Early Out Programs Are Keys to Success in Healthcare Industry

Health Care Organizations recognize the benefits from Early Out Programs. A successful Early Out Program will identify clients that are able and willing to pay, avoiding unnecessary collections efforts while providing increased revenue. As hospitals and physicians staffs are reduced in cost cutting efforts, the need to outsource early out programs continues to grow.

A successful early out program requires a multi-step plan that assures that the patient or responsible party is contacted early. They are informed that they are responsible to provide insurance information or they will need to make arrangements to pay the bill.

Pros in the debt collection business will tell you they are successful because they identify those that are able to pay early and then provide that person the opportunity to make payment in various ways. Understanding that some people will never pay is important. Finding those that can and will pay is the key to success.

There are a number of ways to receive payment and a well planned early out program will maximize the return on your effort.

First, send a timely letter to the responsible party or patient explaining the services that were provided including dates of service and amounts. Explain that payment can be made directly for the services or that insurance information can be provided and that you will bill the insurance company. If the insurance company does not pay, then they will be expected to make payment.

Time is of the essence! If you do not receive a response within 30 days, then a telephone call is the most effective way to make a contact. Sending multiple letters, may have some positive effect, but most will ignore the follow on letters, as they did the first. The key is to identify the right party, get commitment to provide insurance, payment, or knowledge of their intent to make payment. If no contact is made after a telephone call and a message left, then a second letter often is appropriate.

Contact them early and often! Once a letter has been sent, many employ a predictive dialer system to make personal contact or leave an automated message providing a return phone number. Most people have voice message systems, so leaving a message is an effective way to prompt them to make contact with you. In early out programs, most are not as aggressive in their calling efforts as they might be with traditional collections, but the goal is to make contact and let them no your expectations for payment. Making a second call 10 days hence is appropriate and effective.

Provide them many ways to pay you! Many people like to pay their bills with credit cards. Although there is a cost to taking credit cards, it is less costly than having an employee interact with the person that owes you money. Your letter should include that payment can be made on your web site, by an automated phone system, or by sending check or credit card information in the mail. Most people would rather make payments without talking to anyone. That is easy with today's technology which includes Interactive Voice Response (IVR), Voice Messaging (VM), Predictive Dialing, Pay by Phone, Automated email, Automated ACH, and pay via a web portal. Automation makes it easy to pay, verification of account information is done immediately, and payment authorization is provided within seconds. That means you get your money more often and more timely.

What else do you need to know? Check out HIPAA and FDCPA regulations. Many companies can act on behalf of the service provider which makes it easier to comply within the established rules of client contact.

You need to manage your accounts! Managing the results of your actions on your accounts is critical. A good collections software system provides the ability to organize your activities including what accounts to mail and call and when. Measuring and reporting your results internally and to your clients is most important. Good reports will measure your effectiveness and help you adjust your treatment of accounts according to those results. The latest software features the ability to select accounts by any field and then treat those accounts that need follow up. For example, you can select all accounts that are on payment plans with a balance of $500 or greater and are past due on their latest payment by more than 10 days and generate a calling campaign. This can be done with little effort and can generate immediate revenue.

Final words of wisdom! Be consistent in working your early out accounts, use technology as an advantage, measure your results, then you will get good results, new customers, and continued success.

Rodney MacKenzie is VP of Sales & Marketing for CollectTech Solutions. Their flagship software product is Wincollect.

http://EzineArticles.com/6498757

Tips for Outsourcing Your Business' Payroll Accounting

Does your business have their finances in flawless order? Very few companies are able to obtain this flawless financial state, but it is something that they strive to achieve. An action that can be taken to achieve that financial flawless stage is having a payroll service. Now this is probably leaving you with the question, what is payroll service? It is simple; it is a service that allows an employer to manage all the dues that are owed to the employee. The dues can be anything from; wages, compensation, mediclaim, social security, to any other that may apply that the company my have to owe the employee. Once everything is calculated up as a whole, it is then generated into a check or direct deposit to the employee.

Do you want your company to handle its work more efficiently? The answer to the question is simple; a payroll service can help you do just that. With this service it allows the owner to tackle others tasks that are more important to the company. Want to establish an account with a payroll service? If you are the owner of the company all you have to do is provide the list of your employees and their various work and hours. Then the payroll service does all calculations and paying the employees. The benefits of payroll service are cut and dry, meaning a business benefits no matter what just by using payroll service.

Now with having the facts and being convinced about the benefits of a payroll company, now know how to select the best payroll company for your business. One of the most important things that you need is to know what kind of resources you have available. One way to do this is to select payroll software that will help to; calculate payments to employees, send out checks, and file taxes. There is only one drawback of having the payroll software. That drawback is it will not do the function of direct deposit in the employee's name. To make sure that the accounting tasks of the software are done to perfection, it is required to hire someone with knowledge of the payroll software. Just like another software or program, you have to do periodic updates to ensure the software runs smoothly. Some other things that need to do to make sure your payroll software is running smoothly are; making sure customer support for the software works and installing a printer, just to name a few. One of the major factors as a business owner is having knowledge of the payroll laws.

If you have limited resources and time, outsourcing payroll duties is a great option. All you have to do is provide the needed information about your company and employees, to the outsourcing payroll service. Then they take care of all other company needs like; send out checks, tax payments, tax return filing, and taking care of year end forms. There is another option that can be consider and that is online payroll, this service can be altered to suite how your needs are.

Whichever option you decide to choose, just make sure that the payroll is maintain perfectly. By maintaining a perfect payroll, it will allow you to avoid many company hassles that can appear in the future.

Thomas Bladecki is the author, you can find additional information about payroll processing, employee management and the latest news about human resources by visiting The Payroll Company. Get a free quote for outsourcing your payroll by visiting http://www.tpclv.com/.

http://EzineArticles.com/6499122

Down Sized: Now What?

State of Mind:
At your desk working, maybe you just finished a teleconference, your boss calls; "Can you meet me in xyz meeting room?" It's an infrequent request, but not alarming. You walk in and see your boss and an HR representative, a rush of emotions hit you; anger, sadness, embarrassment. You're walked out of the building by security, in front of your now ex-colleagues, carrying a small box of things. No parties, or best wishes, everyone tries to avoid eye contact, as they feel your pain and are relieved that it's not them.

The next morning you're up at normal time, only this time you have no place to go. I had worked hard, put in my years, just didn't seem fair. Everyone's situation will be different and unique, but the emotions and feelings will be similar. Suddenly a huge part of your life comes to a screeching halt. It sucks that it happened to you, guess what it has happened to lots of others and will continue to happen to others, maybe even to you again someday?

It takes some time to get your mental state back. For me it was a couple weeks before I stopped looking for a reason to "why me?". Hopefully you will have some understanding friends and family that you can lean and vent on. I was essentially unproductive the first few weeks, at least from a getting another job perspective. Lots of yard work and home improvement/repairs had been neglected, now made it to the top of the "to do list". I did things I had previously not such as, exercising, lunch with the kids at school and movies in the afternoon.

Early on you need to make sure you understand what will happen with or what options you have regarding things like your 401k, health care coverage, stock options, unused vacation days, severance pay, cobra insurance, unemployment benefits and etc. It's ok to be down on your self for a while, but you still have to take care of the basis.

Point is what your feeling is normal, but you cannot afford to stay in this mood for long. The sooner you can get out of this pity phase the sooner you can get on with living. Your state of mind is critical here, you must believe in yourself and your abilities.

Cutting Back:
Your income has either been reduced or it will soon, so look at where you're spending your money now. It might take some time to find a replacement for the income, so go into conservation mode now. A few small sacrifices now might enable you to sleep better at night in the future; here is a quick list to immediately save you $800 a month:

1) Maid Service - Guess what? You just got a job! Clean your own house for a while. I'm not talking about spending every waking moment cleaning to perfection, I'm saying take care of the basics yourself for a while; vacuum, dusting, bathrooms, etc. If you had weekly service, at a minimum you need to cut back to every other week or once a month service. Estimated savings - $150/month.

2) Lawn Service - If you already have the equipment in the garage, then use it. Make your current service provider why you will not be using them for a while, they will be more willing to work with you in the future if you just need it mowed once. Estimated savings - $120/month.

3) You will now be coloring your own hair. Estimated savings - $50/month.

4) Monthly Massage, Manicure or Pedicure - Forget it! OK if you have a big interview coming up and you need your nails to look good, fine, otherwise forget it. Estimated savings - $150/month.

5) Eating Out - Nope! If you are networking, it's allowed, otherwise eat at home, it's cheaper and healthier anyway. Estimated savings - $200/month.

6) Cancel your gym membership, unless you're in a contract with an exit penalty. Estimated savings - $50/month.

The last two take a little more effort, but still worth doing because they will continue for months, even after you're employed again:

7) Home owners and vehicle insurance - These two combined can easily be $200-$300 a month. Take your current insurance statements and get several quotes from other companies on the same coverage's. Chances are you could reduce your monthly expense here by $50/month just by shopping around some. I had good experience with Amica insurance company, ( http://www.amica.com/ ) they matched my current coverage levels or exceeded in all categories, and did it for a savings of about $540 per year. Estimated savings - $50/month.

8) TV/Internet/Phone Service - Call you provider(s), be honest let them know you were laid off, I found them very willing to help me. Cut the premium channels for sure, if you have a cell phone with unlimited long distance then consider removing the landline. Estimated savings - $30/month.

You have some time now to analyze your current spending, what can be eliminated or reduced. Just by cutting back the areas mentioned above, you are able to save $800 a month. However you must balance your time, do not get hung up on these smallish things, and neglect networking, resume writing and looking for a job. The suggestions I make here are to take some immediate pressure off your wallet, but the real solution will be to replace your income.

Get To Work:
You have made it through the initial shock; you have reduced your monthly monetary outlay, now let's get a job. You've heard the cliché "Make looking for a job your job"; it's true; especially in the current economic situation. Its common these days for employers to provide laid off employees some level of counseling, resume help or retraining services. If you are offered the service, use them. There's a good scene in the movie "Company Men" where Ben Affleck's character walks into a job resource facility, if you have been laid off you'll relate.

Even with all the advances in technology, I think most people still find employment vie the tried and true methods - personal contacts, good resume, and determination. Call your friends, family and business contacts, maybe they know someone that needs someone. No need to sound desperate just let them know your situation, and ask them to keep their ears open. Have your resume polished by a professional. Hit the internet, the phone, and the street. There are many great job posting sites on-line, look for local companies and apply in person. I suggest firstly going to several interviews for positions that you don't expect to get for what ever reason. If it's been a while since you have interviewed, this will allow you to be more relaxed and let your true personality shine when the right position does pop onto your radar screen.
Depending on your skill levels and position seeking, there are many "creative" ways to advertise; YouTube, web sites, phone apps, billboards, dressing up like a cow etc. I have never used these strategies, but I would if I found myself in a crowded market place needing to separate myself from the herd (pun intended!). Your situation will dictate your needs, do you need something, anything now, or are you willing to wait for the right opportunity? That's something for you to decide.

I experienced the high of nailing an interview and expecting to get a particular job, to the low of realizing I was never even seriously in consideration for it. Job seeking is a microcosm of life. There will be ups and downs, but if you work hard and smart, go with your heart and have a little luck, you'll do just fine.

Don't Forget:
Congratulations you just survived one of the top 5 most stressful life events. The thrill of that first paycheck is awesome!

Now that you are gainfully employed, take a few moments and reflect on what you have learned about yourself, your friends and your family during this experience: you overcame repeated rejection, social isolation, you never gave up, you are a strong individual. This life experience has made you stronger and smarter. Since we are in a frugal living forum, I would like to stress that you made it just fine by cutting back in some areas, and it didn't kill you! So don't fall back into the same old traps just because you have a job again. Don't forget:

1) Any $1.00 saved (by not spending it) is like earning $1.30 (including taxes).

2) Any one time purchase of more than $300 should be carefully considered. If you are married or living together, make sure you discuss prior to buying.

3) Bring your lunch to work a few days a week, it saves money and is generally healthier.

4) If your schedule allows, continue to clean your own house and mow you own lawn.

5) Pay off your current vehicle, and drive it into the ground.

6) Give back to others in need.

7) Be empathetic and encouraging to others that are still unemployed.

8) It's not about being cheap; it's consciously spending your money where it has the most impact for you, your family and friends.

9) Be creative, you do not have to spend allot of money to live life to the fullest.

Keep the belts tight, at least for a while; make sure you build up an emergency savings account. In fact if you're married, why not try to live on one salary? You did it while you were unemployed. It doesn't really matter if you're a doctor or a painter, if you spend more than you make, it will not end well for you. For many of us of us, being frugal is a lifestyle choice, and having money in the bank, allows for more choices. After watching your finances closely for a few months, it can easily become a part of who you are. I hope this has helped in a small way to get through a rough patch, and motivated you to continue your frugal living style.

http://www.fruganation.com/

Home of the Free No Cost Deal! Here at FrugaNation we provide you with the latest information on deals in your local neighborhood that you might not know about. Most of our published offers are completely FREE and none of them require any upfront cost to you.

http://EzineArticles.com/6490723