I recently came across an office with a good method for increasing collections on their delinquent accounts. Every morning when they pull a list of patients that are coming in that day, the billing person looks up how much money that patient owes. While they’re at it, they also look to see if any other family members owe anything.
When the patient comes in, the receptionist asks them to pay for their past balance in addition to their current co-payment amount. Many receptionists are uncomfortable doing this. This practice overcame the resistance with a unique twist.
When deficient accounts were collected, this practice gave a percentage of the collection amount to the receptionists. They tallied it up and added it into their paycheck. Don’t forget--taxes still have to be paid appropriately.
The practice I talked to gave 25%-50% of the amount to the receptionist. Considering that the average practice has a few hundred dollars of Accounts Receivable walk through every day, this can make a huge difference. The practice makes more money immediately and now the receptionists feel they are being generously reimbursed for their efforts. In effect, they now have some “ownership” of the practice.
Before you do this, be sure you check to see if there are any legal issues in your state and talk with your tax advisor.
Well, we’ve finished production on our latest Medical Office Strategies installment. It is entitled “Nurse Practitioners”. In this video, we explore at length many issues involved with partnering with and utilizing non-physician providers (nurse practitioners and physician assistants). As I’ve told many of you over the years, I couldn’t have the practice that I have without the help of my nurse practitioners. This program is over 2 hours long and includes the video DVD, audio CDs, MP3 files, and the notes in digital format.
I am very happy with how this program turned out and I think you will be also. The first hour I spend going over many of the ups and downs of working with mid-level providers and also discuss some of the many ways I’ve found to make our practice successful. In the second hour, Salena Dixon (one of the NPs who I work with) gives her thoughts and insights about working together in a very busy practice. I think you will enjoy her comments and find the information invaluable.
Historically, I charge $50 per hour for subscriptions and $100/hour for non-subscribers for the Medical Office Strategies programs. However, I feel that this program should be shipped as one volume and we are charging only the price for an hour program. If you are a subscriber, these will be shipping this Friday.
For our non-subscribers, I would like to extend an opportunity to let you try this program and see how you like it. From now through October 1st you can order this 2 hour volume with all 4 disks for the same price of $50. Of course we still (and will always) extend our money back guarantee. If you view it or listen to it and feel that it is not helpful, just notify us and return it within the next couple months and you will receive a no-hassle money-back refund. Just order online at http://www.paulfirthmd.com/ecomm/stores/1/Subscription-Based_Service_--__C220.cfm or fill out the attached order form and mail or fax it back to us.