How To Start A Credit Card Program On File In Your Medical Practice

My friends over at the ManageMyPractice.com blog are putting together another webinar that I think you all should attend. Mary Pat writes: We had such a great response to our Credit Card on File Webinars that we are running another session. If you are still curious about the credit card program on file that I go on and on about, but don't know how to make it work, how to store credit cards safely or how to tell patients about this new … [Read more...]

Keeping Credit Cards On File Is The Only Option

If you've read this blog long enough, and you've heard me speak at conferences, you know I'm a huge proponent of practices implementing a credit card on file policy. If you don't know what I'm talking about, I'm referring to the practice of asking patients to leave a credit card on file (with the practice) to cover balances that the health insurance companies deem patient responsibility. Much like a car rental company or a hotel requires a … [Read more...]

Want to Learn How to Implement a Credit Card Program in Your Medical Office? Here’s How

One of the best decisions our practice has ever made, has been requiring parents to leave a credit card on file. We've done this since 2009 and it has really worked well for us. The most obvious advantage is that this policy reduces your practice’s account receivables. I also like the policy because it shifts the risk of not getting paid to another party, namely the credit card company – which is a far better entity to handle financial risk … [Read more...]

Want to Learn How to Implement a Credit Card Program in Your Medical Office? Here's How

One of the best decisions our practice has ever made, has been requiring parents to leave a credit card on file. We've done this since 2009 and it has really worked well for us. The most obvious advantage is that this policy reduces your practice’s account receivables. I also like the policy because it shifts the risk of not getting paid to another party, namely the credit card company – which is a far better entity to handle financial risk … [Read more...]

Are you trying to find the cat’s 5th leg?

Back home we have saying (for those want to know, Caracas Venezuela is home), "you are trying to find the cat's 5th leg." We use the saying when people try really hard to find fault where there is none. In other words, you are looking for the one thing that will be a show stopper - like a 5th leg on a cat - so it will easier for you to defend the status quo. Imagine I'm starting a workout regime and I ask my trainer these questions: Will it … [Read more...]

Are you trying to find the cat's 5th leg?

Back home we have saying (for those want to know, Caracas Venezuela is home), "you are trying to find the cat's 5th leg." We use the saying when people try really hard to find fault where there is none. In other words, you are looking for the one thing that will be a show stopper - like a 5th leg on a cat - so it will easier for you to defend the status quo. Imagine I'm starting a workout regime and I ask my trainer these questions: Will it be … [Read more...]

We Can’t Provide If We Are In Need

I’ve had an opportunity to give my "101 ways to transform your practice" talk a couple of times and one of the points that gets the most interest from attendees, is our collection efforts. Specifically some of the techniques we use to get people to pay us. So I wanted to highlight for you today, some of those techniques we use. Fundamentally, the collection efforts begins before you’ve provided the service. And the administrative task is to … [Read more...]

We Can't Provide If We Are In Need

I’ve had an opportunity to give my "101 ways to transform your practice" talk a couple of times and one of the points that gets the most interest from attendees, is our collection efforts. Specifically some of the techniques we use to get people to pay us. So I wanted to highlight for you today, some of those techniques we use. Fundamentally, the collection efforts begins before you’ve provided the service. And the administrative task is to … [Read more...]

Does Your Medical Practice Have a Problem with Bad Debt? Here is a Solution

With the economic downturn that started last year thanks to the housing and consequently the financial market, it didn’t take a genius to figure out that medical practices were going to feel the pain. People were going to be losing their jobs/benefits, people were going to find ways to spend less on premiums, benefits diminished, and people were  going to put their medical bills at the bottom of the “to be paid” pile. Result? Bad debt was surely … [Read more...]