Join Us for a New Webinar This Week!
Friday, December 17
12 PM MDT
Join Airway Intelligence for this exciting webinar, which will include a deep dive into appliance selection and how to choose the best appliance for your patient. The AI team will also be reviewing the mmRNA!
Tips for Successful Financial Arrangements
Financial arrangements can be intimidating, but they don’t have to be! Remember, the purpose of the financial discussion and plan is to help a patient develop a plan to handle the cost of treatment in a way that will work for both the patient and the office. The outcome of a successful financial plan is a patient who is able to get the treatment they need and an office that is financially viable with net collections equal to net production.
Here are some great frequently asked questions.
What is the role of the financial coordinator?
A good financial coordinator knows the importance of working with a patient and helping them to find a way to get the treatment that they need.
People often think that the role of the financial coordinator is to “get the money” and that the only way to do this is to be very business-like and matter-of-fact about the cost of treatment. This is not true!
A truly good financial coordinator is able to build a relationship with the patient, partners with the patient, and is willing to work hard with them to help them find a way to pay for needed treatment. A good financial coordinator also understands that the patient NEEDS this treatment and that if they don’t get the treatment now, things will get worse.
Who should be your financial coordinator?
Choosing the right person to present your financial treatment plans is critical to the success of your practice. This team member can’t be afraid to present large fees and must be confident when doing so. What might be a lot of money to them may not be a lot of money to the patient. Sometimes we can be the biggest barrier to getting great case acceptance, and this is exactly where it starts.
Where do you have this discussion?
Make sure that you have discussions about finances in a private area where team members, the doctor, and other patients cannot hear.
People will be more honest and open in a private setting, and you will be better able to help them find a solution.
What do you say, and how do you say it?
Stress Urgency! The doctor is not the only one that should be stressing the importance of getting started on treatment today. Make sure the message is consistent across the board. Always include “Dr. Smith is very concerned” in every conversation you have with the patient. When the patient knows things are coming directly from the doctor, they will be a lot more likely to accept the treatment you’re presenting.
Give the fee with confidence! For example, “Okay Mrs. Smith, your total investment today will be $10,000.00.”
Pause! Give the patient time to process before offering ANY payment plans. They might be thinking of money to transfer from one account to another (e.g., that family member that offered to help them as they take their first steps to improve their overall health).
If finances are a concern, make sure to reassure the patient that you are going to do whatever it takes to fit the treatment into their budget so they can get started on treatment TODAY.
What if they just can't do it?
Be flexible: The more options you present, the more likely we are to get patients started on treatment today. Offer third-party financing companies other than CareCredit. Other lenders often have different criteria for credit approvals (e.g., lower credit scores and larger loan amounts).
Don’t be the bank: Always try and get patients funded in full via third-party financing programs before you do anything in house. We never want to allow the possibility of damaging the patient-practice relationship, and this most commonly happens because of financial situations gone bad.
Complete financial applications in office with the patient: The last thing you want to do is send the patient home with a brochure and instruct them to do it on their own.
Be flexible: The more options you present, the more likely we are to get patients started on treatment today. Offer third-party financing companies other than CareCredit. Other lenders often have different criteria for credit approvals (e.g., lower credit scores and larger loan amounts).
Don’t be the bank: Always try and get patients funded in full via third-party financing programs before you do anything in house. We never want to allow the possibility of damaging the patient-practice relationship, and this most commonly happens because of financial situations gone bad.
Complete financial applications in office with the patient: The last thing you want to do is send the patient home with a brochure and instruct them to do it on their own.
Get Your Cases in Before the End of the Year!
Lab Holiday Schedule/Closures 2021
Aurum
12/27/21, 12/31/21
No cutoff date. Lab tries to get every appliance out the door before the end of the year.
JDL
12/27/21–12/31/21
(return on 1/3)
Cutoff for fabrication of new appliances is 12/13/21 in order for the lab to get the appliance out before the end of the year.
5 Star
12/23/21–12/24/21,
12/31/21
Cutoff for fabrication of new appliances is 12/13/21 in order for the lab to get the appliance out before the end of the year.
Apex
12/24/21
Cutoff for fabrication of new appliances is 12/8/21 in order for the lab to get the appliance out before the end of the year.
Gergens
Cutoff for fabrication of new appliances is 12/1/21 in order for the lab to get the appliance out before the end of the year.
SML
12/24/21
Cutoff for fabrication of new appliances is 12/3/21 in order for the lab to get the appliance out before the end of the year.
STAA
Closure dates TBA
Register Now for Live Training
Our Live Practical Course is available to all Vivos VIPs who have completed Sessions 1–3 virtually. This is a hands-on course where you will review everything learned from Sessions 1–3 and go through the record process as a patient and take the records as the doctor. You will also get hands-on training with Vivos guides and the DNA/mRNA appliances.
Don’t forget to join us on Facebook!
Exciting Webinars This Week!
Join us for these educational and interactive webinars hosted by the Practice Advisory team!
What’s New with BIS
Join our Medical Billing Live Course! This elective course will cover everything from the basics of how to verify eligibility and benefits to how to have a peer-to-peer with an insurance company.
January 27, 2022
Denver, CO, at The Vivos Institute
Check out vivosbis.com to see what our packages include!
Not only will you receive BIS, but all of your packages also come with our new cloud-based software: AireO2. You can utilize all medical forms electronically and send patient forms directly to your patients to fill out before they even step in the door.
Get $300 off set-up costs with BIS through the rest of the year! Use the coupon code SilverVIP, GoldVIP, or PlatinumVIP based on the package you choose.
As always, reach out to medicalbilling@vivoslife.com to schedule an AireO2 demo today and learn more about BIS!
Did you know?
Tools, assets, and marketing materials are available to you!
Simply click on the Marketing Materials portal in your Aire account to order materials for your practice! You can access brochures, folders, banners, articles, and more.
