Blog
Get Ready to Make a Collection Phone Call
It’s okay to admit it: You really hate making those collection phone calls when a customer hasn’t paid. The fact is, few of us are accustomed to talking about money. You know if the conversation isn’t handled right, you could make a bad situation worse and lose that customer forever. At the same time, the
Dentists: Prepare your patients now, avoid collections later
Remaking a billing system to boost same-day payments from patients can make sense for any dental practice. When patients walk out the door without making a payment or paying off their deductible or co-pay, the cost of collecting falls on your practice. On top of that, your patients come with a range of financial habits;
Providers: How to build trust with millennial patients
The millennial generation recently hit a milestone of being the largest generation in the U.S. Even though they’re young adults and have fewer healthcare needs than their parents and grandparents, it’s important for providers to understand the needs and challenges of millennial patients in order to win them over, build trust, and keep those payments
Hospitals Can Teach Us Better Ways of Billing Patients
In the era of the high-deductible health plan, boosting payments can seem like a tall order for clinics as they’re billing patients. One way clinics and practices can help patients deal with the realities of their higher healthcare costs is to adapt and learn from the changes some hospitals have made to their billing systems.
State Rainy Day Funds Face Challenges
When people have to tap into their rainy day fund, it’s to account for surprise expenses. Sometimes we have to fix the furnace when it breaks down, pay for Junior’s field trip, or pay for a vet bill when the dog swallows a sock. Governments have rainy day funds for the same reasons, albeit on
Plan for Collections as a Last Resort
Most customers and clients do the right thing and offer payment for the goods and services they’ve received. Unfortunately, there are always some who put you off or fail to pay altogether. If your accounts receivables are getting too high, perhaps it’s time for a hard look at your financial system, and even plan for collections work on your
Investigate insurance company takeback claims
Accuracy and due diligence in accounts receivable management is key to any management of a practice or clinic. Still, unexpected setbacks will mar even the most flawless system, disrupting projections and cash flow. One of these is a tactic used to boost profits known as insurance company takebacks or recoupments. What happens is after the
Dos and Don’ts of Easy Financial Conversations
Revenue. In the end, it always comes down to revenue—even in matters as important as one’s oral health. Experienced dentists know this, and that leads dentists handling financial conversations with their patients delicately. Chances are good that you’ve had a few tough conversations already, and you may have more in the future. To help ensure
IC System Named a Top Workplace by the Star Tribune
IC System was named one of Minnesota’s top places to work by the Minneapolis Star Tribune! The Star Tribune made the 2017 Top Workplace announcement on June 21, having based their results on an employee feedback survey conducted by WorkplaceDynamics, an independent company that specializes in employee engagement and retention. Founded in 1938, IC System
Patient Bill Confusion: Creating a Drag on Your Revenue
It’s not just the insurance companies that are slow to pay—it’s also the patients. Nearly a quarter of healthcare providers say that slow-paying patients are a “significant challenge.” At least one underlying cause comes to mind: higher deductible plans. According to one survey, 39.4 percent of American patients don’t pay right away because they want
