COVID-19 has shut down many practices. Does this mean that you need to lose money in the process? Here are some tips to help keep revenue flowing in your practice or healthcare organizations.
- Stay on top of your aging A/R. Whether you choose to temporarily or permanently outsource your A/R, it is very important to keep track of your old A/R to maximize your collection.
- Consider implementing Telehealth services and finding new ways to serve your patients. Hiring a knowledge consulting firm can help you answer questions about whether Telehealth suits your practice.
- Push past the fear. This is a scary time. Seeing patients during a pandemic that could affect you and your family is very scary. But shutting down and not moving forward doesn’t help your practice grow. Having a consulting firm that will help you find ways to create new businesses and services in your practice will help put your fear to rest.
- Always have a plan to follow up on old A/R and self-pay. During these challenging times, patients will have financial difficulties. Having knowledgeable financial counselors who can create a plan to help your patients create payment plans that meet their budget and help them pay for services and continue to get care speaks volumes about how much you appreciate your patients. Also, ensuring that you have a team of knowledgeable collectors who will keep insurance carriers responsible for paying what is due helps the patient not to worry about getting bills.
