Don’t Get Spooked by what’s Around the Corner

Its early fall. Leaves are turning, fires are burning, and there’s that eerie feeling that something scary is lurking around the corner, just weeks away….

No, I don’t mean Halloween: I’m talking about the deductible reset!

Too soon to worry, you say? Well, it will be here before we know it—and there are excellent reasons to start thinking about it now, including:

  • Planning ahead gives you more options. For example, if you want to use marketing to try to book the schedule in Q1, you need a bit of time to plan—and if you start now, it’s not too late to try new approaches. Or what if you want to use the downtime instead? You can think through how to make the best use of the time by acting now.
  • You can serve patients better. Thinking ahead to January and February gives you the option to reach out to patients who are most likely to feel the financial pinch of the deductible reset. Patients who’ve put off procedures because of their deductibles earlier in the year might appreciate a reminder that the reset is coming, and decide to schedule now.
  • You’ll make the most of busy and slower times. Many of the tools that can help you in Q1 can also help you make the most of busier times. By making it easier for patients to pay by adopting new technology, or by giving staff new tools to verify insurance more easily or collect more effectively, you’ll maximize the Q4 revenue you can sock away for the slower months—and those same tools will help you cope with the payment burden on patients.
  • Acting sooner allows you to engage employees. Involving employees in brainstorming ways to fill the schedule, reduce no-shows, and burnish your practice’s online reputation sets a strong foundation for the entire year.

My upcoming webinar, Timely Tips to Maximize Year-End Profitability and Tame the Deductible Reset, explores these ideas (and more) in a lively, practical way. I hope you can join me on October 20 at 10 AM PT! Register now.

About the Author

Laurie Morgan is a senior consultant and partner at Capko & Morgan. She managed both start-ups and large-scale operations in the media industry before turning her...

Subscribe to Our Newsletter!

Enter your email address to receive "Go Practice" as an email newsletter.

Free White Paper

Getting Paid in 2020: What Independent Medical Practices Need to Know

Here's a quick overview of changes in CMS programs, insurance plans and patient payments.