KeyBridge to Present How to Increase Medical Collections and Turn Patient-Pay Debt into Revenue at Three Fall Healthcare Finance Events

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Participants will learn how to increase collections and turn patient-pay debt into revenue, while preserving patient relationships

Increasing Collections While Preserving Patient Relationships

KeyBridge Medical Revenue Management (http://www.keybridgemed.com) Director of Development David G. Morrisey will present at three fall healthcare finance events, where he will share with hospital CFOs, medical group practice managers, patient accountants and other healthcare finance professionals how to quickly and effectively recover bad debt while maintaining strong patient relationships. For more on these topics, visit the KeyBridge Thought Leadership page (http://www.keybridgemed.com/resources-thought-leadership).

  • Iowa Medical Society – Tues., Nov. 9, 2010: Webinar on “Increasing Collections While Preserving Patient Relationships"
  • Northwest Ohio Chapter of Healthcare Financial Management Assoc. (HFMA) – Wed., Nov. 10, 2010: “Increasing Collections While Preserving Patient Relationships”
  • Michigan Patient Accounting Association (MPAA) – Fri., Nov. 19, 2010: Panel discussion: “Collecting Patient-Pay Balances”

Increasing Collections While Preserving Patient Relationships
Current economic conditions have made it increasingly difficult to get patients to pay their medical bills, and traditional methods of collecting payments might not be effective. Morrisey will explore the current challenges in collections and offer examples of proven methods for increasing collections while preserving patient relationships, like how to:

  • Identify the current challenges with medical collections and the low recovery rate.
  • Assess the effectiveness of the patient-centric approach to collecting patient balances.
  • Use specific to lower resistance and motivate payment.

Strategy for Turning Patient-Pay Accounts into Revenue
Providers say that patient-pay is making the difference between profit and loss on their bottom lines. High unemployment, coverage changes and rising costs of healthcare have led to a spike in these self-pay patients. Morrisey will share key strategies for turning patient-pay balances into revenue, including:

  • 2 things you MUST know about your accounts to uncover revenue
  • 62,500 reasons to collect co-pays at the time of service
  • How long it takes an account to lose 90% of its value
  • How you can know with certainty which accounts you should work, and which ones you should outsource

David G. Morrisey, KeyBridge Medical Revenue Management Director of Development
(http://www.keybridgemed.com/about-our-team)
Relying on over 30 years of experience in healthcare and management training, Morrisey has used his expertise in human motivational techniques and process design to maximize production results at KeyBridge. A talented speaker and motivator, Morrisey has also taught hundreds of seminars and courses around the country on the subjects of effective communication skills and the keys to motivation.

Morrisey is an active member of the Medical Group Management Association (MGMA), the Healthcare Financial Management Association (HFMA), the Orthopedic Managers Association (OMA), the Michigan Patient Accounting Association (MPAA) and the Michigan Association of Healthcare Access Professionals (MAHAP).

About KeyBridge
KeyBridge Medical Revenue Management is a leading provider of accounts receivable management services, including post-charge-off debt recovery, early-out programs, accounts receivable clean-up, and other services for the healthcare industry. By strategically implementing cash management programs designed to enhance the revenue cycle, KeyBridge is able to provide its healthcare clients improved cash flow while reducing cost of recovery. For more information, visit http://www.keybridgemed.com.

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Jennifer Arnold

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