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The future of medical payments doesn't look so good for most doctors because they have been living off insurance money for decades and have never learned how to get patients to actually pay their portion. When they look at their aging report, they say to the billers - "Let's try harder," but that doesn't seem to be working very well, does it?
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ProfitWiseSolutionsGetting You Paid Faster
It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Let’s Get One Thing Straight...
ProfitWiseSolutionsGetting You Paid Faster
Let’s Get One Thing Straight...
A doctor’s relationship, both clinical and financial, is with the patient. Remember?
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
2010’s 0% Patient Responsibility.An entire generation of Americans have learned to not pay their portion, but with reimbursements plummeting, this must stop.
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
2010’s 0% Patient Responsibility.An entire generation of Americans have learned to not pay their portion, but with reimbursements plummeting, this must stop.
2014... Who’s Responsible?The Exchanges, HDHPs & ICD-10 will only increase the mass confusion about what is and isn’t covered & how much to pay.
ProfitWiseSolutionsGetting You Paid Faster
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
The Tough New Reality for Doctors
Insurance reimbursements are plummeting yearly.Fact #2
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
The patients owe the remaining balance.Fact #4
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Exchanges, HDHPs & ICD-10, will make it worse.Fact #9
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Exchanges, HDHPs & ICD-10, will make it worse.Fact #9
Doctors must learn to collect the patient dollar...and fast!Fact #10
The Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
The Urgent Burden of Debt
This chart shows the amount of
SBA-backed loan dollars borrowed by independent doctors from from 2000 to
2011
ProfitWiseSolutionsGetting You Paid Faster
The Urgent Burden of Debt
This chart shows the amount of
SBA-backed loan dollars borrowed by independent doctors from from 2000 to
2011
A 10-fold increase in just 10 years. Wow!How much longer, realistically, will this “quick-cash” kind-of-fix
sustain these practices?
ProfitWiseSolutionsGetting You Paid Faster
The Options?
ProfitWiseSolutionsGetting You Paid Faster
The Options?
1) Play the Ostrich (and deny reality)
ProfitWiseSolutionsGetting You Paid Faster
The Options?
1) Play the Ostrich (and deny reality)
2) Play the Damsel (hoping the hospitals will save you)
ProfitWiseSolutionsGetting You Paid Faster
The Options?
1) Play the Ostrich (and deny reality)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
ProfitWiseSolutionsGetting You Paid Faster
The Options?
1) Play the Ostrich (and deny reality)
4) Play King Solomon (and get wise like other savvy doctors)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
ProfitWiseSolutionsGetting You Paid Faster
The Options?
1) Play the Ostrich (and deny reality)
4) Play King Solomon (and get wise like other savvy doctors)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
ProfitWiseSolutionsGetting You Paid Faster
Bottomline:
ProfitWiseSolutionsGetting You Paid Faster
Bottomline:Maybe for the first time...
ProfitWiseSolutionsGetting You Paid Faster
Bottomline:Maybe for the first time... Ever!
ProfitWiseSolutionsGetting You Paid Faster
Bottomline:Maybe for the first time... Ever!
You have GOT to learn how to get your patients to pay their portion...
ProfitWiseSolutionsGetting You Paid Faster
Bottomline:Maybe for the first time...
...or else!
Ever!
You have GOT to learn how to get your patients to pay their portion...
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers:
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
Pray for daily miracles!
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”Just kidding.
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
The 4 Payer Motivations
“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
The 4 Payer Motivations
Automation & Frequency“Our agency will get it.”
ProfitWiseSolutionsGetting You Paid Faster
We can show you how.
ProfitWiseSolutionsGetting You Paid Faster
However, we can show you how.
We help doctors everyday. All day. Nationwide.
ProfitWiseSolutionsGetting You Paid Faster
However, we can show you how.
We help doctors everyday. All day. Nationwide.
There’s no need to go broke.
ProfitWiseSolutionsGetting You Paid Faster
However, we can show you how.
We help doctors everyday. All day. Nationwide.
There’s no need to go broke.
Our clients are doing just fine.
ProfitWiseSolutionsGetting You Paid Faster
Learn how to keep your practice flush with cash.
ProfitWiseSolutionsGetting You Paid Faster
Learn how to keep your practice flush with cash.
It’s easier than you think.
ProfitWiseSolutionsGetting You Paid Faster
Learn how to keep your practice flush with cash.
It’s easier than you think.
Just ask for a personalized A/R strategy meeting.
ProfitWiseSolutionsGetting You Paid Faster
In just 20-30 minutes,
ProfitWiseSolutionsGetting You Paid Faster
In just 20-30 minutes,
We’ll cover...
ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
4 Sneak Peak2 Heroic Apps That Could Save Your Practice
ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
4 Sneak Peak2 Heroic Apps That Could Save Your Practice
Bonus Quadrupling Your Recovery RatesYes. Seriously. Here’s Real-World Proof.
ProfitWiseSolutionsGetting You Paid Faster
You’ll find this fascinating!
ProfitWiseSolutionsGetting You Paid Faster
As a matter of fact,
You’ll find this fascinating!
ProfitWiseSolutionsGetting You Paid Faster
As a matter of fact,
You’re peers will think you have a magic wand!
You’ll find this fascinating!
ProfitWiseSolutionsGetting You Paid Faster
As a matter of fact,
You’re peers will think you have a magic wand!
No kidding.
You’ll find this fascinating!
ProfitWiseSolutionsGetting You Paid Faster
Seriously.
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
So....
ProfitWiseSolutionsGetting You Paid Faster
Don’t Go Broke!
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
So....
ProfitWiseSolutionsGetting You Paid Faster
Learn How To Get Patients To Actually Pay Their Portion
Don’t Go Broke!
Seriously.Staying profitable is only going to get harder.Even if you sell-out, they’ll still want to you get that patient dollar!
So....
ProfitWiseSolutionsGetting You Paid Faster
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ProfitWiseSolutionsGetting You Paid Faster
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ProfitWiseSolutionsGetting You Paid Faster
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