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Table
of Contents
General Collection
Principless
In order to get paid for your
services there are several basic principles you must understand.
-
No one is
expecting services for free. Some people with insurance may
think there insurance plan covers everything (typically it doesn't) but
in general most know there will be some associated costs.
-
You can't expect
to get paid unless you present a bill. Just like
when you go to a restaurant, they present you with a menu and
after finishing they present you with a bill. So to your services
should be if you want to have a healthy cash flow.
-
The collection
process begins at the time of initial contact. Don't
be afraid of talking about money. No one is expecting to get treatment
for free. In fact, one reason patients will not folllow
through with their medical care is due to financial
ambiguity.
-
You cannot be the
one collecting monies for your services. Hiring a very
confident, personable and reliable front office/receptionist will be
one of the most important decisions you make. Pay that person well.
-
Accept
credit cards. If you want to have good cash flow you must
accept
credit
cards.
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How
to Make First Contact
Make
a good first impression and let them know you care more about their
problem rather than their insurance.
Use the
First
Contact and Payment Verification Form to do this right.
(optional) Use a credit card to reserve an
appointment slot. If they no-show or cancel with a less than 24-hour
advance notice a fee will be charged. Recommend $10-20.
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Collecting
at the Time of Service
1)
When the patient arrives for their initial visit finish gathering any
information that was not collected over the phone. These items will be
important should the account ever become delinquent and you want to
collect your money.
-
An
emergency contact. Contrary to popular belief this item isn't
needed for the serious medical emergencies. You call 911 for that. This
item will help you or the collection company "track them down".
-
Their
social security number. Some will not feel comfortable giving
that over the phone. This item will be needed should the account go to
collections.
-
A
copy of their drivers license. Once again you'll
need it should it be sent to collections.
2)
Then present them with the following forms:
If you
have a website make these forms available for download so they can
complete prior to their initial appointment.
3)
After every visit you should present a bill or what we call a
service
fee slip.
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Collecting
Copays
One of
the most common questions you'll get from patients whose plans include
a copay is, "Can you waive it for me?" It may happen so
commonly that it becomes a nuisance.
To
help deal with this issue and educate people of the law use this sign
made exclusively for IndeFree members. 1)
Unlawful
Waiver... and
2)
Copays are
Due...
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Collecting
Deductibles
There
are several ways to collect deductibles from patients. Once again, you
are required by law to make a "good willed effort" to collect.
Something
you should know is if the patient has a deductible that's a part of
their plan and you bill the insurance company, they will withhold
payment to you and apply it toward the deductible amount until it is
met, which leaves the burden of collecting that amount from the patient.
Most
practices wait til the patient's insurance plan is billed and EOB
received prior to billing the patient their portion. The only problem
is 30-60 days may pass before you even receive an EOB (explanation of
benefits) from the insurance plan billed and by then the patient's
portion may have accumulated to significant amounts (ie. $200 to
$500). Make sure to avoid this by
presenting them a
bill
at the end
of each visit collecting their portions due. It's easier to collect
$10-20 dollars at each treatment rather than $300 dollars all at once
later.
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Delinquent Accounts: How
to Avoid Them
Follow
all the steps above as well as use a
payment
extension form
if the patient ever replies, "I forgot my wallet" etc...
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Delinquent Accounts: How
to Handle Them
First of all, do not make it easy for patients to
do the wrong thing! If you regularly write-off bad debt
without a "good-willed effort" to collect you are breaking insurance
fraud laws let alone making it easy for people to not pay their debts
which cause them to not be able to sleep at night.
1. Have a staff member call the patient on
the phone first and get payment via credit
card. This will usually be successful.
2.
If that doesn't work you should send a
collection
letter allowing them to pay by credit card by phone,
internet, or by sending a check. Make sure to assign a
deadline and inform them of the negative consequences
should they fail to resolve the debt.
3.
Send to collections. Use a flat rate collection service.
4. If that doesn't work than send to collections.
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Key
to Success
Use a brochure of services
and fees and make them available at the front counter.
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Important
Reminder
Never do any work for free. It costs
you money, time and human resource to perform the functions of your
business. Whether it be data entry, filing claims, etc. Don't do work
that is the responsibility of the patient for free.
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Resource
Links
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