10/4/2011. Planning for a Successful Sales. Conversation

Transcription

1 How to Grow Your Billing Service: Having a Successful Sales Conversation Paul Bernard, Broadleaf Health Jim Sholeff, ECCOHealth Scott Cramer, Kareo 5 Purpose of Today s Session Planning for a Successful Sales Conversation Understanding Your Prospect and Their Problems Positioning Your Business as the Solution to a Doctor s Problems 6 Kareo, Inc Who is Kareo Web-based Medical Billing Platform Built for Billing Companies Started in 2004 Significant Growth Positioned for the Future Kareo, Inc

2 How to Grow Your Billing Service: Having a Successful Sales Conversation Planning for a Successful Sales Conversation Paul Bernard, Broadleaf Health 8 You ve Got the Lead Now What? "If you don't know where you are going, you will wind up somewhere else. Yogi Berra You only get one chance to make a first impression i do your homework When setting up the appointment learn as much about the current situation as you can 9 by Kareo, Inc Gather Intel Set Up the Meeting Appointment Declare your intentions I d like our meeting to be as informative and productive as I can, may I ask you a few questions? If you only had time to ask one question what question would you ask? Prioritize Focus questions on what s motivating the desire to switch keep them open ended Don t lead the lead let them talk Kareo, Inc

3 Asking Good Questions Why have you decided to look at different billing options, is it performance, is it cost? Answer.. Yes, it s both next question please Better Why have you decided to look at different billing options? then wait for the answer(s) Practice demographics are interesting (# of docs, # of claims, insurances, etc.) but most of that info is available on the web Kareo, Inc Asking Good Questions Getting a good idea of what s causing them to look is the most important piece of information you can get Avoid the temptation to list your resume over the phone answer questions if asked but try to use your time to get information to help you prepare Kareo, Inc Filling in the Blanks Use the web check their website, vitals.com, Angie s list, etc. Look for: Patient feedback Insurance(s), office locations If they have a website, look through their FAQs, read their financial and insurance policies (if those forms are on-line) Kareo, Inc

4 Benchmarks and Specialty Info Understanding financial benchmarks and using them wisely can add value during the meeting. MGMA, AMBA, AMA and similar associations typically have some benchmark data available Specialty-specific associations will have a wealth of information regarding current trends impacting their membership Kareo, Inc Your Own Benchmarks If you have existing clients Can you effectively talk about the before and after? A/R before and A/R after, aging, etc? Do you have references at the ready? Can/will your references speak to specifics about your competencies? Patient care, coding competency, follow-up processes have you set that expectation with them? Kareo, Inc Your Own Benchmarks (Cont d.) Just starting out? Can you point to specific improvements you made at your previous employer? Same process for the references have you discussed what you d like them to emphasize? Kareo, Inc

5 Takeaways There s no substitute for preparation do your homework In setting up the meeting, use the time you have with the prospect wisely. Understand your prospects motivation(s) as much as possible Be creative in gathering your info. Lot s of information is available choose wisely and don t forget to keep it contextual It gets easier, once you ve done a couple of times you ll develop your own rhythm and process Kareo, Inc How to Grow Your Billing Service: Having a Successful Sales Conversation Understanding Your Prospect and Their Problems Jim Sholeff, ECCOHealth 18 Keys to a Successful Meeting Ask, Listen and Inform Avoid selling - aim for solving Be a matchmaker Learn to handle tough questions Know your strengths and be yourself Follow up Kareo, Inc

6 The Art of Listening Listen to what is said and what is meant. A good listener is constantly evaluating How did the doctor answer? Learn to read between the lines If you do not understand d an answer, ask for clarification Let the doctor answer your questions. It may not be the answer you want but every answer will inform Kareo, Inc Asking Questions: Start With the End in Mind Know your goals: Discover and evaluate Find the Pain Points What s your collection/denial rate? What should it be? What are your patients saying about you online? Ask follow up questions Don t be afraid to ask why You should ask questions throughout the meeting and be prepared to get the same questions back at you Take notes like your life depended on it Kareo, Inc Answering Questions Be direct with your answers. We all can spot phony a mile away Let your yes be yes and your no be no Avoid answering a question with a question but don t be afraid to ask a follow up question Keep your audience in mind. Doctors are trained to rely on experts If you don t know an answer, say you will find out and get back to them Use examples whenever possible Highlight your expertise with examples. Another client of mine had that issue and this is what we did Kareo, Inc

7 Handling Tough Questions Don t avoid tough questions, be prepared to answer them. What is your rate? Do you have experience in my specialty? Are you a big company? Small Company? Answer directly but add context when needed. My rate is 8% and that includes everything; software, postage, customer service line, etc. We don t currently have a customer in your specialty so I will have to work a little harder in the beginning. We are big and can handle your volume or we are small and you will get a lot of personal attention. Kareo, Inc Become a Matchmaker After you get to know each other, determine if your billing company and the doctor are a good match You are asking for a long term relationship. It better be a good match or both will be unhappy Kareo, Inc Become a Matchmaker (Cont d.) If you want to sell ice cubes to Eskimos, you re in the wrong business Find out what is important to your customer and what they will expect from you Be brutally honest and determine if your company can fill those needs Kareo, Inc

8 Be Yourself Sooner or Later You Will Have to Be Know what you re good at and lean into your strengths Be genuine, sincere and helpful. Show the prospect that you want to take on this responsibility There is no one size fits all personality that leads to success. You don t have to be the world s greatest salesperson Kareo, Inc Wrap Up and Follow Up Establish the next steps Ask for a follow up meeting if needed Ask to provide any info needed Try to set times, dates and expectations Answer any questions that you didn t in the meeting. Tell the prospect how and when you plan to get back to them Use your follow up as a demonstration of how you would perform after the contract is signed Send a thank you card, text or Kareo, Inc How to Grow Your Billing Service: Having a Successful Sales Conversation Positioning Your Business as the Solution to a Doctor s Problems Scott Cramer Kareo 28 8

9 Utilize Industry Reports Retention Conversations (CESAR) 1. Provide Transparency 2. Solidify Value 3. Engage Referrals Prospecting Discussionsssions 1. Identify Pain 2. Create Doubt/Fear 3. Position for Strategic Advisor Kareo, Inc AMA Contracted Fee Schedule Match Rate Kareo, Inc AMA Contracted Fee Schedule Match Rate Aetna Anthem CIGNA HCSC Humana Regence United Medicare % 77.77% 90.61% 93.88% 88.63% 89.86% 98.26% % 62.08% 86.37% 85.76% 88.51% 86.28% 92.26% 98.91% Kareo, Inc

10 Report Card Payment Timeliness EFT Adoption Rate Fee Schedule Match Rate Percentage of Claim Lines Denied Prior Authorization Frequency Kareo, Inc Prior Authorization Frequency 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 6.15% 5.20% 4.92% 3.50% 3.10% 3.28% 1.68% 0.04% Kareo, Inc Other Areas to Explore High Denial/Rejection rates Prior Authorization Timely Filing Errors Integrated Clearinghouse Dashboard To-Do s High Appointment and cancellation rates Reminders Kareo, Inc

11 Other Areas to Explore (Cont d.) High Days Revenue Outstanding (DRO) No-response notification Confusing Patient Statements Automate and Outsource Missed Dollars Missed Co-Pay Report Missed Encounter Report Kareo, Inc INSANELY EASY Scott Cramer Senior Sales Executive Medical Billing Made Easy 36 $

12 No Long-term Contracts 38 No Cancellation Penalties 39 1 Month Free 40 12

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