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Patient Payments Blog

Four Reasons Your Patient Receivables Are Aging

Posted by Jim Turner

May 23, 2017 8:37:00 AM

 

There are really only four reasons your patient receivables are aging. Three really - because two of the reasons are the same – just the timing is different. If there are any others…okay, I just thought of one more. There are four reasons your patient receivables are aging.

Fact is, you can address each of them and get your aging under control. You could come close to eliminating aging altogether if you got serious…but seriously…who wants to be serious!

Please don’t take the wording of the reasons as accusatory. Unless of course you are guilty and should be accused. In that case, please don’t curse the messenger. I simply observe practices and how they work and why things happen the way they do. I’m not your judge. But if it were my money at risk and these reasons were true of how you were running my practice – I’m certain we would be having a different conversation.

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Topics: healthcare payments, medical practice management, Patient Payment Solutions, Patient Payments, Patient Payment Policies, practice management, accounts receivable, aging

A Frustrated Administrators Story

Posted by Jim Turner

Apr 25, 2017 9:13:00 AM

Sometimes it's best for us to let our customers talk. In this case, one of our customers, Amy Rogers, administrator of Orthopaedics and Rheumatology of the North Shore had not one, but two publications ask her for her story. She implemented a mandatory Card-On-File program in 2015 - her results are worth noting! 

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Topics: healthcare payments, Patient Balances, medical practice management, Credit Card On File, Patient Collections, Patient Centered Practice, Healthcare Reimbursements, practice management

Warning - Your Patients Can't Read Your Policy

Posted by Jim Turner

Apr 18, 2017 8:37:00 AM

I did a quick statistical study using 20 different financial policies from a variety of healthcare practices. They included primary care, podiatry, hospital, radiology, sleep center, colorectal specialists, and others - a wide sample. What I found was shocking. 

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Topics: healthcare payments, medical practice management, Patient Payment Policies, practice management, communication

For You - A Free Financial Policy Template

Posted by Jim Turner

Apr 11, 2017 8:33:00 AM


You probably don't have time to review and rewrite your financial policy. If you did, you may not see the need, or worse, might not believe it would make any difference. Is there a way to be friendly and persuasive? Are there words to express the seriousness of going past due while remaining upbeat about the services you provide? Would it really be worth the time and effort?

 

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Topics: healthcare payments, Patient Balances, medical practice management, Patient Collections, Patient Centered Practice, Patient Payment Policies, Patient Collections Culture, practice management, communication

Give me $3 and I’ll give you $30

Posted by Jim Turner

Mar 14, 2017 9:37:00 AM

Who wouldn’t take that deal? No strings attached – You give me $3 and I’ll give you $30 back. It’s a completely legitimate, proven offer. I have witnesses that have given me their $3 and received the $30 in return – some much more than $30. But I have professionals just like you turn me down every day. It used to puzzle me why smart people would turn this offer down but I think I understand better now.

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Topics: healthcare payments, medical practice management, Credit Card On File, Patient Centered Practice, New Healthcare Consumer, Medical Office Administration, practice management, Free Offer

One Year to the Lowest A/R We’ve Ever Seen.

Posted by Jim Turner

Mar 7, 2017 9:17:00 AM

 

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Topics: healthcare payments, Patient Balances, medical practice management, Patient Payment Solutions, Patient Collections, Medical Billing Solutions, Patient Payment Policies, Patient Collections Culture, Patient Collections for Hospitals, Medical Office Administration, practice management, Medical Billing, Medical Billers

A Simple Graphic To Ensure Patient Payments.

Posted by Jim Turner

Feb 16, 2017 8:23:00 AM

Simple is just better. Getting paid in an HDHP world has become complex and difficult. Patients don't understand their bills or figure you won't do anything serious for three months so they put you on the back burner. Your A/R is climbing, your cash flow is slowing, and your bad debts are increasing. Here's a simple two step process to get it under control.

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Topics: healthcare payments, Patient Payment Solutions, High Deductible Challenge, Patient Payments, practice management, Patient Satisfaction, HDHP

Stop Collecting and Start Connecting: The Day Spa Approach

Posted by Jim Turner

Jan 24, 2017 8:13:00 AM

 

Picture your day at the Spa. How does the staff at your favorite day spa make you feel special, or help you feel renewed?

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Topics: healthcare payments, medical practice management, New Healthcare Consumer, Medical Office Administration, practice management, Front Desk Tips, Medical Billing, Front Office

[Guest Blog] How to Solve the Hidden Problem of High Patient Deductibles

Posted by James Riviezzo

Jan 17, 2017 8:13:00 AM

What I learned from over 1,000 awkward conversations with patients about money

Patients are almost always unaware of what their full healthcare costs are. 

The high deductible health plans from the insurance exchanges and insurance companies is really hitting the patients hard. So many of them get lost in the confusion and then just can’t pay.

After over 1000 awkward conversations with patients about money I have learned the how to find the middle path in collecting what you deserve and building better patient loyalty. Here's what they and you need to understand.

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Topics: healthcare payments, Patient Balances, Patient Collections, High Deductible Challenge, Patient Payments, Patient Cost Estimation Tools, practice management

High Deductible Season: Wanting to Change Doesn’t Mean Willing to Change

Posted by Jim Turner

Dec 27, 2016 8:30:00 AM


 

I’ve read the statistics so I don’t make resolutions. I do though, change things. When I find that some issue has grown too large to live with I determine to do things differently. I just spent $4000 to solve a problem that has been nagging me all year, actually for many years. It was a lot more than I wanted to spend but not more than I was willing to spend to resolve the issue.

I think that’s the key. We rarely want to spend the necessary energy, time, or money to solve issues that continue to nag us year after year. It’s only when the issues rise to the level of constant or recurring irritation or ‘do or die’ that we become willing make the effort to change. Patient balances due to high deductible health plans are about to become the recurring irritation and perhaps the ‘do or die’ issue in your practice. We are entering the new year which means your patient’s deductibles will reset and your balances will increase and you’ll be stuck with ever growing collection balances for the remainder of the year.

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Topics: healthcare payments, Patient Balances, medical practice management, High Deductible Challenge, Patient Payments, practice management

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