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Patient Payments Blog

The Most Important Language In Your Financial Policy

Posted by Jim Turner

Aug 29, 2019 9:07:00 AM

Without being rude, a patient needs to be reminded that he or she will most likely owe your practice money. This needs to be clearly stated at the beginning of your relationship. With existing patients, at the beginning point of his or her next treatment.

 

Not only is this reminder the most important part of your financial policy; it is the most difficult to communicate in a non-confrontational way.

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Topics: Patient Payments, Patient Payment Policies, Financial Policy

InfoGraphic: When Should You Offer The Payment Plan?

Posted by Jim Turner

Oct 4, 2018 8:17:00 AM

I recently had a very interesting meeting with a physical therapy office. We were discussing payment plans. Specifically, when the practice could implement one.

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Topics: Patient Payment Policies, Patient Payment Technology, Payments

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

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

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

NEW Financial Intake Form Download

Posted by Jim Turner

Jan 4, 2018 8:37:00 AM

As a part of our ongoing support to practices we often provide forms, policies, graphics and other helpful items. Our desire is to help you create a patient friendly payment environment. 

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Topics: medical practice management, Patient Payment Solutions, Patient Centered Practice, Patient Payment Policies, practice management, Back Office Tips

Simple Graphic: 5 Technologies That Speed Payment

Posted by Jim Turner

Oct 24, 2017 8:37:00 AM

Discover the 5 'E's of getting paid. Patient payment technologies are getting smarter and more patient friendly.It's worth your time to seek out the best solutions for your practice and start implementing them one at a time. Year-end is upon us and a perfect time to evaluate your previous results and look for ways to improve in the new year. Here's a graphic of five technologies that are proven to speed patient payments. If you are not using them, you may want to consider. 

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Topics: healthcare payments, Patient Payment Solutions, Patient Payments, Patient Payment Policies, Patient Payment Technology, practice management

A Simple Graphic for Point Of Service Payment Collection

Posted by Jim Turner

Sep 19, 2017 8:37:00 AM

Our friend James Riviezzo of Practice On Your Terms has a very simple time of service payment decision tree we’d like to share with you. We get a lot of questions about how much to collect and when to collect it. We’ve found the advice James shares about time of service payments is a solid rule of thumb for most practices.

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Topics: Patient Payment Solutions, Patient Payments, Patient Payment Policies

How You Can Set Limits for Payment Plans

Posted by Jim Turner

Aug 30, 2017 8:43:00 AM

You want to be patient friendly and profitable. Patients are incurring higher and higher out-of-pocket expenses. Balances are rising and aging. Solutions are elusive. But, payment plans are becoming a real option for practices that don’t want to demand up-front payment in full.

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Topics: healthcare payments, Patient Payment Solutions, Medical Billing Solutions, Patient Payments, Patient Payment Policies, Medical Office Administration, Medical Billing, Payments

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