7 tips for retooling patient collections
TRANSCRIPT
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7 Tips for Retooling Patient CollectionsKarenZupko & Associates, Inc.Chicago, IL
[email protected](312) 642-5616
www.karenzupko.com
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WWW.KARENZUPKO.COM
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Deductibles Are SoaringMore than 25% of the
commercially insured have
High Deductible Health Plans.
The higher the deductible, the
less chance a patient will pay
their full portion of the bill.
Requiring even a modest pre-
payment can reduce this
financial risk.Source: Minimizing Bad Debt: Point of Service Collections,
The Advisory Board Company, August 21, 2015.
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1. Revise financial policies.
• Collect up front - collection at time of
service details.
• Ask for pre-surgical
deposits.
• Switch from reactive
patient statements,
to proactive, recurring
auto-payments by credit card.
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Let me enter in
your services,
and other info
here…
Good news, Mrs.
Jones, your
insurance covered
everything except
$186.00.
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2. Use payment technology tools.
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3. Ask! [Many practices don’t.]
“The charges for
today are
$456.50. Your
financial
responsibility is
$258.25. Would
you like to pay by
credit or debit
card or by check?
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4. Train, train, train your staff.
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On-site & virtual staff training
Scripts, role playing, & customer service techniques
KZA Offers Point of Service
Collections Training
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5. Demystify costs for patients.
Calculate patient responsibility for them.
Explain coverage and benefits.
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For a small fee, the
balance is off your
books and in the bank in
2 business days.
6. Offer Patient
Financing Options
CareCredit.com
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7. REJOICE when signing refund
checks!
“It’s much better than
turning patients over
to collections.”
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KZA is a consulting and education firm that has been helping physicians
increase revenue, optimize efficiency, reduce risk, and improve the patient
experience for more than 30 years.
We specialize in practice management, revenue cycle improvement, and
coding and documentation review. Our education and training programs
teach physicians and staff how to code correctly, manage effectively, and
maintain a successful and profitable practice. Our team has deep
expertise in the operational and strategic challenges that practicing
physicians face every day.
KZA is known for its significant knowledge of surgical specialties, including
orthopaedics, otolaryngology, neurosurgery, plastic surgery, general
surgery, and vascular surgery. We also work with dermatology,
interventional pain, and critical care providers.
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About KarenZupko & Associates
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KarenZupko & Associates, Inc.
Contact us to learn more about:
POS Collections Training
Practice Evaluation
Revenue Cycle Assessment
Coding & Documentation Training
Coding and Documentation Review
(312) 642-5616 - www.karenzupko.com