How to Use NAHAM s AccessKeys and Best Practices to Increase POS Collections. February 22, AM Pacific / 12 PM Central / 1 PM Eastern

Transcription

1 How to Use NAHAM s AccessKeys and Best Practices to Increase POS Collections February 22, AM Pacific / 12 PM Central / 1 PM Eastern

2 Today s Speakers Paul Shorrosh AccuReg CEO NAHAM Industry Standards Committee Chair NAHAM Board of Directors Member Terry Kile Regional Director Litmos Healthcare

3 Today s Agenda NAHAM AccessKeys NAHAM POSC Best Practices Common Assumptions About POS Collections Better Patient Communications Skills Case Study: Park Ridge Health POS Collections Technology Solutions The Financial Impact of POS Collections

4 NAHAM AccessKeys

5 Why are POS Collections Important? 70% chance of collecting at point of service - 30% after discharge 1 Many patients may actually be willing to pay when they need the service Reduce the cost of billing Reduce bad debt Correctly identify charity patients Accelerate cash flow for financial viability Point of Service Collec/on Chance A3er Discharge Collec/on Chance 1 Academy for Healthcare Revenue, 2014

6 NAHAM Definition of POS Collections Any and all collections posted by Patient Access prior to and including discharge date. This might include: Collections from self-pays Collections from insured patients (copay/deductible/co-ins) Initial payments collected for approved payment plans Prior balances and bad debt accounts

7 What are the NAHAM AccessKeys? NAHAM s Industry Standards Committee Comprised of patient access volunteer professionals Have spent several years compiling this outstanding resource Allows hospitals to compare their scores against industry benchmarks Measures outcomes and not merely activities Industry standard key performance indicators (KPIs) Designed by NAHAM for Patient Access Managers 34 metrics to measure the entire registration process Good, Better, Best benchmark rankings 7

8 Link to NAHAM AccessKeys NAHAM Pre-Registration Process Tiers

9 NAHAM POS Collections KPI s ID# DOMAIN AccessKey (KPI) EQUATION POS-1 Collections POS Collections to Revenue POS-2 POS-3 Collections Collections POS Collections to Total Patient Collections POS Collection Opportunity Rate POS-4 Collections Total POS Dollars Collected POS-5 Collections POS Collected Accounts Rate POS-6 Collections Estimate to Registration Rate POS-7 Collections Estimation Accuracy Rate POS Collections Net Patient Service Revenue POS Collections Total Patient Collections POS Collections POS Estimations Total Dollars Collected (<= Discharge Date) Accounts Collected Total Registrations GOOD Benchmark Early Implementation Phase or Manual Process BETTER Benchmark Middle Implementation Phase or Semi-Auto BEST Benchmark Mature Implementation Phase or Auto Process National standard benchmarks represent Process progressive phases to achieving a high performing Patient Access team and are largely dependent on the level of executive support, community and board adoption, available technology, staffing, processes and use of best practices. 1.0% 1.5% 2.0% 30% 40% 50% 30% 45% 60% 20% 40% 60% Estimates Generated Total Registrations 1 30% 40% 50% Accurate Estimates Qualified Estimates Total POS Cash Collected compare to prior periods (no ratio or benchmark for peer comparison) 85% 90% 95%

10 NAHAM POSC Best Practices Good 1. Establish a Baseline What are your average POS collections per month? By Location? 2. Identify Gaps - Assess the current POS collection policies, practices, training needs and technology at each Patient Access location (ED, Surgery, Outpatient, Pre-Reg, etc.) 3. Provide staff with - Estimation and payment tools, training on insurance terminology, calculation of copay, deductible and coinsurance. 10

11 NAHAM POSC Best Practices Better 4. Train Staff - How to collect effectively (soft-skills customer training) with scripting, objection handling, and financial assistance options they can offer patients which are pre-approved by the hospital s financial assistance policies (FAPs). 5. Develop Collection Policies - Empower registrars to offer discounts, payment plans, loans and charity for those who qualify, and provide them with clear parameters to reschedule non-urgent services for patients that decline financial assistance. 6. Foster a Collections Culture - With support from the Board, Executives, Management and Physicians, where every registrar asks at every opportunity, of every patient with an estimated liability, at every location and every time. 11

12 NAHAM POSC Best Practices Best 7. Continually Raise the Bar - As goals are met, raise the bar but keep goals attainable. 8. Implement Incentives - These can be non-financial (recognition, parties, etc.) or financial (depending on facility). 9. Engage Physicians and Office Managers - To set expectations at ordering and scheduling levels. 10. Monitor POS Collections Performance - On a monthly, weekly and daily at four levels; health system, facility, location and employee, using all 7 POS Collections AccessKeys. 12

13 Increasing Collections Efficiency Through Training 2016 CallidusCloud Proprietary & Confiden/al

14 Reviewing your present culture The We ll send you a bill era is OVER. You are Helping Your Patients every time you explain their financial requirements. Are your assumptions in the way?

15 Litmos POS Collections Curriculum BF80920 Assumptions, Presumptions and Misconceptions in Collections BF80921 Triaging for Better Collections BF80922 Breaking Down Communication Barriers During Collection Process BF80923 Three Keys to Effective Collection Communication BF80924 Matching Communication Styles for Improved Collections BF80925 Understanding the Stages of Patient Collections BF80926 Strategies for Handling Objections to Payment BF80927 Quality Assurance Methods in the Collection Process

16 Let s Review Some Best Practices BF80920: Assumptions, Presumptions & Misconceptions in the Collections Process BF80922: Breaking Down Communications Barriers During the Collections Process

17 Some common assumptions about Point of Service Collections Are They Yours? Healthcare is too expensive You have to be mean to ask for payment Patients don t have the money Patients don t want to pay BF80920: Assump/ons, Presump/ons & Misconcep/ons in the Collec/ons Process

18 1. Healthcare is too expensive It is best NOT to mix your personal feelings or opinions into the collections process - it is very difficult to do the job that way. BF80920: Assump/ons, Presump/ons & Misconcep/ons in the Collec/ons Process

19 2. You have to be MEAN to ask for payment Maintaining a professional demeanor and being the information provider is the best way to help patients and their families. BF80920: Assump/ons, Presump/ons & Misconcep/ons in the Collec/ons Process

20 3. Patients don t have the money Unless you are a mind-reader, it is best to assume that patients want to pay for the services that they access Most people get satisfaction from paying their bills and don t want to owe anyone for long BF80920: Assump/ons, Presump/ons & Misconcep/ons in the Collec/ons Process

21 4. Patients don t want to pay Recognize that this may be a personal assumption Don t pre-judge - take each patient encounter as a fresh start Always portray your expectation that the patient will pay what they owe BF80920: Assump/ons, Presump/ons & Misconcep/ons in the Collec/ons Process

22 How are your communications skills? Different backgrounds, cultures and languages should not matter You control your voice and the words you say Always the information provider Always professional and empathetic BF80922: Breaking Down Communica/ons Barriers During the Collec/ons Process

23 1. Different backgrounds, cultures and languages should not matter You are the expert in their eyes-be prepared for your meeting. Older than you? Show respect and ask how they wish to be addressed. Using acronyms and healthcare jargon is a big no-no. BF80922: Breaking Down Communica/ons Barriers During the Collec/ons Process

24 2. You control your voice and the words you say Practice low and slow - a lower pitch to your voice is easier to understand and keep it slow and informative. Practice clear and precise - correct pronunciation and articulation. Always use simple and caring language. BF80922: Breaking Down Communica/ons Barriers During the Collec/ons Process

25 3. Always the information provider Talking while looking at a screen is confusing Be a focused active listener Demystify the terms you choose Make sure you paraphrase what you heard Clarify with your questions BF80922: Breaking Down Communica/ons Barriers During the Collec/ons Process

26 4. Always professional and empathetic Take time to show you care Look after their personal comfort Empathizing with patient builds trust and personalizes their experience Encourages repeat customers BF80922: Breaking Down Communica/ons Barriers During the Collec/ons Process

27 Increasing Collections Efficiency Through Systems 2016 CallidusCloud Proprietary & Confiden/al

28 Why You Need Patient Estimates The power of patient estimates Enable financial assistance discussions Reduce patient financial stress Increase the likelihood of collections Are cheaper to collect up front than after service

29 Not All Patient Estimates Are Equal Automated Electronic Orders / Scheduling Demographics, Insurance, Procedure Accurate Aligns with NAHAM standards Provides Accuracy Rate Guarantee Workflow Alerts registrar to collection opportunities Employee and/or patient-facing Kiosk/portal/mobile Es/ma/on Accuracy Guarantee

30 Tailored Scripting for Financial Discussions Embedded into the POSC workflow Prompts registrars in real-time Improves consistency of asking for payment Increases staff confidence and effectiveness Scripts: Standardization of financial assistance options in sequence and per segmentation

31 Financial Screening and Payment Options Aligns to hospital financial assistance policies Screens patients based on ability and willingness to pay Provides personalized scripting based on patient need Prompts registrar to offer standardized discounts and loans Meets 501(r) presumptive charity requirements

32 Integrated Payment Processing Integrated estimates/payment processing Patient payment portals and mobile apps Payment options personalized to each patient Credit/debit/ACH/cash Retail and EMV / Chip Reader Discounts (Prompt Pay / Amnesty) Flexible Payment Plans Loans (bank vs hospital) Auto-posting for real time status POS collections/reconciliation reporting

33 POS Collections Dashboard

34 Integrated Dashboards and Reporting The NAHAM AccessKeys KPI s are fully integrated into our reporting: Estimates to Registration Ratio Collected Accounts Ratio POS Collection Opportunity Rate Total POS Dollars Collected (Others?)

35 Real World Results of Best Practices $400,000 Payment Processor Amount Collected $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 Es#mates Training 3x 2x 1. System: Patient estimation implemented 2. Training: Classroom and elbow-to-elbow training 3. Optimization: Integrated payment processing Pay Now button $0 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Monthly Timeline

36 The Financial Impact of POS Collections Revenue Generation Earlier cash Prior balance resolution Divert bad debt Expense Reduction Cost to collect Time value of money Early out and collections fees Aged Payments

37 THANK YOU FOR ATTENDING Paul Shorrosh AccuReg CEO O: C: Terry C. Kile Regional Director O: C: