With the rise of High Deductible Insurance Plans and increased practice revenue coming directly from your patient receivables, it is extremely important for you to manage your patient receivables with a different mindset. Find out new ways to utilize billing options to reduce collection costs, increase profits and shorten the revenue cycle. CardChoice International is the trusted advisor to both the American Medical Billing Association and the Practice Management Institute, and has partnered with healthcare organizations, to educate their members on the best methods for revenue cycle management.

1. Industry leading Education
For Today
• Please ask questions!
• Today’s slides:
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• Today’s Webinar
§ How to increase your profits using Patient Payments on File, Recurring
& Online Bill Pay
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Copyright 2007-2015

2. Improving
Your
Pa/ent
Receivables
Presented
By:
Ray
McGrogan
CEO/President
CardChoice
Interna/onal
CardChoice
Interna/onal
Ø Registered
ISO/MSP
of
BMO
Harris
Bank,
Chicago,
IL
Trusted
Advisor
to:
Ø American
Medical
Billing
AssociaAon
Ø PracAce
Management
InsAtute
Ø NYSSCPA
“Employers
only
handle
the
money
–
it
is
the
customer
who
pays
the
wages”
-­‐
Henry
Ford
Copyright 2007-2015

3. Focus
on
Improving
Your
Pa/ent
Revenue
Today's
Agenda
v
Credit
Card
on
File
(CCOF)
–
Yes
you
can!
v
New
policies
and
procedures
set
by
Visa®
and
MasterCard®
v
Benefits
of
providing
pa/ent
es/mates
at
front
desk
v
Discuss
payment
trends
affec/ng
provider-­‐pa/ent
rela/onship
v
Changing
your
front
desk
roll
can
posi/vely
impact
revenue
v
Determine
your
average
billable
pa/ent
receivable
“Concentrate
all
your
thoughts
upon
the
work
at
hand.
The
sun’s
rays
do
not
burn
un>l
brought
to
a
focus.”
-­‐
Alexander
Graham
Bell
Copyright 2007-2015

4. Polling
Ques/on
#1
Copyright 2007-2015

5. Adop/ng
Credit
Card
On
File
(CCOF)
Today
is
Cri/cal
Source:
2009
McKinsey
survey
of
retail
health
care
consumers
12%
21%
31%
0%
5%
10%
15%
20%
25%
30%
35%
2007
2008
2010
Rapid Growth of Patient Responsibility
v
Provider
collec/on
rates
run
at
50%
to
70%
for
small-­‐dollar
liabili/es1
v
They
require
3.3
statements
resul/ng
in
an
average
Daily
Sales
Outstanding
of
105
days2
v
It
costs
from
$5
-­‐
$20
to
collect
from
pa/ents
who
do
pay
1
v
Visa®
has
iden/fied
healthcare
as
a
market
needing
significant
payment
processing
improvement3
1
Source:
2009
McKinsey
survey
of
retail
health
care
consumers
2
MGMA
3
Visa
–
AuthorizeFirst
Transac>on
Guidelines
“A
year
from
now
you
may
wish
you
had
started
today.”
-­‐
Karen
Lamb
Copyright 2007-2015

6. Polling
Ques/on
#2
Copyright 2007-2015

7. AuthorizeFirst
for
Healthcare
–
How
Does
It
Work?
1. CCOF
is
presented
to
pa/ent
as
a
payment
op/on
for
out-­‐of-­‐pocket
expense
2. Setup
Pre-­‐Authoriza/on
Payment
Op/on
v Provide
paAent
with
maximum
esAmated
amount
owed
v PaAent
provides
credit
card
v A
copy
of
the
signed
agreement
is
given
to
the
paAent
3. Claim
is
Adjudicated
v Match
the
claim
remiZance
(835/ERA)
to
the
corresponding
Pre-­‐AuthorizaAon
form
v Provider
submits
a
card
authorizaAon
for
up
to
the
maximum
agreed
amount
v Payment
is
processed
and
provider
receives
funds
within
24-­‐48
hours
“ProcrasAnaAon
is
the
thief
of
Ame,
collar
him.”
-­‐
Charles
Dickens
Copyright 2007-2015

8. Who
is
Eligible
to
Process
Visa
AuthorizeFirst
TransacAons?
Hotels
do
it
Car
rentals
do
it
Consumers
do
it
Copyright 2007-2015

9. Provide
A
Good
Faith
Es/mate
At
Point
Of
Care
52%
16%
29%
52%
are
willing
to
pay
by
Credit
or
Debit
Card
16%
are
willing
pay
by
check
29%
would
rather
wait
for
a
bill
0%
10%
20%
30%
40%
50%
60%
Source:
2009
McKinsey
survey
of
retail
health
care
consumers
Start
concentra/ng
on
the
2/3
of
pa/ents
that
want
to
pay
v
PaAents
that
are
willing
and
able
to
pay
v
PaAents
that
are
willing
but
unable
to
pay
v
PaAents
that
are
unwilling
to
pay
Copyright 2007-2015

10. Example
of
CCOF
Form
PCI
Compliance
Is
Mandatory
Do
Not
Store
CCOF
Form
In
Pa/ent
Records
ABC
Medical
Services
X
X
X
275.00
Steven
Tyler
Steven
Tyler
123
Sunset
Avenue
Any
City
HI
76543
4111
1111
1111
1111
03/16
Steven Tyler 1-­20-­15
Copyright 2007-2015

11. Polling
Ques/on
#3
Copyright 2007-2015

12. Benefits
of
CCOF
For
Provider
Secures
Payments
v Provides
addiAonal
payment
opAons
v Allows
paAents
to
make
payment
arrangements
while
they
are
sAll
at
your
office
Reduces
Costs
and
Accounts
Receivable
v Streamlines
the
post-­‐visit
billing
process
v Improves
cash
flow
Improves
Payment
and
Processing
Efficiencies
v
Lowers
bad
debt
v Provides
Amely
payment
for
services
aher
adjudicaAon
v Reduces
manual
resources
needed
to
process,
track,
and
research
delinquent
fees
v Enables
your
staff
to
control
and
manage
cash
v Promotes
ease
of
reconciliaAon
by
authorizing
and
processing
payments
only
aher
a
claim
is
fully
adjudicated
v PotenAal
to
increase
average
transacAon
size
by
20%
-­‐
30%
Copyright 2007-2015

13. Benefits
of
CCOF
For
Pa/ent
Increased
Convenience
v
AuthorizaAon
and
transacAon
occurs
only
aher
a
claim
has
been
adjudicated
v
Removes
the
inconvenience
of
paying
an
esAmated
amount
at
the
Ame
of
service
v
Eliminates
the
need
to
adjust
esAmated
payments
aher
a
claim
has
been
adjudicated
v Reduces
delinquent
or
collecAon
agency
v Saves
Ame
by
eliminaAng
the
need
to
mail
in
v
Eliminates
worry
about
missed
billing
due
dates
or
payments
v For
providers
offering
a
payment
plan,
AuthorizeFirst
allows
cardholders
to
make
billing
arrangements
that
fit
their
budget
Security
v Offers
paAent
protecAon
for
charges
that
the
paAent
did
not
approve
Rewards
v PaAents
may
take
advantage
of
program
benefits
and
earn
rewards
when
they
pay
with
their
Visa
card
Copyright 2007-2015

14. How
To
Provide
A
Pa/ent
Es/mate
v
Basic:
Educated
esAmate
or
fixed
amount
v
Moderate:
Generate
a
top
10
procedure
list
and
keep
it
at
the
front
desk
v
Advanced:
Generate
an
80%-­‐90%
top
receivable
amount
from
your
previous
statements
ü Remember:
You
are
not
required
to
provide
an
exact
esAmate
“I
measure
in
my
palm
and
use
my
eyes
to
es>mate
amounts;
a
tablespoon
is
a
full
palm
of
dried
spices.”
-­‐
Rachael
Ray
Copyright 2007-2015

15. Polling
Ques/on
#4
Copyright 2007-2015

16. “Insanity:
doing
the
same
thing
over
and
over
again
and
expec>ng
different
results”.
-­‐
Albert
Einstein
Online
Bill
Payments
Account
for
Over
Half
of
All
Bill
Payments
Copyright 2007-2015

17. Start
Promo/ng
Your
Online
Payment
Portal
Place
message
on
your
statements
Promote
in
office
with
signs
Copyright 2007-2015

18. What
are
you
doing
today
to
reduce
the
amount
of
statements
you
are
sending?
Determine
Your
Cost
of
Sending
Statements
How
Many
Statements
Do
You
Send
Per
Month?
900
What
is
Your
Cost
to
Generate
Statements?
On
Average
-­‐
$10.00
What
is
Your
Average
Receivable?
$150.00
In
this
example
is
costs
the
prac/ce
$9000/
revenue
cycle
to
bill
$135,000.00,
hoping
to
collect
50
to
70
percent.
Then
the
process
starts
again
next
month
Copyright 2007-2015

19. Reward
The
Front
Desk
Staff
v
Prepare
scripts
for
staff
to
learn
v
Roll
play
with
them
to
become
more
familiar
with
scripts
v
Reward
staff
for
gemng
credit
cards
on
file
ü
A
gih
card
to
a
favorite
restaurant
as
an
example
v
Set
goals
to
benchmark
their
success
ü
Try
to
get
10%
of
all
paAents
then
adjust
up
Do
not
let
your
pa/ents
leave
with
out
commimng
to
pay
their
por/on
of
the
bill.
In
my
opinion
If
you
do,
you
are
allowing
them
to
medically
shoplin!
Copyright 2007-2015

20. Ques/ons
?
Contact:
Ray
McGrogan
866.350.3200
rmcgrogan@cardchoice.com
Copyright 2007-2015

21. HIPAA Education Series sponsored by:
www.compliancy-group.com
855.85 HIPAA (855.854.4722)
The Guard:
• Intelligent web-based solution designed by auditors.
• Used by over 1,000 Covered Entities and Business Associates
• Quickly and cost-effectively Achieve, Illustrate, and
Maintain HIPAA, HITECH, Omnibus, and PCI Compliance.
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Features:
• Training, Policy & Procedure Templates Included
• Business Associate Management
• Document & Version Control
• Training & Attestations Tracking
• HIPAA Coaches to assist every step of the way
Copyright 2007-2015