Posted by Team KMCU on Jun 28, 2017
Chiropractic collections used to be simple
There once was a day when third party collections were simple. Some even say, in jest of course, that you could throw CMS1500 forms up into the air, and it would rain checks. In those days, good insurance was a $100 deductible with 80% coverage. That is 80% of your fee, not some arbitrary fee schedule. If you had bad insurance, you had a $250 deductible with 80% coverage. Nice as it is to reminisce about those days, we all agree they are long gone.
Today, we must work for our money in ways we never had to before
Often, it means putting forth twice as much effort for a fraction of our fees. We can no longer expect to get paid simply because we send in a bill to an insurance carrier. We are asked to prove what we do, and even then, we face obstacles to collections. Here is where being a collections ninja is essential. The ninja knows the rules of the game. The ninja also knows that the rules change, often as soon as the rules are learned. The collections ninja does not take “no” for an answer, understanding that having a system to follow up with carriers and being that squeaky wheel really pays off.
Do you have a system to ensure that your money does not fall through the cracks? Are you willing to do what it takes to ensure you get paid every penny of what you deserve? Are you able to respond and adapt to the ever-changing landscape of third party reimbursement? Are YOU a collections ninja?
Not sure you or your team have attained ninja status? KMC University library members click here. If you are not yet a member, call (855) 832-6562 ext 129.