Author Topic: Posting Patient Payments and Mailing out statements for providers...  (Read 1666 times)

Cmporter82

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Hi everyone,

Quick question for everyone who posts patient payments for providers.  How do they keep track of and send these to you?  One of my clients that I do this for has web based software and they use my PMS so they don't have access to it because only I do.  I do all the posting and they are horrible about sending me copay amounts.  I keep asking for just a list but they keep sending me copies of credit card receipts and even cash.  At the end of the week they just send me all these pdf or image files with all this stuff! lol

Thanks,

Courtney

PMRNC

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Re: Posting Patient Payments and Mailing out statements for providers...
« Reply #1 on: January 15, 2013, 09:51:01 AM »
Quote
Quick question for everyone who posts patient payments for providers.  How do they keep track of and send these to you?

I can answer this on how my clients do it, but the first question I would ask is how your contract is worded. My clients are responsible for certain things. I don't charge a % of collections anymore so if they don't report a patient payment the patient gets a statement, gets angry and lesson learned. Easy Cheesy. This is yet another problem for those charging a %. Not only is there a stink for potential fraud on the billers end but with being paid a portion of receivables it can be a bit tempting for providers to "forget"  :-[ :o ;)  My contract spells out all of their responsibilities. I designed daysheets and also I get the deposit slips at end of the day to rectify the days receivables. The deposit slip will indeed sometimes have one or two co-pays they missed on the daysheet or a patient that sent a check I wouldn't know of otherwise. Like I said, I don't get paid by a percentage, so if they leave off a deposit, it's usually rectified after the patient calls to complain, and with this system I have it does NOT happen often.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

Cmporter82

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Re: Posting Patient Payments and Mailing out statements for providers...
« Reply #2 on: January 15, 2013, 10:01:08 AM »
Thanks for the response! Where I live % billing is actually legal and I do it with one of my clients but I do not want to continue doing this because I think I am getting ripped off in a way.  My only problem is then figuring out a set amount.  What I was doing is kind of going off of what their average revenue would be and taking that %.  So, if their average revenue was $1000/month and I take 5% (5% is way too low in my opinion btw, so for anyone assuming that is rate please don't! lol) then my set fee would be $50.  Does this make sense?  Perhaps there is a better way of figuring this out.  This is the hardest part for me because I am currently talking to someone and they have 3 full time providers, its an optometry place same as another client.  I take a % of their revenue from patients whom the claim had to go through insurance.  To be honest, it's a lot of work on my end to keep track of everything.  Anyway, if I take the % by their total revenue it just seems like  A LOT of money since they are 3x as busy as my current client.  It's essentially 3x the amount of money.

Wondering if any of you guys have a set fee schedule, like if there are so many claims per week, etc?

Thanks again!

PMRNC

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Re: Posting Patient Payments and Mailing out statements for providers...
« Reply #3 on: January 15, 2013, 10:08:34 AM »
Quote
Thanks for the response! Where I live % billing is actually legal and I do it with one of my clients but I do not want to continue doing this because I think I am getting ripped off in a way.  My only problem is then figuring out a set amount.  What I was doing is kind of going off of what their average revenue would be and taking that %.  So, if their average revenue was $1000/month and I take 5% (5% is way too low in my opinion btw, so for anyone assuming that is rate please don't! lol) then my set fee would be $50.  Does this make sense?  Perhaps there is a better way of figuring this out.  This is the hardest part for me because I am currently talking to someone and they have 3 full time providers, its an optometry place same as another client.  I take a % of their revenue from patients whom the claim had to go through insurance.  To be honest, it's a lot of work on my end to keep track of everything.  Anyway, if I take the % by their total revenue it just seems like  A LOT of money since they are 3x as busy as my current client.  It's essentially 3x the amount of money.

Wondering if any of you guys have a set fee schedule, like if there are so many claims per week, etc?

Thanks again!

I got away from % billing back in PA, yes I'm in NY where the provider cannot enter into a fee-splitting arrangement but I had switched long before moving here and it was the BEST thing I ever did. Not only do I get paid for my work fairly but It's also a SUPER marketing tool because of how many billing companies flat out ignore the law. The minute you tell a shopping doctor that the billing company they are looking into does not have their best interest in mind, you pretty much land it :)    I charge a flat monthly fee with sliding scale to accommodate growth and my time. How I arrive at my fee is completely based on WHAT I WANT TO MAKE and the client isn't privy to that information, as it's not needed.   If you search the forum here I've got the formula for how I arrive at my monthly fee, it's nice and easy and you will actually gain HOURS back of your life when you do month end.   Also Alice and Michele have GREAT book, Pricing your services on their website at www.medicalbillinglive.com  :)   I also have various methods of pricing in our members only area in our getting started section of our website if you are a PMRNC member.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com