the rosenthal effect (ebook)- the single greatest threat to your patient collection efforts &...
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Profitwise Solutions Getting You Paid Faster
The Rosenthal EffectThe Single Greatest Threat to Your Patient Collection Efforts, And How to Flip It To Work In Your Favor
Profitwise Solutions Getting You Paid Faster
The Rosenthal Effect
If you tell your staff they are world-class champs, and expect them to show up on-time, well-dressed and to treat everyone well - you will generally get exactly that.
Basically, you get what you EXPECT from people.
If you raise your kids by calling them a loser, you will not be disappointed typically.
Profitwise Solutions Getting You Paid Faster
The Bad News?Let’s see if you have been communicating the expectation of payment from your patients.
The Good News:You can RE-TRAIN your patient base.
That’s the Rosenthal Effect. You tend to get what you expect from people.Even patients.
Profitwise Solutions Getting You Paid Faster
Want to learn how to re-train your patient base to actually pay you?
Reach out to me to schedule a FREE, personalized 20-minute consultation now.
Email me at…[email protected]
Brad McDaniel, MBA
Profitwise Solutions Getting You Paid Faster
The 5 Dreaded WordsIf you or anyone on your team - even one person - speaks these words…
You won’t collect a dime.
“Just pay what you can.”
Are you or your doctors or your staff saying these 5 horrible word (even if you aren’t actually using those words) ANYWHERE along the 10 points of patient interaction?
Profitwise Solutions Getting You Paid Faster
Let’s Walk Through Your PracticeScheduling - Do they tell them to come prepared to pay?
Front Desk - “Will you be making a payment today?” (never say this!)
Providers - Are they talking costs and alternatives?
Before Leaving - Being asked to pay?
Billing & Scripts - “How much can you pay?” (never say this!)
Expectations:What are you communicating at each step?
Tell them what they owe, stand up, smile, put your hand out and say “Will that be cash or debit card today?” (Works like a charm!)
State the balance, how past due they are, then say “We gotta do something about this today! How much are you short?” (It’s like magic!)
Profitwise Solutions Getting You Paid Faster
Let’s Walk Through Your PracticeNext Appt Scheduling - Do you have alerts in your software to popup when folks call in who have a past-due balance?
Rx Refills & Questions - Are your past-due patients routed to billing dept BEFORE they get what they call in for?
30/60/90 Day Chasing - Does your staff struggle to make all the calls for past-due money? What does that communicate if your patients are allowed to be 90 days past due and all they get is another statement?
Collection Agency - The “dirty little secret” of your agency is that they cherry-pick accounts, looking for debts over $1000, and maybe send a letter to the others. You need a flat-fee agency who calls them ALL. (Ask me about my favorite one)
Writing It Off - Do they still get to come back in later?
Expectations:What are you communicating at each step?
Profitwise Solutions Getting You Paid Faster
How are you doing so far?
What kind of grade
would you give your practice?
Profitwise Solutions Getting You Paid Faster
Three Hard Truths#1 People have money, they just aren’t paying you.
The Good News:You can RE-TRAIN your patient base…by re-training your team.
#2 You are getting what you are unknowingly communicating via your expectations.
#3 Collections isn’t about money; it’s about respect because we all tend to pay the vendors we respect.
Profitwise Solutions Getting You Paid Faster
Want to learn how to re-train your patient base to actually pay you?
Reach out to me to schedule a FREE, personalized 20-minute consultation now.
(I will probably recommend a handful of automated apps, a few tweaks to your practice management software and a policy change or two, but you’ll want to take notes because each minute will be packed with hard-earned wisdom.)
Email me at…[email protected]
Brad McDaniel, MBA
Profitwise Solutions Getting You Paid Faster
New Vision for Your PracticeMore patients…
Come to their appointments on-time…
Prepared to pay a lump sum…
And paying on-time as promised thereafter…
With less effort from your team all around.
With enough respect for your practice to…
How’s that sound so far?
Profitwise Solutions Getting You Paid Faster
How Can You Pull This Off?Simple.
Leverage the Rosenthal Effect so that it helps you and not hurts you.
Obsess over this question:What are you communicating to your patients at every point of patient interaction?
Profitwise Solutions Getting You Paid Faster
There’s Only One Barrier
You.
Are you open to learning a new way…If its easy?If its cost-efficient?If its highly effective?
Most importantly… Are you be willing to act on what you learn today?
Or are you just skimming content?
Profitwise Solutions Getting You Paid Faster
Want to learn how to re-train your patient base to actually pay you?
Reach out to me to schedule a FREE, personalized 20-minute consultation now.
(I will probably recommend a handful of automated apps, a few tweaks to your practice management software and a policy change or two, but you’ll want to take notes because each minute will be packed with hard-earned wisdom.)
Email me at…[email protected]
Brad McDaniel, MBA