Are there consistent errors within your medical accounts receivable management processes that are restricting your organization’s cash flow? There are a few common problems that plague healthcare providers that can be avoided in a few simple steps.
Originally published in the September/October 2016 Issue of The PAHCOM Journal - www.PAHCOM.com
The culture you create within your office has a direct impact on how well your team is able to collect money, and it all starts at the top. It is up to the leadership within your practice to set the culture, and to hire and empower a team to sustain it. An emotionally engaged workforce leads to an emotionally engaged patient, which contributes to organizational success.
A great statesman, warrior, and our nation’s 26th president is quoted as saying, “People don’t care how much you know, until they know how much you care.” Few would argue that Theodore Roosevelt was not a great leader, and nearly 108 years after his departure as President of the United States these words still provide a glimpse into his perspective on working with people.
It’s a busy afternoon and the practice’s front desk is understaffed, again. After several minutes and a rush of registrations the last patient to walk in finally approaches the counter. Despite the rush of patients the front desk representative offers a friendly greeting, confirms her general demographic and insurance information, and confirms that she does not owe a co-pay. The rep also notices that the patient has a high outstanding balance and a $5,000 deductible that she has not met yet. The practice’s financial policy states that high deductible health plan patients with a high balance must establish a payment plan in order to receive care, but she is already running late for her time slot so the rep lets her know that following her appointment she will need to meet with a patient account representative to establish one.