Patient financial records a disaster? Here's what to do

In our last post, we discussed some ways to organize your receivables system to make sure that you get off to the right start to control past due amounts and deal with any amounts that may become delinquent.  

But what about a situation where you initially did not have a plan or execute a plan?  The aging analysis has never been reviewed, there’s been no follow up, patients are seen without regard for their financial status. The assumption is that everything will work out OK.  And in a lot of cases, you don’t know what to collect because you have no idea what is owed.  That’s certainly not an ideal situation, but fear not.  Do not abandon hope.  The situation can be salvaged and turned around. 

Take the following steps as soon as humanly possible:

Train your patients and other receivable tips

In our last post, we mentioned that a key part of achieving monthly payment/6 week scheduling harmony is an effective receivables system.  Obviously, collecting money is both fun (actually having the money) and undesirable (asking for the money when it is past due).  

This is especially true when you have monthly payment or other convenient payment plans intended to ease the financial burden on the patient.  This is extraordinarily true if you decide to allow payments to be made after treatment is completed.

But here are some tips for easing the undesirable part and creating more of the fun part.