3 Keys to Growing Your Billing Service

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There has never been a better time to focus on growing your billing service. According to the 2014 Black Book Survey, many practices see outsourcing their revenue cycle management as one of the key things that can help them stay independent. In fact, 42% of small physician practices with employed billing staff hope to move billing out-of-house to an outsourcer in next twelve months.

In this webinar, billing service and marketing experts will help you understand what you need to do to take advantage of this growth in outsourcing. You’ll learn how to:

-Strengthen your marketing and online reputation
-Close more deals
-Use resources from Kareo to strengthen your business offerings

There are many tools that you can add to your arsenal to grow your business and revenue. Kareo can help.

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3 Keys to Growing Your Billing Service

  1. 1. PAGE 1 KAREO | @GoKareo; #KareoTipPAGE 1 3 Keys to Growing Your Billing Service
  2. 2. PAGE 2 KAREO | @GoKareo; #KareoTip Your Hosts Today… Tim Tyrell-Smith Jim Sholeff
  3. 3. PAGE 3 KAREO | @GoKareo; #KareoTip Our Schedule for Today… 1 Introduction & Welcome Tim & Jim 2 3 Keys to Growing Your Billing Service 3 Answer Questions
  4. 4. PAGE 4 KAREO | @GoKareo; #KareoTip Participate via Social Facebook.com/GoKareo Twitter.com/GoKareo http://kareo.ly/kareogroup We’ll be live tweeting during today’s webinar! How to participate: 1. Follow @GoKareo on Twitter 2. Join the conversation using #KareoTip 3. Join Building Best Practices group on LinkedIn
  5. 5. PAGE 5 KAREO | @GoKareo; #KareoTip Tim Tyrell-Smith  Director of Marketing Communications at Kareo  Brand and social marketing consultant  Expert at driving awareness and excitement with target customers  Passionate about small business success  Trained in marketing at Nestle, the world’s largest food and nutrition company
  6. 6. PAGE 6 KAREO | @GoKareo; #KareoTip Jim Sholeff  Founder of ECCO Health, a multi- specialty medical billing company  Currently, a Director at Kareo  Grew ECCO Health to over 250 customers  Developed ECCO’s unique business process outsourcing solution  Former medical practice manager  BS in Biochemistry from Indiana University
  7. 7. PAGE 7 KAREO | @GoKareo; #KareoTip Our Schedule for Today… 1 Introduction & Welcome Tim & Jim 2 3 Keys to Growing Your Billing Service 3 Answer Questions
  8. 8. PAGE 8 KAREO | @GoKareo; #KareoTip © Kareo, Inc. | 2011 8 Sponsored by PAGE KAREO | CONFIDENTIAL Why Engage Patients? According to the 2014 Black Book User Survey, 42% of solo and small practices are looking to outsource in the next 12 months 42%
  9. 9. PAGE 9 KAREO | @GoKareo; #KareoTip Agenda  Marketing & Reputation  Selling to Professionals  Strengthening Your Offerings
  10. 10. PAGE 10 KAREO | @GoKareo; #KareoTip You already have an online reputation so own it!
  11. 11. PAGE 11 KAREO | @GoKareo; #KareoTip Marketing & Reputation Website Social Media Events
  12. 12. PAGE 12 KAREO | @GoKareo; #KareoTip Rule of 7
  13. 13. PAGE 13 KAREO | @GoKareo; #KareoTip Website Modifiable Good SEO Useful Actionable
  14. 14. PAGE 14 KAREO | @GoKareo; #KareoTip Modifiable  Use a content management system (CMS).  Make sure more than one person can make updates.  Develop a calendar for updates and new content.  Know your standards and stick to them (fonts, colors, etc.).
  15. 15. PAGE 15 KAREO | @GoKareo; #KareoTip Maximize SEO  Create unique page titles  Use meta tags  Offer quality content Easy to read Focused on the topic Written for your audience  Use images
  16. 16. PAGE 16 KAREO | @GoKareo; #KareoTip Maximize SEO  If you’re seeking local business:  Make sure city name and keywords are in your content (i.e., Medical Billing Service in San Diego).  Include your full address on every page and make sure it is exactly the same in every usage.  Link your Google Maps listing to your website.
  17. 17. PAGE 17 KAREO | @GoKareo; #KareoTip Useful  Make it easy for visitors to find what they need.  Keep navigation clear and simple.  Ensure that all the important stuff is there:  Contact info on contact page and header or footer of every other page  Email address  Hours of operation  Services  Education and tools  Any policies customers should understand
  18. 18. PAGE 18 KAREO | @GoKareo; #KareoTip Actionable  Provide tools and features that allow customers and prospects to take action and engage:  Blog  Downloads (white papers, checklists, etc.)  Ability to schedule an appointment with a sales rep  Calendar of events or programs with registration  Online chat or email from the site
  19. 19. PAGE 19 KAREO | @GoKareo; #KareoTip Online Listings  Claim directory listings, especially Google Places
  20. 20. PAGE 20 KAREO | @GoKareo; #KareoTip © Kareo, Inc. | 2011 20 Sponsored by 73% of US adults use social networks
  21. 21. PAGE 21 KAREO | @GoKareo; #KareoTip Social Media Social Media  Be consistent across your website and social channels with your “brand”.  Invite customers to “like” and “follow” you on Facebook and Twitter.  Put links to your Facebook and Twitter pages on your website, business cards, and in your email signature.  Encourage your staff to “like” and “follow” your billing service and share.
  22. 22. PAGE 22 KAREO | @GoKareo; #KareoTip Social Media Social Media  Like and follow influencers (i.e., billing, practice management, local and regional societies)  Post regularly with tips, tricks, and hot news.  Interact with your followers.  Stay professional but also be personable.
  23. 23. PAGE 23 KAREO | @GoKareo; #KareoTip Events & Publications Look for new opportunities: • Share your expertise in local or regional industry blogs, publications, and at events. • Offer free education on hot topics like ICD-10 and Meaningful Use.
  24. 24. PAGE 24 KAREO | @GoKareo; #KareoTip Match problems with solutions to close sales
  25. 25. PAGE 25 KAREO | @GoKareo; #KareoTip Consultative Selling  “Looking for opportunities to match problems with solutions”  “An approach to selling in which customer needs are used as the basis for the sales dialogue”  “Solutions-based selling”
  26. 26. PAGE 26 KAREO | @GoKareo; #KareoTip 6 Easy Steps to Fame and Fortune  Prepare  Ask  Listen  Adjust  Inform  Qualify/Close
  27. 27. PAGE 27 KAREO | @GoKareo; #KareoTip Prepare  Know your solution.  Know your market.  Know how your prospects think.  Know your prospects.  Know your limitations.  Develop a play book.  Think about how you have evaluated services.
  28. 28. PAGE 28 KAREO | @GoKareo; #KareoTip Ask  What is the chief complaint?  H & P… open ended, leading questions.  Test the prospect’s understanding.  Tell me where it hurts.  Dig, grind, cry if you have to, commiserate.  Develop an understanding of the situation.  Develop a target list or framework for the entire evaluation process.  3 basic categories: Rev, Risk, Hassle.
  29. 29. PAGE 29 KAREO | @GoKareo; #KareoTip Listen  Listen for clues about the doctor/practice.  Evaluate what they know, what’s really bothering them.  Remember how doctors think. They may not know what they don’t know.  Listen until it hurts. Really.
  30. 30. PAGE 30 KAREO | @GoKareo; #KareoTip Adjust  Apply “SA” Fighter pilot training and Peyton Manning.  Who is the decision maker? Influencer?  Test your assumptions. Go back and ask follow up questions.  Pick your battles.  Circle back to our advantages.
  31. 31. PAGE 31 KAREO | @GoKareo; #KareoTip Stay In Steps 2, 3 & 4 Until... Ask ListenAdjust Develop a closing argument before leaving these steps in the process. “If you shoot for the king, you better not miss.”
  32. 32. PAGE 32 KAREO | @GoKareo; #KareoTip Inform … This Is the Hard Part  Based on the evaluation of the practice, tell them what is good and bad. Be direct, informative and above all, be honest.  Make sure the prospect knows what is important, what is significant and what the consequences are.  Based on what you know so far, offer your best advice. Be specific.
  33. 33. PAGE 33 KAREO | @GoKareo; #KareoTip Qualify/Close  If we’ve done a good job so far, this should be easy.  If the prospect pushes back, reinforce the good and bad consequences or key metrics you identified and discussed.  “Assumed sale”, “Stray dog”, “Matter of fact”  Be prepared to say this is not a good fit. A good “Leave” could be a future win.
  34. 34. PAGE 34 KAREO | @GoKareo; #KareoTip © Kareo, Inc. | 2011 34 Sponsored by PAGE KAREO | CONFIDENTIAL Why Engage Patients? 82% of practices aim to integrate practice management, EHR and outsourced billing with a single vendor.
  35. 35. PAGE 35 KAREO | @GoKareo; #KareoTip Strengthen Offerings Integrated PM & EHR Specialty Solutions Education & Resources
  36. 36. PAGE 36 KAREO | @GoKareo; #KareoTip Kareo PM & EHR
  37. 37. PAGE 37 KAREO | @GoKareo; #KareoTip Kareo Specialty EHR Partners Specialty Partner Neurology Amazing Charts Cardiology Nexus Clinical Chiropractic BackChart Dermatology & Plastic Surgery Modernizing Medicine Podiatry Amazing Charts General Surgery Nexus Clinical Nephrology Falcon Physical, Occupational & Speech Therapy WebPT Orthopedic Surgery ChartLogic Ophthalmology & Optometry Integrity Otolaryngology (ENT) ChartLogic Chronic Disease ElationEMR
  38. 38. PAGE 38 KAREO | @GoKareo; #KareoTip Kareo Marketplace • Kareo Partners • Online appt. scheduling • Text reminders • Recalls • Phone visits • Reputation Management
  39. 39. PAGE 39 KAREO | @GoKareo; #KareoTip Educational Resources Kareo.com/meaningful-use Kareo.com/ICD-10
  40. 40. PAGE 40 KAREO | @GoKareo; #KareoTip MBPP
  41. 41. PAGE 41 KAREO | @GoKareo; #KareoTip Our Schedule for Today… 1 Introduction & Welcome Tim & Jim 2 3 Ways to Grow Your Billing Service 3 Answer Questions
  42. 42. PAGE 42 KAREO | @GoKareo; #KareoTip Let’s Answer Your Questions Is it too late to think about Stage 1 attestation? 888.775.2736 x1 sales@kareo.com -- Questions After the Webinar --
  43. 43. PAGE 43 KAREO | @GoKareo; #KareoTip

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