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Patient Payments Blog

'My Cancer Is Cured!' and That Tinge Of Doubt

Posted by Jim Turner

Jun 28, 2016 8:30:00 AM


 

     

 

If you've ever had a friend or relative call you to exclaim, ‘My cancer is cured’ you know the joy and relief you get from the news. I’ve heard statements like this several times and have been thrilled for those friends and family members. But, if I’m honest, I always have a tinge of apprehension. I tend to be skeptical about the announcement. I think there’s always that chance the news will turn bad sometime in the future.

 

I’ve heard administrators refer to rising accounts receivable balances as the cancer in their practice, especially the really old patient balances. Administrators would love to shout, ‘My cancer is cured!’ when it comes to past due accounts. And there are many companies with ‘cures’ out there shouting for attention and proclaiming to be panacea for all your payment problems.

 

The truth is that there are ways to treat this accounts receivable carcinoma. Every practice (and every ‘cancer’) is different though and will have different results. There are some practices in locations and with patient populations that will never eliminate high patient receivables. There are other practices that will undergo treatment and radically heal their bulging balances. Some will even proclaim that they are cancer-free. Regardless of the ultimate outcome, we believe that every practice can improve and fight the growth of their A/R balances.

 

If you feel like your A/R has become a ‘cancer patient’, below are some suggestions on diagnosing and approaching treatment.

 

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Topics: healthcare payments, Patient Balances, medical practice management, Patient Payments, Patient Collections Culture, practice management

[Series] Doctor or Staff: Who makes the final decision about payment? STEP ONE.

Posted by Easy Pay

May 6, 2016 8:30:00 AM

 

Last week we opened the topic of patient payment philosophy. We challenged you to consider your office payment philosophy and the effect it has on different processes. We promised to guide you through some steps that will help you determine your payment philosophy. We also provided a three question quiz to learn a bit about how succesful your peers are at communicating and implementing their patient payment philosophy. 

The quiz answers were interesting. Here's what we learned:

  • Nearly all respondents felt they could adequately communicate their patient payment philosophy
  • Almost no respondent felt that the philosophy was reflected in office policy or adhered to consistently by staff and physicians

There seems to be a big gap between what we know about our payment philosophy and what we do about it. Bridging that gap is what this series is about. First though, let's start with the subject our quiz showed we feel most confident about: the philosopy itself. Most of our respondents felt like they could say what their philosophy is in one sentence. That's great!

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Topics: Patient Payment Policies, Patient Collections Culture, Patient Centered Care, Medical Office Administration, Medical Billing

3-Step Plan to Stress-Free Patient Collections

Posted by Easy Pay

Oct 1, 2015 10:00:00 AM

Patient collections is one of the most challenging endeavors medical practices face today. The question every medical practice struggles to answer is "How can I get more money from patients?"

The continual complications of the nation's health insurance landscape have left medical practices struggling to stay ahead. Insured or not, collecting from patients has become a daunting task. For practices today that want to create a new culture of patient collections, a new strategy must be implemented to handle increasing costs.

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Topics: Credit Card On File, Patient Collections, Patient Collections Culture

Does Your Practice Have a Patient "Collections Culture"?

Posted by Easy Pay

Apr 2, 2015 10:00:00 AM

Collecting patient payments is a challenge for every healthcare organization. But the ones that are doing it right are the ones that have created a “Collections Culture”. These are the organizations that have made patient collections a priority, and have initiated aggressive policies to collect patient payments, the right way. 

Patient collections may never reach 100% for your practice, but you can drastically increase revenue from patients by creating a Collections Culture. Here’s how.

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Topics: Patient Collections, Patient Payment Policies, Patient Collections Culture

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