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Patient Payments Blog

Retirement Math For Doctors

Posted by Jim Turner

Apr 26, 2018 8:37:00 AM

Doctors spend a decade (some more, some less) learning to be doctors. They may spend another decade (or more) paying off the loans they took out to learn to become doctors. The investment they make to become doctors is in truth, a life investment. For most, everything in their life revolves around patients and how better to treat them. In return, they often treat patients who will never pay them for their work. That’s tragic, and avoidable.

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Topics: Patient Payment Policies, practice management, Lost Revenue, physician vacation, Doctor Retirement, Physician Retirement

[Guest Post] 5 Reasons Healthcare Marketing Dollars are Wasted

Posted by Lonnie Hirsch

Apr 12, 2018 8:19:00 AM

More marketing dollars are wasted due to poor planning (or failure to plan at all) than for any other reason.The most common reasons for wasted marketing dollars include:

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Topics: Practice Marketing

“Patient’s Aren’t Likely To Pay Medical Bills Greater Than 5% Of Their Household Income”: And What That Means For Your Practice

Posted by Jim Turner

Apr 5, 2018 8:27:00 AM

Research from The Advisory Board Company has shown patients aren't likely to pay medical bills greater than 5 percent of their household income. (https://www.advisory.com/daily-briefing/2016/02/26/even-with-aca-some-hospitals-face-bad-debt)

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Topics: medical practice management, Patient Engagement, High Deductible Challenge

Deductibles A Key To Assessing Tendency To Pay

Posted by Jim Turner

Mar 29, 2018 8:17:00 AM

Do you know your patient’s deductibles and how much they’ve paid toward them before you treat them? If not, you may be missing the most important key to determining if they will pay your bill.

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Topics: medical practice management, High Deductible Challenge, Patient Payment Policies, Medical Office Administration, Financial Policy, Deductibles

[Quick Read] Patients Pay When They Are Happy With Your Business Office

Posted by Jim Turner

Mar 23, 2018 8:07:00 AM

Funny thing about people. When they are happy with your service, they don’t mind paying for it. When they are dissatisfied, they will delay or refuse payment by a much greater percentage. Check out the graph below.

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Topics: Patient Payments, Patient Payment Policies, Patient Collections Culture, Medical Office Administration, practice management, Patient Satisfaction, Pricing Transparency

What Causes Your Patients The Most Stress? And The First Step To Relieving It.

Posted by Jim Turner

Mar 15, 2018 8:37:00 AM

For some of your patients it’s their health, that’s why they are your patients. But for up to 75% of your patients it’s MONEY.

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Topics: Patient Centered Care, practice management, communication, accounts receivable, Stress, Ideas

Why Doctors Making Loans Is A Bad Idea

Posted by Jim Turner

Mar 9, 2018 8:47:00 AM

I’m seeing more and more encouragement, no, insistence that doctors are going to have to get into the loan business. I’ve read two articles in the past two weeks that specifically target the need for doctors to finance patient payments. Many others allude to the need. Some of them are as simple as creating payment plans all the way to actually financing the care with a loan contract. One product site I ran across says straight up – ‘Hospitals are now Banks, too.’

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Topics: HDHP, Past Due, Payments, Financial Policy, Loans

Invitation To A Fireside Chat: A/R Reduction And Payment Success

Posted by Jim Turner

Mar 1, 2018 8:47:00 AM

Join us at HIMSS18 for a fireside chat! Dave Crooks, president of Easy Pay Solutions, will be speaking at BOOTH # 3610 in conjunction with our partner Aprima! 

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Topics: Medical Office Administration, practice management, Medical Billers, HDHP, Past Due, Payments, Financial Policy, Benefits

Free PDF DownLoad: Card-on-file Collections Scripts

Posted by Jim Turner

Feb 22, 2018 8:37:00 AM

Past due patients are hard to reach. Once you do you must make the best of the call. If you have a card-on-file system, you have the power to take control of the collections process in a patient friendly way. We have developed simple questions (scripts) to help you maximize every contact with past due patients. Download the PDF by clicking on the graphic. The link will take you to the download page. 

 

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Topics: healthcare payments, Patient Balances, Credit Card On File, accounts receivable, Payments, Back Office Tips, Scripts, Financial Policy

You Really Are Important: Thank You for Showing Up!

Posted by Jim Turner

Feb 16, 2018 7:47:00 AM

 

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Topics: Thank You

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