Simplify Billing Formats for Clients for Enterprises

Billing formats for clients for enterprises

hi it's joan from benedict learning community and last week i did a video on how to convince medical providers to use your medical billing services and my students told me that it was really helpful and they'd like to see more videos like that so i decided today to dig a little bit deeper into that concept so if you didn't see that video i encourage you to watch it and i'll link it below today i'm going to dig deeper into one of the key problems that i talked about on last week's video and that was uncollected claims and teach you how to talk to prospects about this issue because uncollected claims is one of the biggest problems that medical providers have and a real incentive for them to use your medical billing services so when you're talking to a prospect first ask that prospect how much old uncollected money they have that's over 90 days in other words how many claims have they billed over 90 days ago and haven't been paid on them now normally they'll have a ballpark but if they don't just ask them to print their accounts receivable aging report and you're going to then know the number just look at the total dollar amount that's over 90 days old now once you know how much is outstanding ask that prospect two questions first why do you think this is happening in other words why do you think you're billing claims and they're not the money's not being collected now normally they'll tell you that they don't have enough time or they don't have staff to follow up with insurance carriers and second ask that prospect what's the most common denial reason that insurance companies are giving you for not paying your claims for example a really common one is that the claim is denied for lack of documentation notice what i did here i dug deeper beyond the fact that they had unpaid claims and learned the real problems they don't have enough time to follow up with insurance carriers and the claims are missing documentation okay great now just tell that prospect that you can help them with those problems because you follow up with insurance carriers every day to make sure they're getting paid and that's going to greatly increase their cash flow and you can tell them that you're going to contact carriers every single day to fix any problems with documentation turning denied claims into paid claims generating a lot more revenue into their practice so just to recap i discovered the real problem i provided real solutions but here's the key i tied those solutions to more revenue and cash flow into their practice remember money talks when you learn to craft your conversations in this fashion you don't even have to sell anymore medical providers can see the financial advantage of using your services i hope this video makes you more comfortable talking about the real value and benefit you can bring a potential client if you have any questions please leave them down in the comments and if you need help starting your medical billing business just reach out to me anytime thank you and i'll see you on the next video