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Patient Payments Blog

Patients Expect More: Upgrade To Stay On Top

Posted by Jim Turner

Jun 7, 2018 8:47:00 AM

We live in a world of apps and auto bill pay. Want a coffee? Order and pay for it on your app, walk in and it’s waiting for you with no further interaction. Not good at remembering to pay your water bill? Don’t like paper bills and writing checks? Set up an auto-pay and forget it. What about mortgage, car, insurance, cable, Netflix, or a thousand other things? A vast percentage of Americans chose to make all these payments automatically.

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Topics: Medical Office Administration, practice management, Medical Billing, invoicing, Payments, Financial Policy, estatements

Credit Card-On-File Is The Best Way To Ensure Payment: Is It Worth The Risk?

Posted by Jim Turner

May 24, 2018 8:17:00 AM

Card-on-file and automated recurring payment plans require practices to obtain credit card information for later use. That causes some doctors pause.

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Topics: Credit Card On File, Healthcare Data Security

The Elusive Push For Price Transparency In Healthcare: 3 Ways To Make A Start

Posted by Jim Turner

May 10, 2018 8:27:00 AM

Human bodies are complex. Human minds are complex. If you are working on either, you will encounter surprises. The unexpected is the norm. As hard as you try to provide pricing your patients can understand, there are always variables. Complications, new discoveries from the lab or the exam, additional and unanticipated materials were needed, or a hundred other potential issues can arise. These tend to fight against pricing transparency.

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Topics: Financial Policy, Pricing Transparency, Fees

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

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