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Patient Payments Blog

How To Set A Payment Plan Policy

Posted by Jim Turner

Sep 20, 2018 8:27:00 AM

Payment plans are becoming a necessity in many healthcare practices. The treatments your patients need are simply too expensive, and their deductibles are too high for them to pay a large balance.

 

In order to collect the full amount of billed services while preventing past due A/R from climbing, payment plans are a good option. To make payment plans successful you’ll have to do a little planning yourself. Below are some simple steps that can help you develop an effective policy. 

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Topics: Payments, Financial Policy, practice management, Medical Office Administration

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

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: Pricing Transparency, Fees, Financial Policy

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

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

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

Have Millennial Patients? Learn How They Pay Their Bills To Maximize Payment Success.

Posted by Jim Turner

Feb 9, 2018 8:17:00 AM

 According to a Trans Union study reported on by Becker’s Healthcare, which you can find here, the generation fondly referred to as the millennials are the slowest paying generation now paying its own bills. There are other generations not included in the study, but they are either old enough to be under Medicare or young enough to have their parents paying their bills.

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Topics: Little Know Facts, Financial Policy, Payments

Fee Publishing: Business As Usual May Not Work In An Amazon World

Posted by Jim Turner

Feb 1, 2018 8:37:00 AM

 In the complex world of healthcare, fee publishing is a tricky business. You don’t want to give your patients the wrong impression by publishing fees that may not apply to their situation. If publishing fees will lead to patient confusion, it may be best not to. But for most practices, publishing a list of your most common fees can be very helpful and a great way to build patient trust.

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Topics: Financial Policy, Patient Payment Policies, Patient Payment Solutions, Pricing, Pricing Transparency, Fees

How Would You Like Your Bad News?

Posted by Jim Turner

Jan 25, 2018 8:43:00 AM

A recent article on the website Psychcentral (https://psychcentral.com/news/2017/10/07/most-people-prefer-their-bad-news-candid-and-direct/127060.html) informs us that people, for the most part, want bad news delivered with directness and candor. No beating around the bush or polite delays – just give it to us straight. Even when it comes to cancer, we don’t want the doctor to talk around it, we want it direct.

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Topics: Financial Policy

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