2017’s Top 5: The Readers Have Spoken

Published December 28, 2017

2017s Top 5_The Readers Have Spoken | RMP Insights

It wouldn’t quite feel like the holidays without at least one “year in review” post to wrap up all that we have done in 2017. We dove into the archives to unearth all your favorite RMP Insights moments from this year and have created this countdown of the top 5 (plus) moments based on your engagement and feedback.

Top Webinar | Patient Collections 101: Concepts for Connecting Better & Collecting Better

What if you could get into the minds of your patients to understand what motivates them to pay (or not)? Now you can! In less than a hour you can get insights into what motivates patients to pay, the steps to follow for a successful collection call every time, and learn how to communicate more effectively for more comfortable patient conversations.

Download the Patient Collections 101 Webinar on Demand here

Top Resource | Collecting from Patients: An RMP Insights eBook

Patient responsibility now accounts for nearly one quarter of all revenue in the healthcare industry. Start collecting more of it! This eBook includes tips and best practices at each stage of the revenue cycle – from patient access to bad debt – for boosting receivables without sacrificing the patient experience.

Get your free copy of the Collecting from Patients eBook here

Top RMP Insights Moment | The Bloopers

We have one final chart-topping moment so great we had to add it to the list. You’ve seen the Stay Positive video, now take a peek behind the scenes at the year’s best bloopers. Many thanks to Eric Day and our Chief Sales Officer, Randy Tempest, for providing such golden comic relief.

The whole RMP family would like to thank you for another incredible year, we couldn’t do it without you. Be sure to stay tuned, we will be sharing some exciting news (and, of course, some great new content) in the new year and it’s starting to look like 2018 will be our best year yet!

Written by Ali Bechtel, Digital Marketing Manager

This information is not intended to be legal advice and may not be used as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area, nor should it be used to replace the advice of your own legal counsel.

8 Traits You Should Be Hiring For

Published November 16, 2017

8 Traits You Should Be Hiring For | RMP Insights

Human resources are the greatest advantage you have in an increasingly competitive market. For your healthcare organization to be successful it is equally as important to staff your team with great team members as it is to optimize your clinical and business processes. As we have built and developed our team with C.A.R.E., we have also identified 8 characteristics that you should be looking for within your existing staff, and when hiring new employees. Inspire these leadership principles in your staff and watch how quickly they help you reach your organizational goals.

No Excuses

“No excuses, no explanations.” – Tony Dungy

There are two kinds of people on every team: the ones who make excuses and the ones who get things done. Typically “excuse makers” already have an explanation in mind before they even begin a task, and entering into a commitment with that mindset gives them an excuse to fail before they even start. Making an excuse is a way to avoid failure, but great teammates (and great leaders) understand that failure is nothing but a learning opportunity unless it is allowed to become more than that. Solution-oriented people eliminate obstacles before they arise by asking questions.

Accountability

“Accountability breeds response-ability.” -Steven R. Covey

Those team members who do not make excuses will often also have a high level of accountability. It is important for the leaders in your organization to hold their staff accountable for their results and to provide frequent feedback about their performance. Accountability is not about scolding people for failing to meet their goals, but rather is about loving them enough to want to help them succeed. Encourage your team to have honest conversations about issues in their work. If it is important enough to be upset about it is important enough to talk about. (Otherwise, forget it!)

Servant Leadership

“People don’t care how much you know until they know how much you care.” – John Maxwell

One of the most important characteristics you can look for in your team members is servant leadership. Leaders should be there to serve their teams, and team members should be there to serve each other. After all, without internal support how can you possibly support a whole network of patients? Servant leadership requires building authentic relationships and giving your staff an opportunity to get to know each other. Only when they are serving each other, and holding each other accountable, will they really be committed to reaching shared goals.

Personal Example

“The most powerful leadership tool you have is your own personal example.” – John Wooden

Leadership that leads with a servant’s heart, and that is engaged, consistent, and genuine, is an example to the entire team of how they can serve others. You cannot expect a team to do more than its leaders are willing to, but it is important to remember that it isn’t just management who are viewed as leaders. Every department has those people who are looked to as an example. When everyone on your team is setting the right example, you can be sure that work ethic, integrity, and personal improvement will follow.

Passion

“Figure out what you are passionate about, enough to outwork everyone else it the world, because 90% of success in life is a direct result of how much effort you are willing to put forth. The trick is you have to be honest with yourself about what you are passionate about.” – Mark Schabel, CEO of RMP

It is unlikely that you will meet too many people who are passionate about collecting money from patients. Expecting your staff to love such a difficult task enough to want to be better than everyone else in the world is unrealistic. However, you can look for people who have identified what they are passionate about, and whose passion is in line with the goals and culture of your organization. That could be helping patients, or working together with their team. The best way to inspire passion in others is to help them honestly identify what they do love about their job and to embrace it.

Attitude

“The only disability in life is a negative attitude.” – Eric Day, Business Development for RMP, Founder of Stay Positive

Attitude is about how people choose to react to the world around them. Having a positive attitude requires sacrifice and a choice to rise of the circumstances. People who consistently make that choice are far more likely to act positively, and to set a positive example for others. To illustrate the importance of having the right attitude, consider this: only 1/3 of patients have indicated they would leave a practice due to service dissatisfaction to go to a competitor. The other 2/3 indicated they would leave as a result of the attitude or indifference of one employee.

Heart

“We don’t get burned out because of what we do. We get burned out because we forget why we do it.” – Jon Gordon

A heart-centered approach to business relies on the ability to look inward and reflect on goals and passions, and to understand why you are really doing what you are doing. Your team needs to have a firm understanding of why they are on the team; they need to feel valued, respected, listened to, and involved. If they are just there for a paycheck they will never be a great team member. But if they feel that they are valued and understand how they are part of the team they will have a better connection with their counterparts, and their leaders.

Belief

“Whether you think you can or think you can’t, you’re right.” – Henry Ford

Great teammates believe in themselves and in the rest of their team. They also need to believe in the mission and vision of your organization. This may be the hardest characteristic to determine, but if you are able to find passionate people who align with the goals of your team, who lead by example, and who have a positive and no-excuses attitude and show heart, then you have also found a person who will believe in themselves, and in you.

Want more tips for building a ridiculously successful team? Download our free team building webinar on demand!

Take this article with you! Click here for a printable version.

Written by Ali Bechtel, Digital Marketing Manager for RMP

How to Make a Successful Patient Collection Call in just 8 Steps

Published November 2, 2017

How to Make a Successful Collection Call in just 8 Steps | RMP Insights Blog

Calling patients to request payment can be stressful and difficult, but it doesn’t have to be. Like every other touch point you have with a patient, the first and most important requirement for a successful patient collection call is to create a connection. If you approach a financial call with the same attitude as a registration or follow-up call you will set a positive tone for the conversation, and that can go a long way.

But that may be easier said than done when you are met with objections, excuses, or a refusal to pay. So we have also identified 8 easy to follow steps to get you through every call successfully:

1. Identify the Patient

The very first step of every call is to identify that you have the correct patient on the line. This step serves two very important purposes: preventing a HIPAA violation by providing PHI to the wrong party, and establishing a feeling for the call. Start by asking the right question:

“Hello, may I please speak with John Smith?” This is not the right question. Anyone familiar with John, and who he may want to talk to, won’t ask for him this way. This introduction is going to lead him to assume that this is a call he doesn’t want to answer, and so “John isn’t available at the moment.”

“Hi, John?…Hello Mr. Smith…” A simple greeting like “Hi, John?” will make him much more comfortable and more likely to continue the conversation. After he confirms his name, follow-up with his last name to ensure that you have the right person on the phone.

2. Identify Yourself & Your Employer

Once you have identified the patient, let them know where you are calling from. Remember: patients often will not recognize the corporate name for your healthcare organization, but they will remember their doctor’s name. It is important for the patient to recognize where the call is coming from right away. If they don’t know who you are and you start asking for money there is a good chance they will become defensive or confused, which is not likely to lead to payment. Try this:

“Hello, John?”

“Yes?”

“Hi Mr. Smith, this is Mary calling from Dr. Jones’ office at Respiratory Specialists. How are you today?”

3. Request Payment in Full and Offer Methods of Payment

Yes, you want to ask this question right away. Respect their time and get right to the point of your call, especially if they are impatient or indicate they are in a hurry. This part can be difficult, so use your judgment. Review their history to determine whether it might be better to lead into the request by following up on their latest appointment, confirming their demographic information, or asking for any secondary insurance before requesting the balance.

When you are ready to ask for payment, request the balance in full 100% of the time. Often you will not get it, but if you do you have just saved yourself four steps, and you can skip to step 8.

Asking how much they can “put toward” their balance indicates that they are not required to make a full payment. Instead, try asking: “How short of the balance are you today?” This question forces them to think about their entire balance and work down to what they can pay, rather than starting from zero and trying to work them up to an acceptable amount.

4. Psychological Pause

Once you have requested payment in full, give the patient a chance to respond. It is tempting to fill the awkward silence that follows such a request, but you need to give them a chance to agree to pay, or to offer their objection. It is easier to work with a patient when their objection is clear, so it is critical to allow them to give it.

5. Determine the Problem

This can be the hardest part. If the problem is simply that they cannot afford the total amount you know you need to attempt to arrange a payment plan. However, if they offer an objection or excuse for why they should not have to pay the bill, it is now your responsibility to determine the real root of the problem.

Objections about their care or their appointment that didn’t come up right at the time of service often mask other underlying issues, like confusion about their bill or their coverage. Working to the core of the issue and answering any questions the patient has will help them take responsibility for the bill.

6. Find the Solution

Once you have determined the real issue behind the patient’s inability or unwillingness to pay, work with them to establish a payment arrangement that addresses that problem. Make sure the arrangement is mutually agreeable; it should suit the patient but also be acceptable under your practice’s financial policy.

7. Close the Arrangement

Once a payment plan has been arranged confirm all the details with the patient, including the implications of failure to comply. Discuss the steps that will be taken in the event of nonpayment as they are outlined in your practice’s financial policy. Be sure to specifically provide all time limits and to fully explain any caveats or restrictions.

8. Update your Records

You made it! You’ve helped the patient to take responsibility for their bill, and secured payment or made an acceptable arrangement. All that is left is to record the details, including any reasons given by the patient regarding their inability to pay. These objections may come back up in the future and having detailed notes can help with future conversations.

Payment plans are only successful when they are enforced, so if your charge capture system has the ability, set a notification for the dates on which payments are due to ensure that the patient is adhering to the arrangement.

Putting these steps in place can help increase revenue while maintaining a good relationship with your patients. Collecting money does not have to be difficult, and the call can create an opportunity to connect. Taking the time to understand the patient’s situation and showing a willingness to work with them will improve their experience with your healthcare organization and will keep them coming back.

Want more tips for improving self-pay or self-pay after insurance balances? Download our free Patient Collections 101 Webinar on Demand!