Author Topic: Client After 2yrs.  (Read 4822 times)

sagemb

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Client After 2yrs.
« on: July 26, 2011, 12:05:33 AM »
I finally bagged my 2nd client. Between my 1st and this, I kept trying for 2yrs. Talk about a dumb sales guy. But I kept at it and it paid off. Well, I just signed him up, so technically, it WILL pay off.

It's a Family Practice which is something that most people try to avoid but it's still bread and butter. I've always worked with a Gastro @ 6% so I went in with that frame of mind. Good thing I didn't lay down the price right away or I would have been at a loss. I later found out that many FP in the area are paying anywhere from 8%-12%. So I later quoted him 10%, and he wasn't shocked at all to my amazement.

Turns out that FP or similar Primary Care doctors have a high volume and low collections amount. So their work is much tougher than average specialist. And I'm far from being ungrateful.

So if anyone has been in my shoes...looking for a doctor for a long time, JUST DON'T GIVE UP!
"Those who preach about making lemonade when life throws lemons your way are the same folks that end up drinking all your lemonade." - Adam Fisher

http://www.sagemb.com

laceyx08

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Re: Client After 2yrs.
« Reply #1 on: July 26, 2011, 01:28:07 AM »
thank you for sharing!  :)

Billergirlnyc

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Re: Client After 2yrs.
« Reply #2 on: July 26, 2011, 02:57:48 AM »
Congrats!  :)
Don't worry. Be happy.
~Dalia, CPC, CPC-H, RHIT.

Michele

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Re: Client After 2yrs.
« Reply #3 on: July 26, 2011, 07:32:33 AM »
Very happy for you!  We did FP and it was profitable for us.  I know a lot of billers say it's not profitable, but in our cases it was so I think you will be fine.  Feels good when your efforts finally come together!
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QueenAlicia

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Re: Client After 2yrs.
« Reply #4 on: July 26, 2011, 03:10:21 PM »
Congrats to you!

PMRNC

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Re: Client After 2yrs.
« Reply #5 on: July 27, 2011, 02:28:49 PM »
Why do they say FP is not profitable??  I've never heard that before
Linda Walker
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Michele

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Re: Client After 2yrs.
« Reply #6 on: July 28, 2011, 07:49:00 AM »
I have heard that before too and I've never understood it.  I don't know where it comes from.  One of my best clients was a 5 Dr Family Practice.  Very profitable, but we did a good job and it was very profitable for them as well.  It was a win win.
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PMRNC

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Re: Client After 2yrs.
« Reply #7 on: July 28, 2011, 09:58:14 AM »
When I started out I started out with mental health, later on when i restarted I started with just one FP practice with a physician and PA and made profit just from that one client alone.. I don't get it.  ??? 
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sagemb

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Re: Client After 2yrs.
« Reply #8 on: July 31, 2011, 07:26:08 AM »
Thanks to everyone for the support.
"Those who preach about making lemonade when life throws lemons your way are the same folks that end up drinking all your lemonade." - Adam Fisher

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billingandscanning

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Re: Client After 2yrs.
« Reply #9 on: August 11, 2011, 12:27:51 AM »
Congratulations on getting the contract!

sagemb

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Re: Client After 2yrs.
« Reply #10 on: August 12, 2011, 02:57:48 AM »
I'm back to square 1. I had turn down the doctor. I know it may be shocking some of you exp. folks could tell me if what i did was wrong.

I was asked by the doc to stop by couple weeks ago. I did, i gave my ear to undstand the problem he had w/ last biller. He she just one day left w/o notice & his billing is left in a rutt. I said i can help, he agreed... Long story short...i later did my math and quoted him10%. He siad dontworry about that yet cuz the rates for FP varies from 6-12%.

He said just come and take these 6 sample claims, work your magic, and we'll talk once paid. I did, & 4 of 6 got paid within4 days. 1 didnt because i was given wrong carrier details. The didnt becausse they gave the wrong provider id. When i called explaing all this he agreed...said to come back with an  agreement.

When i got there he read it all and didnt like the $1000 setup fee. I explained that its due to a very new software that hes forcing on me and that it needs more time to work with. Anyways being pushover, i waived. Then he brought up the fee. He didnt like that i should get more money for more work. It was a totally obsurd concept to him. Alsi that i should charge nothing more than 6% total for his billing w/ a $3k monthly cap. I explained that it was too low for a fp service what would happen at the end of the year when he will hire 2 more dr? He said dont worry youll still get your 6% w/ cap.

Ahhhh? Hello? I asked if that honestly sounds fair to him? He said whats fair is that drs shouldnt be forced to hire billers in the first place. If carriers & pts owe money, they should simply pay it. I said no one is forcing anyone, you can bill yourself if like. But these are my rates. Best i can do is maybe offer you 8% but i dont believe in any caps. I may even be willing offer 6%, + small flat fee per claim. But thats it. He said he cant. I thanked him for giving me an oppertuinity to get to know him better. Shook hand and cordially made my exit.

Here the question....what did i do wrong? Did i give him some wrong signals? What would u have done? 
"Those who preach about making lemonade when life throws lemons your way are the same folks that end up drinking all your lemonade." - Adam Fisher

http://www.sagemb.com

Michele

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Re: Client After 2yrs.
« Reply #11 on: August 12, 2011, 07:16:06 AM »
From what you've described, you didn't do anything wrong except not walk out sooner!  Sounds like he's got serious issues.  You didn't make the system.  The system is what it is.  If we let all providers pick what they want to pay or what they think is fair just imagine how it would be.  You work hard, do a good job, and deserve to be paid for your service.  Let him sit back and "wait" for his patients and the insurance carriers to pay him what he "thinks" they owe him.  He'll be eating at the local rescue mission! 

Maybe now you have a clue why the last biller walked and left him high and dry.  People don't usually do that when the dr is great to work for.  If he wants to pay 6% with a $3k cap and he finds someone who will sign him - he'll get what he pays for.  Anyone who values themselves would have walked.  You did the right thing. 
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Alice Scott

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Re: Client After 2yrs.
« Reply #12 on: August 12, 2011, 07:33:11 AM »
You picked the wrong doctor. :o

Alice
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DMK

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Re: Client After 2yrs.
« Reply #13 on: August 12, 2011, 10:05:03 AM »
Run....don't walk!  That guy's crazy! ::)

PMRNC

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Re: Client After 2yrs.
« Reply #14 on: August 12, 2011, 11:15:55 AM »
Well, that's ONE of the biggest reason's I got rid of % based billing.. most doctors really just believe it's a number pulled out of the air, and they wouldn't really be wrong  ;)  That said, it was MUCH easier to state "A" flat monthly fee after analyzing the practice because A) They know for most part what their bill is going to be ahead of time  and B) That number is personalized to him/her and you, meaning it's fair market value for your time!   Now if you still want to do % than I can't really say your wrong or you did anything wrong, but I have a saying I use if a doctor ever tries to haggle with me.. I simply tell them, You don't haggle with your accountant, your attorney, your malpractice carrier, your landlord or bank, so please don't do it with me"  One more word on the subject and I simply take the contract and leave.  When I design the flat fee, they get to see that I have designed the fee based on is practice and not just pulled a number out of the air or threw around some general fee averages that were made up by us billing companies to begin with.

As for the setup..this is where I have sort of a strategy and either it works or It doesn't.. (most times it does)   I tell a provider my setup fee is $XX  (my setup fee's vary according to the practice and the state of their accounts at the time, between $200 -$2000), I mark up the setup fee, for example $1000 and tell the provider that if he signs my contract by XX/XX/2011  I will take off $500.  This usually works as it's considered perceived value.  NOT charging a setup fee does cause provider's to think.. hmmm, sounds too good to be true, you don't want to appear desperate or like a doormat by waiving the whole thing.  My setup fee is NOT just for setup work.. it also serves as a security deposit because I have seen billing companies get used for a month or two only to be dropped when they get caught up, the setup fee also helps me see where the doctors true motives lie just by their reaction.. if I have one that says.. OMG that's outrageous, I'm not even going to offer them a deal because this is not a client who sees the value in my services.  Even with a billing companies very first client I never think it's a good idea to waive the whole thing or low ball the number to get the client, provider's DO talk and once you get labeled desperate or inexperienced and willing to take anything on cheap, it's not easy to get rid of that perception.  Stay consistent, and continue to tell yourself you are worth it, otherwise, without the self-confidence you shouldn't be doing this. (not speaking directly to you at all, just in general).   What we offer to provider's is INVALUABLE and we are WORTH it.  Never explain your fees, don't negotiate with a potential client who isn't going to be satisfied until you are working for free. 
Linda Walker
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