To improve processes with patient collections, some clients are hiring and training staff differently, using practice management software to calculate amounts collected and rewarding staff with incentives.
Changes to practice processes include the use of Scripts or prepared statements as well as changes to when and where staff members talk with patients about copays and how staff members are rewarded for their efforts.
Of course we all know that collecting copays is most successful during check-in because
every patient needs to be checked in, but some patients are directed to other areas within the practice or facility for tests and others walk by the front desk on their way out because they don’t think they need to stop.
Recognition
Rewarding front-desk staff and key employees who collect copays, coinsurance and outstanding balances is also part of a new workflow for collections.
Top collectors of patient debt and bad debt can earn an additional $25 a week, which enables employees to earn as much as $100 extra a month for high performance.
In addition, those who collect the most each quarter are recognized by Management and the annual best-performers are honored at a luncheon attended by the Doctors and management.
Other incentive plans are handled more informally. Individual practice locations hold internal competitions to see which member of the front-desk staff can collect the most money in patient balances and which individual locations collect the most. Rewards include Starbucks gift cards and pizza parties.
Metrics, Measure them.
Tracking performance metrics is another key way to stay on top of collections, especially at practices with multiple sites, and hold monthly meetings to review collections performance for each practice site so physician partners and other practice leaders know where to emphasize additional collections training or resources. As their revised collections workflow shows success, practice leaders know where to prioritize rewards and kudos for improved effort.
As the percentage of revenue from Patients is a growing percentage of the overall revenue of the practice, the efforts to collect these totals is of greater importance and in some cases will determine the viability of the practice.