When rising levels of uninsured or under-insured patients, focus on effective collections becomes even more crucial. Improve your bottom line and strengthen your collections IQ.
Course Overview:
- Determine the effectiveness of your billing procedures, including collecting co-pays, deductibles, self pays, and insurance balances.
- Learn the steps to take before you start to collect on an account and receive sample collection letters.
- Master a proven, results-oriented approach and expert guidance to streamline reimbursement and collection policies
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Collection Practices That Work
In a slowed economy, your office must beef up collection policies to stay on top of receivables. Learn the latest on collection laws including the Red Flag Rules: new compliance guidelines mandated by the Federal Trade Commission to thwart the growing problem of identity theft.
Learn these valuable techniques for collecting timely payments.
- Steps to take before you begin collecting on an account
- Implement new policies on payment options and collections
- Effective ways to educate patients on payment policies
- Tips for facilitating timely payments
- How to set more effective collections benchmarks and goals
- Pre-verification and pre-certification guidelines that work
- Develop responsibility statements for all patients
- Procedures for obtaining accurate patient information
- Techniques for more effective payment requests
- Setting up payment plans and financial arrangements
- Effective use of liability statements
- Proper handling of discounts and courtesies
- How to read and aging report
- Instruction on the true cost of statements
- The legal aspects of telephone collections
- How to determine when to send an account to a collection agency
- Tips for writing more collections letters that get results
- Understanding billing laws and their relevancy in your office
- Procedures for extending professional courtesies
- Develop a comprehensive collections strategy
Who Should Attend
This is an intermediate-level course appropriate for physicians, practice managers, coders and billing staff. Attendees will explore the stages of the collections process, beyond payment at time of service. Your instructor will provide a manageable, traceable system that gets results without negatively affecting patient relations. Includes tips on dealing with difficult collection situations.
Prerequisites
At least six month of medical practice experience and familiarity with practice billing procedures.
What to Bring
No supplementary materials are required for this course. A course manual will be provided for all participants.
CEUs
A certificate of attendance will be provided to all attendees. PMI-Certified professionals (CMC, CMIS, CMOM) receive CEUs for attendance based on total number of instructional hours. All others seeking CEUs should verify credit guidelines with their organization prior to enrollment in this program.
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Program Schedule
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Earn 3 PMI CEUs for attendance at this program. Practice Management Institute grants CEUs for its certified professionals based on total number of instructional hours (1 CEU per hour of classroom instruction). CEUs may be applied to annual recertification requirements, as directed in the certification renewal requirements for your credential(s).
