How Payment Works
These are the pay periods that both providers and employees get paid in
What is 1st through 15th and 16th through the end of the month?
This is how providers become eligible to receive funds.
What is ACH and W9 form?
This is the foundation to understanding how to have financial conversations.
What is knowing the providers income goals?
This is where the OS will find the distribution packet
What is Provider Portal Search function with last name, comma, first name?
While the distribution packet shows what was paid in a given time frame, this shows what hasn't been paid yet.
What is AR Dashboard and Ledgers?
This determines if a provider is getting paid
What is chargeslips being submitted and revenue coming in from patient portions or insurances?
This is what we recommend new business owners open up to establish themselves as a business owner and separate their finances.
What is a business bank account?
Using this technique you can dig deeper into provider goals, if they say they're not financially motivated and do not give you a number per month they need to make.
What is motivational interviewing?
This is on the 3rd page of the distribution and shows the amount that was billed to insurance.
What are charges?
This can be seen on the provider's schedule, when hovering over a patient and reviewing the value next to the credit card icon.
What is the patient balance?
This is the range of the normal amount on a first distribution
What is 0-100$?
This is essential to timely financial ramp up and timely billing of clients and insurances.
What is submitting charting same day or within 48 hours?
This is where you can show the provider how much they're making per hour.
What is Practice Overview?
This is the value on the third page that shows the amount that insurance writes-off to meet the negotiated rates we have with them.
What are adjustments?
This is how long insurance takes to pay out.
What is 2-8 weeks from charge-slip signature?
This is the time it takes to receive a full distribution
What is 2-8 weeks after a full month of seeing clients regularly, or 2-3 months depending on ramp up and retention and timely charting?
This is how you combat providers being overwhelmed with financial conversations, numbers and money?
What is slowing things down to educate providers? What is building trust? What is becoming more knowledgeable yourself?
This is how to help providers see how many patients they're seeing each week, month and start to predict their revenue.
What is taking their average hourly and timesing it by the number of completed sessions?
This is also on the 3rd page of the distribution packet that shows the amount coming from insurance on each line and the amount coming from the patient on each line.
What is "payments"?
This is how long it takes to bill the patient portion.
What is next-day to chargeslip signature?
This is one of the most important meetings you'll have with a provider. A time to review income goals, review metrics and show transparently how their income is generated.
What is a distribution packet meeting?
This is what you are.
What is you are awesome?
This is the tone used during financial conversations and distribution packet meetings.
What is affirming, exciting, and motivating?
This is the value of the distribution packet.
What is being able to see everything transparently, from commission, to each patient that paid out?
This is something you need to take the next step in to be become savvy with understanding financial revenue for providers.
What is reading ledgers?