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Training Materials

Training Materials. Appointment Setting Services for Revenue Maximizer Plus January 2012. Healthcare Market Opportunity. 700,000 + physicians in the US Over 400,000 physician practices have 2+ docs 5,000 hospitals

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Training Materials

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  1. Training Materials Appointment Setting Services for Revenue Maximizer Plus January 2012

  2. Healthcare Market Opportunity • 700,000 + physicians in the US • Over 400,000 physician practices have 2+ docs • 5,000 hospitals • Higher co-pays, deductibles and unemployment have more revenues coming directly from patients • 3 years ago, patient out-of-pocket balances represented 8% of physicians’ revenue; today it represents nearly 30% • Shift requiring physicians to collect more from patients at the time of service • Future Reform only provides more of an opportunity

  3. Target Market • Specialists and/or $1M in total revenue • Primary: Ortho, OBGYN, Urgent Care, Urology, Cardio, Gastro, Pain Clinics, Radiology, Eye clinics, • Procedure-based specialty groups and Multi-location practices and Hospitals. • Secondary: Family Practice and Pediatricians • HL7 Compliant for integration to PMS

  4. The Current Environment Challenges with patient billing and collections • $300 billion in patient A/R growing to $660 billion by 2015 • $40-60 billion in bad debt • 26.3% of total accounts receivable (A/R) is attributed to patients and will continue to rise • 30% of patients walk out the door without paying a dime • 3.3 billing statements will be sent before a patient’s balance is paid in full • Only $15.77 of every $100 owed is recovered once turned over to collections

  5. The Current Environment Lack of information at point of care presents even further challenges • On average it takes a practice 10-15 minutes to verify a patient’s insurance eligibility • Forms of verification are inconsistent and relevant benefit information difficult to find • Phone verification increases labor costs • Failure to verify eligibility leads to delays in payment and rejected claims • 50% of the amount owed by the patient with insurance results in bad debt

  6. Healthcare Payments Landscape Across the Healthcare Payments Continuum… Check-In Point of Care / Back Office Post Service / Online Payments Patient Payment Portals Patient Kiosk Vendors PMS/EMR with Integrated Payments Print Statement Vendors Any Virtual or POS Terminal

  7. Phone Review Call scripts and Key Terminology

  8. Cold CallSales Process Cold Call/Intro Call: Gain interest and Discovery info Discovery: Qualify by gathering information to Schedule next meeting for solution presentation with TE Rep. Get the CFO, Practice Manager and/or the Physician on the Phone!

  9. Step 1: CoId Call / Intro Call Sample Hi my name is ______ with ____________. How are you doing today? Great!!! We focus on patient pay collections. Our objective as a company, in this climate of rising deductibles, is to make sure that your practice gets paid. What the patient owes represents a larger percentage of your bottom line revenue each year. We offer a low cost proven solution called the Revenue Maximizer Plus that will allow you to begin collecting ‘ALL’ of what a patient owes at the point of service, by any payment method, rather than sending out billing statements and crossing your fingers that they will send in payment. It also can integrate with your current PMS system. Are you interested in learning more about how our system can help you with your patient payments? Would this Thursday at 1:00 p.m. be a good time for you? Goal: Move to Discovery

  10. Scripting Key Points • Patient Pay Collections • Any method of payment • Card on File and Recurring payments • Work on any processing platform • Post in real time back into PMS • Eliminate chasing the patient and sending statements • Easy and quick to implement • Limited change in process • Patient Friendly

  11. Summary Scripting Points With Revenue Maximizer Plus System Your Practice will… • Increase Point of Care Collections • Decrease Billing Costs • Increase Patient Payment Convenience • Increase Cash Flow • Improve Patient Satisfaction • Integrate with your PMS

  12. Step 2: Discovery on the Phone (These are in order on purpose and build off each other)

  13. Step 2: Discovery TE/Partner info needed: What is the total revenue of the Practice? What is the total number of locations? Number of Drs in your practice? Current outstanding debt? Monthly amount of patients you see? Number of statements per year/per patient? What type of PMS do you use? Percent of time you validate Eligibility? Current cost per Eligibility check? Estimated Time per Eligibility check?

  14. TransEngen Client Testimonials and References Provide TransEngen Client Testimonials and References Video available also!

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