C105 playing the collections, accounts receivable game

DISCLAIMER: This work, audio recordings and the accompanying handout, are the intellectual property of the clinician, and permission hasbeen granted to the Chicago Dental Society, its members, successors and assigns, for the unrestricted, absolute, perpetual, worldwide rightto distribute solely as an educational material at the scientific program being presented at the 2011 Midwinter Meeting. Permission has beengranted for this work to be shared for non-commercial education purposes only. No other use, including reproduction, retransmission in anyform or by any means or editing of the information may be made without the written permission of the author. The Chicago Dental Societydoes not assume any responsibility or liability for the content, accuracy, or compliance with applicable laws, and the Chicago Dental Societyshall not be sued for any claim involving the distribution of this work.

C105PLAYING THE COLLECTIONS, ACCOUNTS RECEIVABLE GAMELOIS BANTATHURSDAY, FEBRUARY 21

Chicago Dental Society MWM & REGIONAL MEETING COURSE EVALUATION

Speaker: Date:

Subject: Number of attendees:

PLEASE RATE YOUR SPEAKER AS TO: Excellent Good Fair Poor N/A• Subject selected................................. 4 3 2 1 0• Timeliness of subject ......................... 4 3 2 1 0• Comprehensiveness........................... 4 3 2 1 0• Meeting your expectations ................ 4 3 2 1 0• Content level...................................... 4 3 2 1 0

• Delivery .............................................. 4 3 2 1 0• Voice quality....................................... 4 3 2 1 0• Holding your interest ......................... 4 3 2 1 0

• Appropriate audiovisuals ................... 4 3 2 1 0• Effective audiovisuals ........................ 4 3 2 1 0• Overall evaluation of speaker ............ 4 3 2 1 0

• Overall evaluation of program........... 4 3 2 1 0

Should this speaker be invited for future meetings? Yes q No q

What topics of interest would you like to see covered in the future?

Comments (use reverse if you need additional space):

Name (requested but not required—please print):

RETURN EVALUATION CARD TO: DO NOT FOLD CARD. FOR CDS PERMANENT FILES.Chicago Dental SocietyAloysius F. Kleszynski, DDS401 N. Michigan Ave., Suite 200, Chicago, IL 60611-5585

Banta Consulting

No Games! Manage Collections &

Accounts Receivables…your Way

Sponsored by:

Chicago Dental Society

Banta Consulting, Inc.

Seminar Materials

Banta Consulting, Inc. Page 2 of 11 ©2000 updated annually

33010 E Pink Hill Rd [email protected] 816-847-2055-Office

Grain Valley, MO 64029 www.bantaconsulting.com 816-847-5962-Fax

No Games! Manage Insurance and Accounts Receivables…Your Way

presented by

Lois J. Banta


33010 NE Pink Hill Rd Grain Valley, MO 64029

816-847-2055 816-847-5962

[email protected] Website: www.bantaconsulting.com

Topics: Communication Skills

Narratives & Other Secrets

Tracking Insurance Claims

Tracking Accounts Receivable

Please note: This workshop is offered as information only and not as financial, accounting or legal advice.

Seminar attendees may make photocopies of these pages for internal office use only. These forms may not be copied for distribution to others.


Seminar Materials




Communication Skills

1. Getting to know your patient

Actual Size 7 ¼” X 2 1/8”

NEW PATIENT INFORMATION STICKER SAMPLE

Name Date Date of Appt

Street City State Zip

Home Phone Work Phone Cell Phone

Appointed for Referred by

Previous DDS Phone 2001Banta Consulting, Inc.

Last dental visit X-rays available? Date of request

Medical problems Pre Med?

Allergies Dental problems

DENTAL BENEFIT PLAN? Employer & address

Carrier & address SS#

Actual size 7 ¼” X 2 1/8”

INSURANCE INFORMATION STICKER SAMPLE

Today’s Date Employee Name 2001Banta Consulting, Inc.

Employer SS#

Insurance Company Spoke with

Maximum Deductible Coverage year %coverage/flat fee Eff date

Preventative Perio

Restorative RCT

Major X-rays

Frequency:Exams Prophy BWX FMS Fluoride

Other Exclusions Sealant Coverage? To what age?

Missing tooth clause? NonDup clause? Coord Ben? Wait Periods?

2. Identifying your patients insurance and financial needs

3. Calling the insurance company and cutting through the red tape


Seminar Materials




Narratives And Other Secrets

1. Remember…Obnoxious Detail!

2. Get your narrative noticed

3. Send “fool proof” attachments

4. Tricks for gaining approval by FAX

5. Sending electronic claims…off the books…and into the bank

6. Predeterminations – Should we or shouldn’t we?


Seminar Materials




Narrative Sample for insurance claim Date___________________________ Patient_________________________ Insurance Co.___________________ Group #________________________ ID#___________________________ Dear Dental Consultant: A ___________________ has been prescribed for restoration of tooth #____ because: _____1. The _______________________________cusp(s) has/have been

destroyed by caries or fracture and require restoration. _____2. The _______________________________cusp(s) has/have been

undermined by caries and/or previous restorations. _____3. The tooth has a symptomatic crack or fracture on the

________________________________surface(s). _____4. The tooth has had endodontic treatment. _____5. There is recurrent decay under the present___________________. _____6. Other:

_________________________________________________ _________________________________________________ _________________________________________________ _________________________________________________

Note: Prosthesis/or restoration is/is not an initial placement. Date of prior placement ____________________________. Extraction date ___________________________________. A Bitewing ______, or periapical(s) _______ x-ray(s) is /are enclosed. Sincerely, _______________________________________________________ Attending Dentist


Seminar Materials




Tracking Outstanding Insurance Claims

1. Four reports EVERY office should run…Why and How often?

2. What to say and what to document-Details, details, details!

3. Following up on claims – electronic and manual

4. Sending statements after insurance pays

5. Protocols and systems


Seminar Materials




Account Receivables Follow Up

1. Running and highlighting your reports

2. Making calls – what is legal and what is not

3. Documenting your efforts

4. The phone calls…when patients don’t pay

5. Sending Statements…messages


Seminar Materials




CREATIVE FINANCING

1. The secret to getting the patient to pay now…not later

2. Will that be Cash…Check…or Bankcard?

3. Signage in office…helps patients to listen with their eyes

4. Statistics to Track


Seminar Materials




XYZ Dental Office 1111 James Street

Anytown, USA 55555 (555) 555-5555

Financial Agreement for:

Patient Name _____________________________ Guarantor Name _____________________________

Previous Balance: ____________________

Estimate Total Treatment: ____________________ Estimate Insurance Payment: ____________________ Estimate Total Amount Financed: ____________________

___________ due each month for 3 months. The first payment is due at start of treatment. Payment dates are as follows: __________ due __________, __________ due __________ and final payment of __________ due __________. _________________________ ___________________ Patient/Guarantor Signature Date _________________________________ ___________________ Witness Date _________________________________ ___________________ Parent or Guardian Signature (if pt minor) Date Please note: Any changes in the amount paid or date payment is received will cancel this agreement and the entire balance becomes due effective immediately.


Seminar Materials




90-Day reply letter

Date BALANCE DUE: $____________________ Name Address City, State Zip Dear ______________________, Normally, at this time, because your account is long past due, it would be placed with our collection attorney which could possibly affect your credit by placing a lien on property or garnishment of wages. However, we would prefer to hear from you regarding your preference in this matter. PLEASE INDICATE YOUR CHOICE AND RETURN THIS FORM: ( ) 1. Please find enclosed my payment in full. ( ) 2. Please charge the balance owed to my VISA, MASTERCARD, DISCOVER CARD. (Circle which Card.) ACCOUNT NUMBER______________________________ EXPIRATION DATE OF CARD _________/____________ AUTHORIZING SIGNATURE_______________________ ( ) 3. I will have payment in full in your office within two weeks. ( ) 4. I will call this week to make payment arrangements. ( ) 5. I do not feel I owe the amount billed. If you do not feel you owe the amount billed please explain below. ( ) 6. I do not intend to pay the bill. Please turn my account over for collection. FAILURE TO RETURN THIS FORM OR TO MAKE PAYMENT WITHIN TWO WEEKS WILL INDICATE YOU DO NOT INTEND TO MAKE PAYMENT. ( ) 7. COMMENTS: Please do not hesitate to call if you have any questions regarding this matter. Sincerely, Financial Administrator for:

Calling on past due balances:


Seminar Materials




The rules:

It’s about the verbal skills…Call patient at work first. Ask this question when you reach them live: “Hello Mr. patient…this is Mrs. Molar from Dr. Tooth’s office…I am calling about your past due balance. What is the best time for us to have a conversation? (usually, the patient will “spill their guts” and give you their best “my dog ate my paycheck” excuse ) Listen carefully and then respond with: “What date will the balance arrive in our office” (NOT…when can you send a payment or…how much can you send?!!) If the patient responds with “I don’t have the entire balance.” Ask them…”How much are you short?” This strategy gives the patient to offer more of a payment than less…it REALLY works!

If you MUST leave a message…do it in your MOST positive voice…act on the message like they just won the lottery. Ask them to call you back regarding their account…that’s all you can say…really!

The “Fair Debt Collection Practices Act” considers many things harassment in your attempt at collecting past due balances…You cannot leave a message on a recorder about their past due balance because someone other than that message was intended for could hear the message and bam!...you have just harassed the patient.

Log onto www.lawdog.com to discover your state laws regarding collections and bad debt…state laws override federal laws.

You cannot send more than ONE “we really mean it this time…this is your final notice”…because that is a form of harassment…if you send a final notice…you must take action on it. Once you get a commitment of payment amount and date you will receive it…mark your calendar! Follow-up the day after payment is not received or YOU are the one who loses credibility. The key to reduced A/R

1. Collect at the time of service 2. Print and monitor reports monthly 3. Follow up and Follow through! 4. Work together as a team – it’s a total team effort to keep A/R low. 5. Celebrate your successes!!!!

http://www.lawdog.com/

Education

C105 playing the collections, accounts receivable game