How to Detect Insurance Underpayments
How can you tell if your Chiropractic Practice is being paid in full and on time by insurance companies? How can you tell if there’s an underpayment? Underpayments by Insurance Companies for the services that you render is a constant problem that you need to pay attention to. The Genesis Chiropractic billing software can detect insurance company underpayments and then you’ll know the details you need to address the situation. The elimination of insurance industry underpayments is a challenge because their goal is to not pay for anything until they absolutely have to. Their next tactic is to underpay and hope that you don’t catch on. They also try to delay your payments until you forget about it, and they typically take 120 days to get around to your payments. Our built-in tool will help you to detect and then to fight underpayments. Learn more with the free webinar that can be viewed right on this page. Read the Transcript: Jason: Thank you for everyone who joined us today and we’re gonna get rolling with our topic today. We touched on this topic really a few months ago, but we’re coming back to it, on how to manage collections in your office, very specifically, with measuring collections. There are two ways that we recommend as best practices. I’m not sure there is a third or fourth way to measure collections. Number one is, that all your visits get paid, and number two is, that they get paid the right amount. So today we’re actually focusing on that second portion of, “How do you know if your visits got paid the right amount?” So that will be our topic of discussion and we’re going to make some disclaimers here at the beginning. Is the right amount is specific when it comes to all the insurance companies that you’re in network with, and a little more of the guesstimate, when we’re talking about all of the pairs that are out of network. So we’re gonna go through, to the best of our ability, our options. But if you know a number that you should be getting paid for an insurance company, we’re gonna talk about how you can make sure that we are going to, number one, identify an underpayment. Number two, create workflow that will assign that underpayment to a specific person. And then number three, make sure you can follow up on it and know that you got paid the right amount. So practices are constantly concerned and worried about whether or not their collections are what they’re supposed to be. And it’s a challenge to try and come up with some formula, or algorithm to make sure you got that. So I wanna talk about, first of all, measuring collections. And then, you know, second, whether or not you guys can utilize the tools that we’re talking about to measure your underpayments or potential underpayments. So, collections, when we are talking about a practice and you look at a number in the upper right-hand corner here. And I’ll make it slightly bigger, and now we can use a few of our tools here to help annotate this. You know you’ve got collections… Jessica: Oops, I’m gonna select the color. Jason: You’re looking at, you know, the theory up here of $27,000 that you’re going to get paid, you know, in this month. How do you know that’s the right number? Well, each and every time that you look at that, you have to be saying to yourself, “Could I be getting more?” Every doctor I talk to thinks, or practice owner thinks they could be getting more. If all of your business have been paid and you check out that every single one of your date of service has had a payment posted to it. The next laudable question is, “How do I know that, that got paid the right amount?” Oh, how do I get rid of that? Jessica: Go to top first. Jason: Back to the top, perfect. And, today, we’re gonna bring you over to a couple of other accounts, and we’re gonna show you two reports that will work and help you understand, the first is your billing staff’s report. Your billing statistics report will help you run some trend analysis. And what I’ve done here is I’ve opened up our billing statistics report under billing analytics, billing steps. And the first thing that I’ve done is selected a date range. For this particular report, I selected all the way from January 1st to December 31st of 2015. So looking at the entire calendar year. And there is a lot of useful information that comes in the billing statistics report. Not every single column or piece of information will be something you wanna look at each time. But I’ve selected two metrics to marry together for this particular report. You’ll notice that I’ve sorted this into a month over month range, as I’m doing month of service. So what this means is, all of the dates of service that happened in that particular month. So I don’t care if you billed it out late, you could have billed a January date of service in April, but it would still be counted here for the month of service of January. And then I chose CPT codes, because…any of you providers that are in network with an insurance company, your contractual agreements will be either paid by visit or paid by CPT code. Here we’re focusing on paid by CPT code. And we can see here that you’re going to have a total number of claims of 567, you know, $50,960 billed out. But more importantly, you can see how much is, on average, paid by charge for each one of those months, for the CPT code of 9711O. And you can see here that it’s not a consistent number, month over month. All right? So what courses this fluctuation? Obviously there are balances left
Fortis Payment Systems is Integrated with Genesis.
Use Fortis Payment Systems to process credit card payments in real time online, not with a slow telephone terminal. Fortis Payment Systems is Integrated within Genesis Chiropractic Software. You can charge a patient’s card from within their account and you can charge their card easily from the Point of Sale screen as well. The payments can be tagged separately and they’re automatically posted to the patient’s account. Fortis will handle all of your card charging needs securely and they will handle your PCI Compliance as well. That’s very important. Be sure that you absolutely do not store any patient credit card numbers in your office or you could have a PCI compliance violation. View this webinar to see other features and to see how it works. Learn more with the free webinar that can be viewed right on this page. Read the transcript: Jessica: All right. Well, let’s get started. Again, my name is Jessica Pancoast and I run our training desk and help desk. Today, we are concentrating on third party companies, and today it is Fortis and we have Jonathan McAlees from Fortis to help us out with that. Welcome, Jonathan. Jonathan: Thanks so much for having me. So, we’ll talk a little bit about the integration that we have and I’m not sure, do we have control yet, Jessica? Jessica: I did promote you to a presenter. You should be able to download the… Jonathan: Okay, perfect. Yeah, okay. Here we go. I’ll start sharing my screen. All right, can you see my screen now? Jessica: Yes. Jonathan: Perfect, okay. So, I’ll give you guys a little bit of background into Fortis real quick. So, Fortis is a merchant services company, so we do credit card processing. We specialize in that. We specialize in high-end niche verticals. So, what that means is we aren’t a processing company that is built for everyone. We go into very niche verticals and we specialize in that. And so, one of those verticals that we’re in is obviously the EHR kind of chiropractic, PT, medical background. And so, what we did was we built a specific gateway geared for specifically what you guys are doing. So, what we found was a lot of the stuff that was out there was built for everyone, and it’s built for these web developers and it’s not really built for an office to take payments for their patients. And so, when we met up with Vericle we were able to integrate, and they have this great integration that allows you to take one-time or, you know, store credit cards or bank accounts on file, as well as set up reoccurring payments if you need that. And so, you know, as the market changes and you guys deal with EMV, we wanna make sure that you’re compliant because one of the things that happens is offices don’t realize all the compliance that they’re under. So, lucky you, as an office, not only are you under HIPAA compliance but you are also under PCI compliance by the fact that you take credit card payments. And so, we wanna make sure that you’re compliant and make sure that you’re following the regulations, and we want that to happen on our side, not your side. So, we allow the software to handle all of your PCI compliance for you. One of the things that we see within offices is they do things like they write down credit card numbers. And that’s a big, big no-no in our space. Most offices don’t realize that you can get fined up to $5,000 per credit card that you have written down. So, this is not something you wanna do. It could bankrupt an office if you have a hundred or a couple hundred cards written down and you are breached like that. So, we wanna make sure that you’re compliant, that you’re not doing that, and the other thing is there’s easier ways to do that. So, we’re gonna show you a little bit of that today, how the integration works with Vericle, and how it seamlessly integrates and allows your payments to auto-post back. So, as you can see here, I am right in the Vericle system. I’ve got John Smith, my patient, selected. To access Fortis, all you have to do is click more and then Fortis. You can see we haven’t left Vericle, so we’re still in Vericle but we go right from the patient’s profile in Vericle to their profile within Fortis. Now, from within here, you can do anything you need to on the payment side. So, if you wanna run a one-time transaction, a one-time swipe, you can just click the charge contact button, swipe a card with the little $14 USB swiper from amazon and then your transaction is done. It’s just as if you were running a terminal, except this terminal is now online. Well, we kind of like to say, and we do have terminals and some offices like them, but we don’t often recommend them. Because think of it as a flip phone. A terminal is like a flip phone and this system is like an iPhone. So, you’d really, really be wasting out if the only thing you used on your iPhone feature was making phone calls and text messages. There’s a lot of other things that you can do. Well, that’s kind of similar here. So, we don’t want you just stuck only being able to do one or two things on a terminal. We have a full terminal online. So, you can come in here and swipe payments just like I showed you there. The other thing you can do, and this is really where we start to help save you time and money, is you can store credit cards or bank accounts in our system. We do this all securely, through a system or process called tokenization. If you’re not familiar with tokenization, essentially, what we are
How Do You Assess Your Practice?
How can you get your finger on the pulse of your practice? Assess your practice regularly because this week’s webinar is about your Collections. How do you assess both Insurance and Cash Collections. How do you track your collections? Do you have a tool to monitor the ups and downs with a simple glance at a chart? The tools to assess and track collections metrics are built into our software and your Practice Success Coach will help you to understand these metrics and their relationships to other metrics. These Key Performance Indicators (KPIs) must be measured to know the health of your Practice. The KPIs can be seen at a glance with our radar chart and histograms, right on your home page. Learn more with the free webinar that can be viewed right on this page. Read the transcript: Jason: I thank all of you for spending some time with us on Tuesday afternoon, except for us here in California where it’s still the morning. Just got off the phone with [inaudible 00:00:08] in California. They were surfing earlier today. And now they’re gonna go in for their shift. Jessica: That would be nice. [inaudible 00:00:20] and cold here. Jason: Yeah. To start different, I asked them to stop describing their day to me. I just wasn’t interested in hearing anymore. But that’s okay. They were nice about it. They were really nice about it. But I’ve got Jessica Pancoast, the head of our training helpdesk team. And I am Jason Barnes, and I’m a chief operations officer here. And we’re continuing with our theme of assessing your practice on a regular basis. We wanna make sure that all the practices that work with us or if you don’t work with us and you’re thinking about working with us, how do you get your finger on the pulse of the practice so that you can tell what’s happening with your practice and whether or not there’s a moment during the month or week where you can tell, “Hey, things are not going well. Things are off the rails. How do I recover?” So we went over last time what are the metrics we should be looking at. And the first one was your collections. We then broke those down into two subcategories, your insurance and your cash collections. And so, today, we’re actually gonna spend some time going over that. And so, as always, our format is we mute everyone. There’s just too many people that come to have an open conversation. So should you have any questions, please chat them in, and we’d be happy to answer them as they come. So what I’m gonna do here is that…and I actually brought up data for one of our practices here. It’s anonymous at this point. But I do wanna focus on it for a moment. This practice is one of our more proficient and highly influential practices. And I know I’m thrilled that they’re with us, because they teach us a lot about how to run a practice as well. The art of practice management is always evolving. Nobody has all of the answers. But, together, we come pretty close with this particular practice. So we’re actually going to review this briefly. This is what we call our radar chart. And what this is is it allows you to look at practice performance across a lot of different metrics all in one view with two snapshots, and this particular snapshot goes over a long time period. That’s time period of October of 2014 to February of 2016. And so were able to take a look… Jessica: It’s okay if you don’t have it filled in. Jason: Oh, well, that’s not the way I wanted that to happen. I’m just looking if there’s any other profile that I can use. So what we’re gonna do is…unfortunately, this doesn’t allow me to drill into the historical data. Right now, you can see that the total collected is $93,000 for the month of October of 2014. And for the month of February, they’re projected to hit $96,505. It might be hard to see. That’s why I’m reading it out. No one knows if that’s good or bad. How do you know where or not collections are where they’re supposed to be or whether or not you’re going to perform well this month or underperform? Why? Why is it so challenging, because you might have a lot of visits this month? And if you look, they have 1,174 visits and $96,000 collected. We can tell because this is what their visit count is up here in the top. But a year and a half ago, Jess, they had 2,169 visits and almost the same amount in collection, $93,000. Today, we wanna talk about how these numbers don’t exactly add up. You wanna look at collections, but a lot of things can cause collections. One of the things that practices often do is try and correlate the high visits to high collections. You typically think, “If my visits go up, my collections should go up.” Most practices, that ends up being true. But in this particular case, collections went up, and the reason I choose this particular month is visits are way, way down. The reason for this is the month in which you’re collecting money typically isn’t the month that you saw the patient that those collections are attributed to a distribution of payments that come from the previous month, the previous six months. They can come from as far away for a personal injury account that reached a settlement on some sort of litigation from two years ago. So that’s one way of looking at it is you’re gonna have the bank account, fill up this month with payments for dates of service that range for the last two years. But their target and when they hit it is this month. So how on earth is a practice owner supposed to know whether
Top 10 Metrics You Should Track
What Metrics Should You Track in Your Practice? Are metrics important to you? Our clients have determined that these are the most important metrics to track in your practice: Collections, Patients Visits, Charges, New Patients, No Shows, No Future Appointments, Accounts Receivable, Unbilled Visits, Unsigned Notes and Claims needing to be corrected by the Practice. They’re related to each other and they affect each other. How do you track them? Do you have a tool to monitor them with a simple glance at a chart? Do you have a radar chart or a histogram that you can understand with a quick look on the home screen? The tools to track these metrics are built into our software and your Practice Success Coach will help you to understand the numbers and their relationships to the others. These Key Performance Indicators (KPIs) must be measured to know the health of your Practice. You’ll be able to see if you’re reaching your goals instantly because two time ranges compared show your improvements. Learn more with the free webinar that can be viewed right on this page. Read the transcript: This week’s webinar, the topic for this week is How to Measure the Success of Your Practice. Really what to measure? What things as a practice owner should you be looking at? What things should you have in place as weekly, monthly, yearly things that should be measured and then managed? So today is going to be which metrics you should look at, and we can talk about frequency, but that frequency is only recommended. You as a practice owner will be able to choose whatever frequency you’re looking at there. and we’ll actually get into how to find information within our system so practice owners can have this happen a little bit more easily should they be concerned about something, so the key indicators are going to be discussed today. And aside from that though, we’re going to…well, first I’ll start by introducing myself. My name is Jason Barnes, I’m the Chief Operations Officer here, and I may have been sitting here for about six and a half now helping practice owners figure out what to measure, and how to measure it in their practices. So what things should be measured, first of all? And why do you need to do it? And how it is going to begin? When you talk about the success of your practice, I have differing opinions from one practice owner to another. Some practice owners want to measure it on the amount of money that we’ve brought in. Others, the number of visits. Both of those numbers are very important, I would recommend that they both be looked at. But at the end of the day, you’re going to have to figure out which one is more important to you because there can be only one top number that will drive your practice and typically that number is dollars. A lot of practice owners prefer to look at visits but visits can be viewed in a number of different ways. So looking at this moving forward, we’re gonna take it down to the ones that we talk about the most, the ones that we’re going to utilize while actually making recommendations to practice. Collections. Now, collections can be viewed in a couple of different ways. The amount of money in your bank account, the amount of money posted in your system. If they’re the same amount of money, you’re doing really well, but if they’re not the same amount of money you’ve got a problem, and we need to figure out why there could be an issue there. But where do collections come from? And if they’re low, what can be done about them? So the first thing to show you is a diagram. You have a practice here…and I’ll make this slightly larger. You have a practice here with three different numbers on it, right? The blue line is their total collected, their green line is their cash collected, and their red line is their insurance collected. As trends would go, it looks like they’re trending down as they went in from the end of the year to the beginning of this year. It’s pretty typical for the end of the year where you’re having less [ inaudible 00:03:16] visits due to the holidays than in the beginning of the year where you see deductibles kick in. However, if you were to contrast that over patient visits, this is the same exact timeframe right now, you would know that visits dictate your collections. But there’s a big trend of going down from 2,088 ending at a much, much lower number here in the 1,400 range. So for this particular example, I brought up and put together a few diagrams. If you’re looking to increase collections, if the collections are indicating that they’re going down, there are a few obvious places to look, like going to visits. You would have to increase patient visits or you would have to fight underpayments. So if your visits weren’t going down, it means that the amount of money you were getting paid was going down. So there’s really only two ways that you could look at the metric of collections, two possible things that could be bringing it down. Either my visits went down or the amount I’m getting paid per visit went down. Either way, you have to know what to do next and which metric to look at next. So visits are fairly easy. You know, if you check somebody in, that’s a visit, and underpayment is a much more challenging thing. And I’d like for you guys to see a separate webinar we did on fighting underpayments and you can find it in any of our websites to go over how we do that. But then what? What is it that you’re gonna change? How is it you’re gonna manage your practice if you have
Can You Increase Your Cash Flow This Year?
How Can You Increase Your Practice Income? By using our built-in Point-of-Sale (POS) system! Use a bar code scanner to create an inventory that your patients would be interested in purchasing. Use the same scanner to check out your sales and your inventory will be controlled automatically. A task will open to alert you when products need to be re-stocked. Learn all about your POS system with this free webinar. See how easy it is to track your product sales and then see an increase in your bottom line. See the POS system in action and learn more by watching this free webinar on this page right now. Read the transcript: Jason: All right, we’re gonna kick off today. My name is Jason Barnes, and I’m here with Jessica Pancoast, head of our support team, our help desk teams. Excuse me, I said support. I meant, training team and help desk team. And today we are going to discuss point of sale items. And we would love it if anyone had a question at any moment during this, don’t hope that we’ll cover it. Type in your question. Jess, where do they go to type in the question? Jess: It may also already be open on the left-hand side of your screen. If it’s not, at the top left, there will be a button that says, “Show chat,” and you can click on that, and then you’ll have the chat window on the left side, and you can enter your question down at the bottom. Jason: Awesome. So more and more with the practices that are using our system, we see that it’s a core offering in a major part of their business to sell products, different services that are not covered by insurance, that they only expect patients to pay in cash, you know, credit or check. And so we wanna make sure everyone understands how, number one, make sure that their services are coded, entered with associated prices or MSRPs, that they have a good understanding of how those items are entered and bundled underneath the patient accounting scheduler. And then we can show them how to actually look these items up from a reporting perspective, to see which positions, which locations, and which products are actually selling. And then on top of that, we wanna make sure that you are staying in control of your inventory. So that will be our agenda for today, to really walk you guys through our methodology, you know. As always, we have a specific way of doing things here within [inaudible 00:01:52], and we wanna automate as much as we possibly can. When you have an inventory control problem, for instance, we don’t want you to manually count the bottles of vitamins or your Biofreeze or your TheraBands, [inaudible 00:02:08], etc each and every day. When you have a shipping come in, that’s the time where you know you had 36 come through the door, we wanna make sure that the only manual part of this process for checking inventory is when you actually go in and enter in 36 additional of the unit came in. This also goes for pricing for things. We wanna make sure that you don’t have to remember pricing in the beginning. We wanna create a fee schedule that will pull each and every time you sell the same item. And this also will…it will go for a couple different places, like scanning and barcodes, you know, remembering codes, descriptions of things. We wanna make sure you guys know all the tips and tricks to really get the flow of this down. So to start with, we’re…Jess, you mind taking them through how somebody would manually enter in a product that they wanted to sell and track in the system? Jess: Sure. So to configure your point of sale items, you’re gonna go to configuration practice, and then go down to point of sale, and you’re going to get the list of… Jason: One control boxes. Jess: Sure. Place them in there. All right. So you’ll get the list of any items that you already have in the system. So then you have two options of adding new ones. You can go to the last page if you do have more than 30 by using the next button up the top so you get the blank four lines. Or you can simply click on the Add New button, which will immediately bring you to four quick empty lines that you can fill in. So to enter a point of sale item, what you’re going to do is you’re going to go into the CPT field. What do I recommend is hitting enter. This will pop up a window to let you know what your next CH code is in order rather than trying to remember which one you left off on. And then you can just select the next one. If you do try to reuse the CH code, you’re gonna run the error of there’s nothing to save. And it does have to be a CH code. You can’t make up your own CPT codes for these items. The CH codes are all entered in our database so our system can use them. So that is how you’re going to pick the CPT code to begin with. The next field, you’re just going to enter in the price of whatever item you are trying to sell, and then you’ll enter the tax for your state. You have two options. You can do the percentage or .075 will be 7% or type in 7 and it will just be the percentage. Jason: It sure is smart. It knows whether or not you meant to put it that one and didn’t. Jess: Yes. Jason: Okay, all right. Jess: In this instance, yes. Short description, just a basic abbreviated description of the item that you’re selling. I’m just going to make up that we’re selling a wrist brace.
Can You Spend Your Care Plan Escrow Account?
Your Escrow Account – How Do You Track it? Learn about your care plan escrow account and about how to legally administer the account. Can you spend it? Should it be kept separate? How do you track it for every patient with a care plan? What’s your total? This account is the money that your patients have paid in advance for their care and you’re supposed to hold it until the appropriate time to pay for their treatments. See how easy it is to track your account by date range and then see a total with a few clicks in our software. See it and learn more by watching this free webinar on this page right now. Read the transcript: Jason: Well, welcome, everyone. My name’s Jason Barnes, and I’m the Chief Operations Officer here, and I just love talking to people who are looking to solve problems. And today, we received a request from a fairly number of our clients to learn how to better track and understand a single topic, which I’ll introduce here in just one second. But with me is Jessica Pancoast, who is the head of our Training and Help Desk teams, so we’re gonna be co-presenting this particular one today. To start off with, we’ll define the feature/the problem that we’re trying to solve. When a patient walks into an office and agrees to a particular care plan, there are three ways of handling this particular incident, right? They can make payments as they go, co-payments, whether or not they’ve got insurance or if they agree to an all-cash plan, they can do that. It’s not a problem. Jess, I would say we’ve got lots of practices operating successfully in this particular model, right? Jessica: Yes. Jason: Not an issue. But then the next two can help us run into a problem or two as patients prepay or have recurring payments for their treatment plans. There are three scenarios doctors can find themselves in. Now, one, they can be in a state that doesn’t even allow this as I’ve listed here as our second item. Some states require separate accounts, but any way you look at it, regardless of whether or not you can or can’t take prepayments, if you have one, you have to track it. And I’ll start with, you know, I will quote, I didn’t write this quote down, one of our doctors who said, “If I was to die tomorrow,” Jess, correct me if I’m wrong, “If I was to die tomorrow, I need to know how much I owe my patients.” And so, that is the correct quote? Jessica: Yes, or rather, this is how much the staff needs to give the patients back as he’d be dead. So… Jason: Excellent clarification. So today we’re talking about escrow accounts. Escrow accounts represent the money that a patient has paid for their services that an office has not earned yet. So today we’re gonna to talk about not only why you should do it for good accounting practices, but some of you might have real legal motivation to actually do this. I know in the State of New Jersey, prepaying for, let’s just say, any type of service can be illegal. So, you have to really watch what you’re doing. But in most areas, there are lots and lots and lots of patients who prepay or set up recurring payments to pay for their care with the doctor’s office. So today, we’re gonna talk about how to solve that problem and what is that we can do to help you keep track of it so that you can do a few things. And to cut to the chase, if you’ve got a bank account that’s separate, you’ll have to keep X number of dollars in that account. If you don’t have a separate bank account, for balancing reasons, you need to make sure you keep at least a certain amount in that bank account cover the credits. I’m not a tax expert. I’m not a compliance expert. You can always contact one, but they will share some information that you do need to keep certain number of dollars in your accounts to cover the credits that you need to for patients that you have not yet rendered services for but have money on the books. So today, we’re actually gonna get into some of that information. So, I will get over here. This is our demonstration account. There’s not much information to show right here, but we’ve got a number of reports that will help people actually look information like this up. So, in our reporting menu or drop-down that anyone would have access to, we’ve got “Practice” and we have a “Care Plans” drop-down that will allow you to access to a whole bunch of other things. In this particular case, there are lots of different ways to keep track of the finances for any individual, patient, or group of patients. Our best practice recommendation is that every single patient will have a care plan if you plan on seeing them more than once. You can look up balances, you can see what the expectations are, which will help you forecast what your revenue for the following month would look like, so it’s a great tool. But for this one, this Care Plan Escrow Report, this is the one that we utilize to help you as a practice figure out how much cash you need to have on hand should a patient do one of three things. Patient decides not to have any additional care, even though they’ve prepaid, you’ll have to have a policy on refunding dollars, most of the time you have to give it back. If a patient, you know, discontinues care, you’ll have to have a policy if they don’t contact you. You have $400 of their money, how are you going to know how long you can keep this money, whether or
What is a Monthly Health Check?
A Monthly Health Check will help you. Have you set your practice goals with your Practice Success Coach? A Monthly Health Check for your practice and how it can help you is what’s covered in this free webinar. Your Practice Success Coach will help you set goals and KPIs for your practice and then follow-up with you about them each month. You will know immediately if you’re on-track to reach your goals and if not, then your Practice Success Coach will suggest ways to make improvements. You will learn a lot about your no shows, no future appointments, your collections for cash and insurance, your accounts receivable over 120 days and other important metrics. If you don’t track them, then how can you improve? Learn more by watching this free webinar on this page right now. Read the transcript: Jason: Let’s start over. Welcome, everybody. I hope everyone dug out of the storm and has able to remain warm at least here on the East Coast from Kentucky up to Massachusetts. I know buried is just the right word to use as far as snow is concerned, buried. I know we dug out from nearly two and a half feet of snow here. And so I hope for those people who are only able to make this webinar today because they weren’t able to open their business doors, I hope that you find it useful and I hope we’re able to give you some information that you can act on here in the future. So just to give you an idea of who I am, Jason Barnes, I’m the Chief Operating Officer, and I’ve got Jessica Pancoast with me, who is the head of our Help Desk and Training teams. And we usually tag team these weekly webinars, bringing useful information to everyone today. We’re gonna spend 15 to 20 minutes on monthly health checks, answering questions like, “Why should I have a monthly health check? What is a monthly health check? How can a monthly health check help me with a member of our coaching staff?” And then we like to open it up for any other questions that you might have at the end of it, so while we stick around to see how we can answer any other questions. So first answering a question of, “When somebody looks for a new software package, what are they looking for?” Well, that ranges from one office to the next with what types of problems that they’re going to solve and what kind of solution they’re looking for. Yes, it would be hard for me to say, “I know where the right solution for every single office out there.” But I know we do have something for everybody. And just like people use personal trainers to get the most out of a gym experience or workout experience, I know that we have people who can personally train and apply the tools in our gym, meaning the software system, to help practice owners, office staff really get the most out of what they want to accomplish. So today we’re gonna be talking about teamwork and how we can use our coaching staff to help identify what the issues are in your practice and then at least supercharge it, make it as efficient as possible. And so I want to fast forward all the way to the end of what you’re supposed to be getting out of working with our coaching staff. When most practices come on board, we take a snap shot, take a snap shot of what their practice performance was. How many visits they have, how many patients they were seeing actively at any given time, and what their per visit reimbursement rate was, and then what their overall office collections. And then we compare that after six months for a random subset of those clients, and we found that in each and every situation where those offices were having monthly health checks with our team, we were able to see pretty stark improvements after a six-month time frame. So, if you’re wondering, “Well, you know, how would working with somebody help me achieve those types of results?” That’s what we’re gonna talk about today. So, to answer that next is, what is a monthly health check? The first thing a monthly health check is is a prioritization. Your office can be working on 20 different projects at once. I can start listing off things that you could be working on. You could be working on implementing new no-show, no future appointments. You could be trying to get a business within the business off the ground, trying to put together e-commerce or selling more point of sale items. You could have a problem with hiring associates, training staff members. All of these things are important. Everything I listed is super important. But while that’s happening, you don’t have some of these credentials. While that’s happening, you don’t have the ability to realize that temptations, you know, didn’t show up this week and they’re never coming back again. So what we like to do during monthly health checks is, first of all, create a table in which we know what is urgent, what’s a necessity, and how on earth we should approach triaging, the things that need to be done in your practice. Are we able to do this for everything? No, but most things that are under the umbrella of good, solid best practices of practice management, we’re gonna be able to provide solid insight. We put together this graph and this decision making tree to help really coach providers in a situation with what should I be focusing on first, right? So the urgent, not urgent, managing and focusing. Patients are the lifeblood of your office. They’re always the first thing that we have to make sure… If we’re not paying attention to them, we know that every other metric in your practice is going to
Care Plan Compliance built into Genesis Chiropractic Software
Care Plan Compliance can be Increased for Your Patients Automatically Care plan compliance – Do your patients comply with their care plan? What happens when your patients start to miss their visits? Are you notified? Do your care plans automate patient reminders? Discover how to automate your patient’s care plan with this 30 minute webinar. Learn more about our care plans and how you can more effectively utilize them and all of their features. Please fill out the form below and the video will begin to play right on this page. We know it’s a lot to ask for your email address, but we promise to never sell your email to another company. Read the transcript: Jason: All right, so welcome everybody. It’s about four minutes past the hour and we’re talking Care Plan Compliance today. Jessica Pancoast, head of our training team and our help desk, is with us, here to keep me on the straight and narrow path, which she can no longer do this week anyway with an odd glance or two because we’re in separate locations which happens infrequently. So she’ll have to figure out some other way of doing it. That being said, we’ve got quite a few people today that are joining us. We’re going to start sharing screens right now and we’re going to get kicked off. So because so Jasony people are with us today and almost as always, please…what do we have here? You’re going to have to chat in questions and please, you’re welcome to do so. We still have a discrepancy of about six people, Jess, that are in the web portion of it but not in the audio portion. Jessica: All right. I’ll send another message while you start sharing your screen. Jason: Awesome. Thank you so much. A patient walks through your door. Maybe they’ve never heard of the type of treatment that you’re going to propose and they’re not necessarily up on, you know, what they can do to help themselves get better. They’ve been on medications forever. They want to make better choices. They’ve never thought about health care costs being what they’re proposed. When you see them, they’ve only paid some copays throughout the year and the drugs always seem like they were so worth it, but they don’t feel right and they’ve never felt right and what you’re telling them to do is a complete and total deviation of what they’ve been told their entire lives constitutes health care. Today we’re talking about that big change that needs to take place, how patients perceive it, how often they need to be talked about to…how often they need the reminder, I should say, of how important the commitment they made is, and if they don’t do it all, that they’re not going to see the results. You might be asking yourself, “Well, I really just want to see a care plan that helps me with the finances.” We’ve actually gone over the financial aspect of care plans in this forum before. We’ve created those webinar links and they’re available. We can send them to you, you know, send us some feedback at the end of them if you’re struggling to find them. We will make sure we email out those links to the webinars we’ve done in the past about the financial portion of it. But today we’re talking about those patients that, they were committed at the time they walked through the door, they went in for a report of findings, they signed up for our care plan, and they knew it. Intellectually it made sense to them, academically it made sense to them. They committed to a care plan of x number of visits, but it’s a complete and total lifestyle change. Everyone here knows that they need to be sold again. They need reminders. What types of reminders are we talking about today? Today we’re talking about those reminders both in and out of the office. We’re talking about automating those reminders, we’re talking about reminding them of the commitment that they made, we’re talking today about how you can use a system to prompt you and your staff to make those connections. We know that not every single patient will stay a patient for life, but we can do whatever possible to make that number as large as it can possibly be. And without these reminders, we found that practices have…not all of them, but a lot of them have struggled to get the results that they’re looking for. So I want to make sure that everyone viewing today knows it’s available to them. A patient comes through the door…let me move this over here and we’ll start back from the beginning…for their first appointment. Their first appointment, you can set up all sorts of reminders. Let’s make sure they get calls, text messages, emails about the appointment. That’s the first set of reminders that we can talk about here. And I’ll just bring up one example of a third party carrier…and we talked about this last time…that we’re really pleased with and we’ve got a lot of good feedback on and that’s Zingit. Zingit reminder call, we have a lot of other options, but this is one of the premier ways that you can use to keep in touch with a patient, reminding them of a visit. However, is it just reminding them of a visit that we want to do or is there more? So today there’s also now SMS marketing that they’re offering. So if you’re using us right now or you’re considering using us as a platform to meet your practice’s needs, we want to talk about reminders that not only are targeted at letting them know, “Hey, you committed to a visit,” but why they’ve committed to a visit. We don’t offer this ourselves as a technology platform, Vericle, but what we do offer is the access to get information. How is it
How to Increase Collections for Your Chiropractic Practice
Increase Collections with Your Provider Workbench Increase Collections from insurance companies by watching this 35 minute webinar. Learn how to increase your insurance collections by getting every claim paid in full and on-time. Your provider workbench lists every claim that needs your attention and once you provide the missing information, they get re-submitted and get paid. It’s much easier than trying to determine what needs to be done from a list of claims in a report. Watch the webinar immediately right on this page by filling out your name and email address. We know it’s a lot to ask for your email address and we promise not to ever sell it to another company. Read the transcript: Jason: So, we’ll get started here in just a minute. During the holiday season, Jess, just to kinda kick off this conversation. I probably had more conversations with our providers, our actual customers than I had maybe the previous three or four months because we’re covering so much. And patient volumes were down, so you had time to actually look at collections. And I think most were just saying, “Oh, we’re doing fairly well. I’d just like to see if we can do better.” But then there was one provider who had a conversation with some other of his trusted peers. And they’re an in-house provider in Texas, and by in-house just for anyone listening in, I simply mean that our billing team isn’t doing the follow-up and the posting. They’re doing that in their own office and frankly they know what they’re doing. They’re not an office that needs a lot of direction. They got some top notch people. And they were asking me, you know, about the workbench and I said, “Well, you’ve got an issue with yours and I’ll tie this into our topic here in just a second.” Their office has been so used to following up on claims a certain way that they would print lists of claims, put them on their Excel spreadsheets and then organize them how they’re used to for years and years and years. And they’ve got 20 years of experience so they knew what they were doing. And so the results were okay. They weren’t spectacular but they were okay. And because I said to him, “Listen, I’m really worried about your collections right now because I see that your workbench claims are so high.” And he said, well, for anonymity’s sake, I’ll just call her Jessica. Jessica, you know, was on the call and said, “Oh, I just don’t do it that way.” And so today, we’re gonna talk about what way people use our system to follow-up on claims and what best practices are. Because Jessica is an expert. She’s a billing expert. She knows more than I’ll ever know about medical billing. She cared about the practice, she was engaged. Jessica was doing the right thing, it’s just that nobody knew about it. And so I wanted to help Jessica accomplish her goals but also give the practice on her some piece of mind as to how to check up on Jessica should something go wrong. Because Jessica could win the lottery, Jessica might have to quit and move somewhere else, you know, there are lots of things that can happen. And so today, we’re gonna change our focus to not necessarily billing perforJasonce, per se, but the thing that helps you achieve billing perforJasonce and that is the tool in our system that helps identify claims that need an action. That action can vary and we’re gonna talk about what type of actions, you know, can be done. But more importantly, what the methodology is to choose and identify those claims that need follow up. And so that’s how we’re gonna spend this first 15 to 20 minutes of today’s time together. And then after that, we’re gonna open it up to any questions that anybody has regarding this topic or any other topic. So to do that, we’re actually gonna jump right into this topic and talk about measuring. We’ve done that here before and we’re gonna start off the same way. I’m gonna blow this up, Jess, to make it really easy for our viewers/listeners, webinar participants to see this. And I’m gonna start by focusing really largely on our dashboard. We’ve gone over this before but we’re gonna focus on a few numbers. Our 32,000 is our total outstanding accounts receivable. Those are the insurance charges that have either just been submitted or I don’t care if they were submitted ten years ago. If they still have a balance on them they’re gonna show show up here. Then we break those numbers down into buckets, 26,000, 4,600, and zero. I’ve talked about this on this program before but we like to measure how long it takes for a practice to get paid. If that practice is getting paid in 30 days, everything is great. If that practice is getting paid in 30 days, everything is great. That practice is not getting paid in 30 days and we have our 120-day bucket, meaning those charges, you know, our date of service from over 120 days ago, we get worried. Not just a little worried, we know that the likelihood of collecting on those claims goes way, way down. So today, we’re gonna talk about how to address the total outstanding backlogs that comprises an accounts receivable of 32,419. When I was on the phone with our hypothetical, Jessica, who is a real person in Texas, I asked her the question. I wish you could have been on this phone call, it was great because her answer made a lot of sense and I’d like to move our discussion and look at those particular claims. I asked her, “Well, how do you know which claims are gonna follow up on?” She goes, “I always work the hardest ones first.” That’s surprising, right? I can see the
Increase Collections In Your Chiropractic Office
Use Payor Allowed Amounts to Increase Collections Increase collections from insurance companies by viewing this free 30 minute webinar. See how to use Payor Allowed Amounts to check if you have been paid on-time and in full for your services by the insurance companies. This built-in feature of our Genesis Chiropractic Software shows what you’re supposed to be paid for various CPT codes that you bill out. Use this to actually see what you were paid and then you can see if it’s an underpayment or not. Insurance companies are known to underpay by “mistake” as they try to keep money that should be paid to your Chiropractic practice. If an underpayment is detected then the claim can be sent to your billing team for follow-up with that insurance company. Let them get to the bottom of it for you. Watch the webinar immediately right on this page. Read the transcript: Jason: Welcome to those who are just joining, we are going to start in just a moment here. Waiting just for a few more people to jump from the web section to the audio section and then we’ll get today’s webinar started. Thanks for joining us. You’ll notice that you’re all muted and we ask that you check your questions in so that we can answer them as the webinar goes on. We’re going to start, we’re going to spend about 10 to 15 minutes on our topic today which is Collections, very specific to Collections, the Payer Allowed feature in our system, and we’ll talk about why it’s important and then we’ll open this up to any type of question that you might have after that. So, I’m looking forward and we’ll give you…actually it’s 2:05 now, Jessica. Let’s get started. So, my name is Jason Barnes, chief operations officer here and this is starting to sound like a broken record, isn’t it? Jessica: A little bit. Jason: As always. Jessica Pancost [SP], the head of our training and help desk team here at our organization, is co-hosting. So, today we are talking about a topic near and dear to pretty much every practice owner that we have and then a whole bunch of staff who are directly impacted by collections. And so, today we’re talking about collections, so we’re going to spend a little bit of the time talking, not necessarily about why collections are important, I think that one’s self-explanatory unless you want to spend some time on that Jess? Jessica: No. Jason: You’re good? but we want to talk about how to measure collections. Want to talk about how to break it down in two separate areas where a practice owner can make sure A, all their visits are getting paid, and B, all the visits are getting paid the right amount. Today, we’re going to primarily focus on the second of the two problems we discussed. The first problem of making sure all visits are getting paid, it’s not necessarily a simple problem to solve. However, we will spend just a moment in a broad stroke on how we approach that, and it has to do with our dashboard. You can see here that I’ve blown up one of the most important parts of our home screen and it’s the dashboard, here of course, in our dummy practice where we’re going to look at collections month to date, total outstanding accounts receivable, meaning all of the charges that need to be followed up on from an insurance perspective, and then we break down those accounts receivable into three separate buckets. The accounts receivable will be on 30 days, beyond 60 days and beyond 120 days. So, in this particular case, there are $32,419 total outstanding accounts receivable, $26,000, $6,000 and then zero dollars beyond 120 Days. We break this into percentages so that folks can measure, not only compared to themselves, but to the industry, how well they’re doing at making sure all visits are getting paid. Good question, Jess. “How do I know if my accounts receivable is really low and all our visits are getting paid?” It basically translates into if you have a visit that’s not paid, that’s sitting out there past 120 days, the likelihood of collecting on it, I don’t care if it’s from a patient or an insurance company, goes down significantly. Your goal as a practice owner should be to monitor this number. This zero dollars is unheard of, but it happens, and we can start talking about ways that it happens in this webinar series, but this is a great indication that you’re getting all of your visits paid. If your accounts receivable over 120 days is very, very low, one, two percent, it means that you’re getting 98%, 99% of your visits paid. And the rest of them are either getting written off, appropriately we hope, but there’s ways of tracking that as well or they’re being moved into a paid status which is the ultimate goal. So, if you know that your visits are getting paid, and again that’s not where we’re going to be spending the bulk of our time today, the other one is, “Are your visits getting paid the right amount?” And I ask a bunch of interrogative questions today want to go over the answers to them. What is the right amount? Jess, how does, you’re talking to somebody about collections, do you have any idea, you know, to tell them if they’re getting paid the right amount for their CPT codes? Jessica: No. Jason: Why not? Jessica: I don’t know [inaudible 00:04:37], but different contracts and different states and everyone gets paid… Jason: Its complicated, it’s a complicated answer and the first thing we want to let all of our providers know is if it doesn’t seem simple for you, that’s correct, you’re not in a simple industry. What I need to establish before we start looking into this is it’s meant to be confusing, it’s meant to not
