Playing Hardball - The Worst, Meanest Things Some Try to Do to Collect From Patients & Which Ones...
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TSIToday Getting You Paid Faster Playing Hardball The Worst, Meanest Things Some Try To Do To Collect, & Which Ones Are Effective and Legal!
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Transcript of Playing Hardball - The Worst, Meanest Things Some Try to Do to Collect From Patients & Which Ones...
TSIToday Getting You Paid Faster
Playing HardballThe Worst, Meanest Things Some Try To Do To Collect, & Which Ones Are Effective and Legal!
TSIToday Getting You Paid Faster
Review of Other eBooks In This Series
Getting paid often comes down to a set of certain psychology triggers.
Simple Psychology
The Rosenthal EffectYou tend to get paid what you expect to get paid. Getting paid is more about respect than money. People have money, they just aren’t paying you.
The Revenue Funnel LeakageIf you’ll think of your practice as a revenue funnel, then you have “leakage” in both your front & back office. Here’s how to fix them.
TSIToday Getting You Paid Faster
Mind Games: Wagging, Barking & BitingIt is mainly “wagging” and “barking,” not “biting” that gets people to pay.
If you could “bite” - what would that be exactly?
But let’s just ask the question…What is the worst thing you can do to a patient if they don’t pay their bill on time…legally?
TSIToday Getting You Paid Faster
Biting Options:You can’t yell, cuss, threaten, insult (FDCPA*)You can’t show up at their house or work (FDCPA)You can’t put them in Debtor’s Prison (sorry)
* The FDCPA, Fair Debt Collection Practices Act, won’t allow you to do these things (as fun or stress-relieving as they might be).
TSIToday Getting You Paid Faster
Stop service (if you can)
Ding their credit
Take them to court
So What CAN You Do?
- It’s time consuming, - No your agency doesn’t do this for you, - If the patient ever does pay you, it’s excruciatingly hard to reverse,- But the *real* kicker is that…Recovery rates go DOWN when you ding their credit.
- It’s time consuming, - No your agency doesn’t do this for you unless the balance is huge,- You will easily win the case, but all you will get from your trouble is a piece of paper (a judgement),- So the *real* kicker is that…Hardly any money is ever collected from court cases with patients.
TSIToday Getting You Paid Faster
Conclusion:
It might feel good to penalize people who don’t pay you (aka steal from you), but it’s not cost-effective.
TSIToday Getting You Paid Faster
Another Option:
What if you did nothing at all to change your patient collection strategies?
How long could you survive the current healthcare environment?
TSIToday Getting You Paid Faster
Want to learn how to re-train your patient base to actually pay you?
Reach out to me to schedule a FREE, personalized 20-minute consultation now.
Email me at…[email protected]
Brad McDaniel, MBA
TSIToday Getting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
2010’s 0% Patient Responsibility.An entire generation of Americans have learned to not pay their portion, but with reimbursements plummeting, this must stop.
Today Who’s Responsible?The Exchanges, HDHPs & ICD-10 will bring massive confusion about what is and isn’t covered & how much to pay.
TSIToday Getting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe an increasing balance. (35% by next year)Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Exchanges, HDHPs & ICD-10 only make it worse.Fact #9
The Tough New Reality for Doctors
TSIToday Getting You Paid Faster
This is what American doctors are facing.
Think I’m exaggerating?
TSIToday Getting You Paid Faster
TSIToday Getting You Paid Faster
TSIToday Getting You Paid Faster
TSIToday Getting You Paid Faster
The Urgent Burden of Debt
This chart shows the amount of
SBA-backed loan dollars borrowed by independent doctors from from 2000 to
2011
A 10-fold increase in just 10 years. Wow!How much longer, realistically, will this “quick-cash” kind-of-fix sustain these practices?
TSIToday Getting You Paid Faster
The Options?
1)Play the Ostrich (and deny reality)
4)Play the Sage (and get wise like other savvy doctors)
3)Play Dreamy Smurf (and fantasize of a pre-pay practice)
2)Play the Damsel (hoping hospitals/ACO’s will save you)
TSIToday Getting You Paid Faster
Bottomline:Maybe for the first time...
...or else!
Ever!
You have GOT to learn how to get your patients to pay their portion...
TSIToday Getting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.” Leverage the…
- Rosenthal Effect- Frequency Effect- Soft Collections Effect
(click above to learn more)
“We’ll hire more staff.”
“We’ll get it upon arrival.”
TSIToday Getting You Paid Faster
Want to learn how to re-train your patient base to actually pay you?
Reach out to me to schedule a FREE, personalized 20-minute consultation now.
Email me at…[email protected]
Brad McDaniel, MBA
