Comprehensive Patient Payment Plans
Creating comprehensive patient payment plans makes it painless for staff and members.
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nnIf you think it’s tough to create a comprehensive patient payment plan among the staff members of your own practice, imagine doing it with 115 physicians and staff spread across six locations in Utah, who process more than 1,000 claims per day. nnGranger Medical Clinic (GMC), the largest independent multi-specialty medical clinic group in Utah’s Salt Lake Valley. GMC was facing the same issues as smaller practices: an increasing number of patients responsible for a higher financial burden of their healthcare through high deductibles and copays. What’s more, they were losing money once those patients walked out the door, mostly because of a soft or absent payment policy and training for staff.nn“We had opportunities to collect missed and it forced things to the back end when a lot could have been resolved on the front end (of operations),” said Tim Ledbetter, former director of revenue cycle operations for GMC. Ledbetter discussed GMC’s collections transformation at a session during this year’s Health Information and Management Systems Society (HIMSS) conference in Las Vegas. Ledbetter noted that across healthcare today, out-of-pocket spending for patients is on the rise, not only among plans affiliated with the Affordable Care Act, but also those sponsored by employers. Add to that rising medical debt among patients and practices are facing a tough situation with those who actually show up for treatment.nnA 2014 Bankrate survey indicated that 55 percent of patients worry they won’t have enough savings to pay their medical bills. “You have more than half of patients walking into a clinic not just worried about their care and services, but also paying that bill.” Ledbetter continued, “That’s a lot of stress walking in the door.” To collect more on the front end of patient visits, GMC gathered its internal stakeholders (physicians, front-desk staff, etc.), as well as its health IT vendors to not only come up with a standardized policy for its six locations, but a technology process to both manage and streamline it.n
nThis article is originally posted on Physicianspractice.com.
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The Centers for Medicare & Medicaid Services (CMS) is beginning Cycle 2 of the provider and supplier revalidation process as required under the Affordable Care Act. Providers and suppliers will receive a revalidation notice 2-3 months prior to the revalidation date, either by mail or email. Failure to revalidate on time will result in deactivation of your billing privileges and your payments will come to a screeching halt!nnIf you need assistance with the revalidation process (we have done thousands!), 
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nnAre you a hardcore NBA fan who sits at the television screaming and shouting as your favorite NBA team scores the winning basket? As if you didn’t know professional sports players get paid the big money, learn more by reading the article below.nnOur heroes of professional sports are paid and often paid very big! If I could only have been a wide receiver, quarterback, or maybe a professional hockey player or basketball star! Whatever your sport, you know who they are and how well they are paid. The NBA’s average player salary is $5.15 million…I just Googled it! Why? Because they have mastered their trade, they have become elite actors (some more than others) of their craft and they are a relative few.nnPhysicians are the professional athlete of healthcare! Why? Same reason, you have mastered the trade, you are the elite actors of your craft and you are a relative few. I didn’t go to medical school, do a residency or become fellowship trained – you did! AND, just like professional athletes, your working life span is shorter than the rest of us. In your case it started late because of your training. It will end early because of the physical demands of being a provider and the occasional “heebie jeebies” you pick up along the way. Therefore, using my logic, you should be paid well, very well. Get to the point, Todd… Ok, here is the point: STOP giving it away!!!!! BE PAID FOR IT!!nn
About R. Todd Welter • MS, CPCnFounder and President of Welter Healthcare Partners