The Tough New Reality for Doctors
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Transcript of The Tough New Reality for Doctors
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It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
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Let’s Get One Thing Straight...
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Let’s Get One Thing Straight...
A doctor’s relationship, both clinical and financial, is with the patient. Remember?
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History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
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History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
![Page 6: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/6.jpg)
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History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
![Page 7: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/7.jpg)
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
2010’s 0% Patient Responsibility.An entire generation of Americans have learned to not pay their portion, but with reimbursements plummeting, this must stop.
![Page 8: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/8.jpg)
ProfitWiseSolutionsGetting You Paid Faster
History of Medical Payments1970’s 100% Patient Responsibility.
Patients paid the doctor and then got reimbursed by the insurance company. (Remember those days?)
1980’s 20% Patient Responsibility.Doctors started filing claims, living off the 80% insurance money and didn’t care if the patients aid their portion.
1990’s2000’s
10% Patient Responsibility.Because the patient portion was not really pursued, the message was clear, “You don’t have to pay your medical bills.” So few did.
2010’s 0% Patient Responsibility.An entire generation of Americans have learned to not pay their portion, but with reimbursements plummeting, this must stop.
2014... Who’s Responsible?The Exchanges, HDHPs & ICD-10 will only increase the mass confusion about what is and isn’t covered & how much to pay.
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The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
The Tough New Reality for Doctors
Insurance reimbursements are plummeting yearly.Fact #2
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
The patients owe the remaining balance.Fact #4
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Tough New Reality for Doctors
![Page 18: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/18.jpg)
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Exchanges, HDHPs & ICD-10, will make it worse.Fact #9
The Tough New Reality for Doctors
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Doctors have lived off mostly insurance money for decades.Fact #1
Insurance reimbursements are plummeting yearly.Fact #2
This downward trend won’t be changing any time soon, right?Fact #3
Most patients haven’t been paying their portion for years.Fact #5
This is not working, and is certainly not sustainable.Fact #8
The patients owe the remaining balance.Fact #4
Practices are losing money every single month.Fact #6
To survive, doctors have been cutting staff & borrowing.Fact #7
The Exchanges, HDHPs & ICD-10, will make it worse.Fact #9
Doctors must learn to collect the patient dollar...and fast!Fact #10
The Tough New Reality for Doctors
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The Urgent Burden of Debt
This chart shows the amount of
SBA-backed loan dollars borrowed by independent doctors from from 2000 to
2011
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The Urgent Burden of Debt
This chart shows the amount of
SBA-backed loan dollars borrowed by independent doctors from from 2000 to
2011
A 10-fold increase in just 10 years. Wow!How much longer, realistically, will this “quick-cash” kind-of-fix
sustain these practices?
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The Options?
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The Options?
1) Play the Ostrich (and deny reality)
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The Options?
1) Play the Ostrich (and deny reality)
2) Play the Damsel (hoping the hospitals will save you)
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The Options?
1) Play the Ostrich (and deny reality)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
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The Options?
1) Play the Ostrich (and deny reality)
4) Play King Solomon (and get wise like other savvy doctors)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
![Page 27: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/27.jpg)
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The Options?
1) Play the Ostrich (and deny reality)
4) Play King Solomon (and get wise like other savvy doctors)
3) Play Dreamy Smurf (and fantasize of a pre-pay practice)
2) Play the Damsel (hoping the hospitals will save you)
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Bottomline:
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Bottomline:Maybe for the first time...
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Bottomline:Maybe for the first time... Ever!
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Bottomline:Maybe for the first time... Ever!
You have GOT to learn how to get your patients to pay their portion...
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Bottomline:Maybe for the first time...
...or else!
Ever!
You have GOT to learn how to get your patients to pay their portion...
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So how do you get patients to actually pay their portion?
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So how do you get patients to actually pay their portion?
Common Answers:
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So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
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So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
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So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
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So how do you get patients to actually pay their portion?
Common Answers:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
Pray for daily miracles!
“We’ll hire more staff.”
“We’ll get it upon arrival.”
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”Just kidding.
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
“Our agency will get it.”
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So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
The 4 Payer Motivations
“Our agency will get it.”
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ProfitWiseSolutionsGetting You Paid Faster
So how do you get patients to actually pay their portion?
Common Answers: Savvy Wisdom:“We’ll just try harder.”
“We’ll hire more staff.”
“We’ll get it upon arrival.”
Leverage...
The Rosenthal Effect,
The 4 Payer Motivations
Automation & Frequency“Our agency will get it.”
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We can show you how.
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However, we can show you how.
We help doctors everyday. All day. Nationwide.
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However, we can show you how.
We help doctors everyday. All day. Nationwide.
There’s no need to go broke.
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However, we can show you how.
We help doctors everyday. All day. Nationwide.
There’s no need to go broke.
Our clients are doing just fine.
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Learn how to keep your practice flush with cash.
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Learn how to keep your practice flush with cash.
It’s easier than you think.
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Learn how to keep your practice flush with cash.
It’s easier than you think.
Just ask for a personalized A/R strategy meeting.
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In just 20-30 minutes,
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In just 20-30 minutes,
We’ll cover...
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1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
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1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
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ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
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ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
4 Sneak Peak2 Heroic Apps That Could Save Your Practice
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ProfitWiseSolutionsGetting You Paid Faster
1 It’s Only Going to Get Worse:Surviving the Tough New Reality for Doctors
2 Don’t Go Broke:Why Your 2-Stage Approach Isn’t Working
3 3 Revolutionary A/R Strategies: The Only Realistic & Sustainable Way to Profits
4 Sneak Peak2 Heroic Apps That Could Save Your Practice
Bonus Quadrupling Your Recovery RatesYes. Seriously. Here’s Real-World Proof.
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You’ll find this fascinating!
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As a matter of fact,
You’ll find this fascinating!
![Page 62: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/62.jpg)
ProfitWiseSolutionsGetting You Paid Faster
As a matter of fact,
You’re peers will think you have a magic wand!
You’ll find this fascinating!
![Page 63: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/63.jpg)
ProfitWiseSolutionsGetting You Paid Faster
As a matter of fact,
You’re peers will think you have a magic wand!
No kidding.
You’ll find this fascinating!
![Page 64: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/64.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Seriously.
![Page 65: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/65.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.
![Page 66: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/66.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
![Page 67: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/67.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
So....
![Page 68: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/68.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Don’t Go Broke!
Seriously.Staying profitable is only going to get harder.Even if you sell-out, the ACOs will still want to you get that patient dollar!
So....
![Page 69: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/69.jpg)
ProfitWiseSolutionsGetting You Paid Faster
Learn How To Get Patients To Actually Pay Their Portion
Don’t Go Broke!
Seriously.Staying profitable is only going to get harder.Even if you sell-out, they’ll still want to you get that patient dollar!
So....
![Page 70: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/70.jpg)
ProfitWiseSolutionsGetting You Paid Faster
You want in on this?
![Page 71: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/71.jpg)
ProfitWiseSolutionsGetting You Paid Faster
You want in on this?Set-up a time now.
![Page 72: The Tough New Reality for Doctors](https://reader033.fdocuments.in/reader033/viewer/2022052909/55990b7c1a28abce5b8b46ec/html5/thumbnails/72.jpg)
ProfitWiseSolutionsGetting You Paid Faster
You want in on this?
Go to www.profitwisesolutions.com
Check it out!
Set-up a time now.