
  • Have these statements professionally printed and mailed from a 3rd party
    • Your time is valuable
    • Don’t waste time printing, folding, stamping, mailing
  • Prevent bad addresses by using software to update people who moved
  • Send e-bills through email for increased collections and receive payments online
  • These are not patients you want in your practice
  • Do this on quarterly basis
  • Patients need to know you are serious about receiving payments for services and products you rendered
  • If you have the right person in house who has the gift for asking for money, you can try collecting 1-2 times before sending to collections.

Aug 10 @ 08:30 PM Eastern Time