Managing Upfront Collections: Strategies for Effective Cash Collections

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Managing Upfront Collections: Strategies for Effective Cash Collections

Product Code: VMUCDVD

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What's the buzz about upfront cash collections?
Hospital executives across the country agree that upfront cash collections are the most immediate fix to improve the revenue cycle. They agree that the registration department is the first stop on the road to improved revenue collections.

It's not as easy as "show me the money"
Asking for copays and deductibles before a patient receives care can be an uncomfortable conversation. Your staff need to understand how to have conversations about money and learn how to manage patients' responses.

A tool to train frontline staff on this new revenue model
The training video and laminate set, Managing Upfront Collections: Strategies for Effective Cash Collections, was created to teach your registration staff the customer service and collection skills they need to ask for co-pays and deductibles at the time of service.

Developed with the help of upfront collection experts and filmed on location in an actual hospital, this video includes realistic case scenarios and best practices for pre-registered/scheduled patients and emergency department (ED) patients.

Four keys to unlock successful upfront collections
Managing Upfront Collections is designed as an easy-to-follow-and-understand resource. It uses four critical topics, designated by memorable icons, to demonstrate the skills your frontline staff need to master this crucial piece of the revenue cycle. These four topics are:

  1. Educating your patient through an initial conversation
  2. Cutting through the clutter: directly addressing payment methods
  3. Managing a patient's financial status so it does not hinder care
  4. Identifying and managing high risk accounts

These four topics provide a framework to teach your frontline staff how to:

  • communicate professionally and effectively to patients and make sure proper processes are being followed
  • ask for money, make referrals to financial counseling, and discuss payment plans
  • follow hospital policy without violating any laws, such as EMTALA in the ED
  • improve data integrity by capturing accurate and complete information early in the process
  • manage irate customers and escalating situations

A script to ensure your frontline staff is never at a loss for words
Managing Upfront Collections includes 25 copies of a laminated script to help your frontline staff get past seemingly dead-end responses such as:

"I can't pay the $100. I don't have any money with me."
"I can't afford to pay."
"My doctor says I don't have to pay."
"I'm not going to pay."
"Can't you just bill me?"

These scripts depict conversations with both insured and uninsured patients. They'll never leave your staff's side!

Order your DVD copy of Managing Upfront Collections: Strategies for Effective Cash Collections today!