Clinicient Webinar: Five Ways to Jump Start Revenue in 2019

FIVE WAYS TO JUMP START
REVENUE IN 2019

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SOME HOUSEKEEPING
3©2019 All Rights Reserved

YOUR HOST
Jerry Henderson brings more than 25 years’ experience as a physical therapist to
Clinicient, and serves as “the voice of the therapist” in all company undertakings.
A serial entrepreneur, Jerry has started four rehab-oriented companies, one of
which evolved into Clinicient. He has deep roots in physical therapy, and brings
an immense amount of industry thought leadership to the company’s therapist-
facing activities.
Jerry co-founded the Independent Private Practice Physical Therapy Association,
a non-profit corporation to organize independent physical therapists for local
legislative action. He also speaks regularly at industry conferences, and is
published frequently in professional journals.
jhenderson@clinicient.com
@HendersonPDX
Jerry Henderson, PT
Founder and Vice President of Clinical Strategy
Clinicient, Inc.

WELCOME TERESA HUGHES
Teresa Hughes has been with Clinicient for over four years, holding roles in client
and account management. She brings over 15 years experience in the healthcare
Industry. Prior to joining Clinicient, she was the Executive Director of a large
Assisted Living community. Teresa also spent several years as the Business Office
manager of various Assisted Living communities in both California and Oregon.
Her background in operations, personnel management, and collections give her a
unique perspective into practice management.
thughes@clinicient.com
Teresa Hughes
Client Executive
Clinicient, Inc.

COVERED TODAY
• What’s Putting the Squeeze on Revenue in 2019
• 5 Tips to Jump Start Your Practice Revenue
• Tools that Can Help
• Q&A
6©2019 All Rights Reserved

We all know practice revenue
is getting the squeeze.

WHAT’S PUTTING ON THE SQUEEZE?
Lower or stagnant reimbursements
8
Medicare fee schedule frozen
©2019 All Rights Reserved
Higher overhead costs 69% say overhead expenses increased in 2018*
Move to value-based care 47% of business tied to value-based payment**
Demand for a better experience Consumers will switch for better experience***
Higher patient responsibility Patient healthcare costs up 30% since 2015

FIVE PRACTICAL TIPS TO
JUMP START REVENUE

#1. Create and live by
a patient-centric
culture

80%
of patients are willing to switch providers
“for convenience factors alone”.
According to a recent survey from NRC Health

Owner
Get client feedback so you
know how satisfied they are
with their experience.
Billing Staff
Create a transparent and accurate
billing process. Ease insurance and
payment hoops for clients.
Front Desk
Create the right first impression.
Simplify patient intake and care
coordination.
Therapist
Make the client feel cared for.
Collaborate, communicate and
educate during and between visits
to help clients achieve goals.
Marketing
Create opportunities to engage, connect and share success
stories. Build reference and customer retention programs.
12
Provide a
satisfying and
healing experience
for your patients.

TIPS FOR CREATING A PATIENT-CENTRIC CULTURE
Prep Your Team
✓ Hire for soft skills not just for technical skills
✓ Make the patient central in your core values
✓ Teach your whole team how to sell back the value of therapy
✓ Coach your team to listen to patient concerns
✓ Track and measure patient outcomes and patient satisfaction scores
✓ Use patient feedback to coach your team and improve performance
✓ Follow up with patients post discharge and maintain the relationship with them

TIPS FOR CREATING A PATIENT-CENTRIC CULTURE
Provide Excellent Service
✓ Remember your patient experience starts at the first phone call
✓ Create a positive experience at each stage of the patient’s journey in your clinic
✓ Partner with your patients
✓ Survey patients throughout their care to determine their satisfaction
✓ Speak as your customers do - don’t use industry jargon

METRICS TO TRACK
Patient-
Centric
Practice
EARLY DROP OUT RATE
This metric will allow you to see if you are selling the value
of care. If this rate is high, you know to focus more on
creating a patient – centric culture.
NET PROMOTER SCORE (NPS) & CSAT
These two metrics will provide you with a temperature gage
of your patient satisfaction.

2. Get the Most Out of
Your Referrals

Did you know…
• The average value of a referral is
$1000 and results in 10.75 visits
• On average, happy patients tell 8
people about their experience at
your clinic
Do you and your team know what
yours are worth? Do the math.
They are key to revenue growth.

90%
of your referrals should convert to first appointments
within one week.
Every minute a referral sits reduces its shelf-life.

However…not all referrals are created equally.
Think quality NOT just quantity and
focus on optimizing what you already have.

HOW TO GET THE MOST OUT OF YOUR REFERRALS
Physician Tips
✓ Call the physician and tell them what you think before the client visit
✓ Provide clear, concise notes – BLUF (bottom line up front)
✓ Provide the software reports they want
✓ Prove to them that you deliver results
✓ Follow up with patients and communicate with the physician
✓ Thank them for sending you business

✓ Tell them what you do and the value you will bring to their recovery
✓ Ask them what they want to achieve
✓ Focus on what they value
✓ Be on-time
✓ Do things they can’t do at home
✓ Bring the discussion back to their concern
✓ ASK them for their business
Patient Tips

Front Desk Tips
✓ Track every referral until it gets scheduled and arrived
✓ Track all referral sources to identify your top sources
✓ If referrals don’t convert within 7 days, analyze barriers that are preventing
conversion and communicate this with the physician
✓ Use this information to train your team

METRICS TO TRACK
Referral
Conversion
Rate
FIRST VISITS / NEW ARRIVALS
This is a measurement of how good your practice is at
getting referrals scheduled for their first visit.

3. Avoid Cancellations
and No-Shows with
Proactive Scheduling

Patient no-shows are the biggest challenge
to medical practices according to
44%of respondents.
Based on a MGMA stat poll.

A healthy practice will average less than
10% cancellation rate.
If your practice averages over
15%
it could be a red flag.

HOW TO AVOID CANCELLATIONS AND NO-SHOWS
Scheduling Tips
✓ Schedule out the plan of care at the initial visit
✓ Automatically contact all active patients without upcoming appointments
✓ Build loyalty by scheduling patients with regular therapists
✓ Solicit objections in advance
✓ Develop a cancellation policy
✓ Communicate it and reinforce with patients
✓ Provide your team easy, efficient scheduling tools to minimize scheduling burdens

HOW TO AVOID CANCELLATIONS AND NO-SHOWS
Customer Service Tips
✓ Send convenient appointment reminders
✓ Don’t make patients wait — value their time and they will value yours
✓ Teach your team to sell the value of therapy
✓ Continually educate patients about their treatment plan and how following it
drives their recovery
✓ Celebrate patient progress and successes along the way

METRICS TO TRACK
Failed
Appointment
Rates
TOTAL UNEXCUSED CANCELLATIONS /
TOTAL EXCUSED
This metric will allow you to see how your practice is doing overall
and determine whether any of your therapists are struggling with
selling the value of therapy to their patients.

4. Collect Patient
Financial
Responsibility

Chance on collecting patient copay drops
20% after the first month.
Patient healthcare costs – including deductibles and
out-of-pocket maximum payments – have increased by
almost 30% percent since 2015.
Payment responsibility continues to skyrocket

A patient-centric culture should not prevent
you from getting paid what’s rightfully owed.

Does your team understand the impact patient
payments have on your practice?

If you are not collecting co-pays, deductibles and other
forms of patient payments…
you are giving away your expert services for free.

HOW TO IMPROVE COLLECTIONS OF PATIENT PAYMENTS
Coaching Tips
✓ Develop a patient collection plan and policy
✓ Educate your team on the policy and why it is important to enforce
✓ Train your team and provide them tools to have financial conversations with
confidence
✓ Provide software tools so the front desk easily knows what to collect
✓ Track and measure performance
Coaching Tips

HOW TO IMPROVE COLLECTIONS OF PATIENT PAYMENTS
Front Desk Tips
✓ Check eligibility and benefits frequently – not just at first visit or a new calendar year
✓ Be proactive - have the financial conversation at every visit
✓ Explain the patient’s financial responsibility to them – they want to know!
✓ … But do so in private
✓ Collect patient responsibility upfront
✓ Offer a variety of payment options and payment plans if necessary

METRICS TO TRACK
Patient
Collections
PATIENT COLLECTION RATE
This metric will allow you to see how well your clinic is at
collecting patient balances at the time of service. If it’s a low
number, you should focus on enforcing your collections policy.
PATIENT COLLECTIONS A/R
This metric will allow you to see how your practice is at
collecting outstanding patient balances. If it’s a high number,
it’s time to improve your patient collections policy.

#5. Train Your Team to
Manage Their Time

On average, practices leave up to
20%of time unbilled.
What could this lost revenue mean
to your practice?

Top performing practices measure billable time
by therapist.
At least 90% of a staff therapist’s time
should be billable.

CAPTURE ALL ALLOWED BILLABLE TIME
Management Tips
✓ Monitor your therapist performance
✓ Build mindfulness about using their time
✓ Evaluate what successful therapists are doing right and coach staff on best practices
✓ Equip them with streamlined EMR and Billing software

CAPTURE ALL ALLOWED BILLABLE TIME
Coaching Tips
✓ Educate therapists on their true utilization and time-based rules
✓ Review coding practices and educate therapists on the value of different interventions
✓ Teach them how to efficiently document and bill for their time
✓ Evaluate what successful therapists are doing right and coach staff on best practices
✓ Aggregate time based and occurrence based codes automatically

METRICS TO TRACK
Therapist
Productivity
VACANCY RATE
CHARGE PER VISIT
PERCENTAGE OF VISIT TIME BILLED

Bonus Tip!
Get Serious about
Prior Authorizations

Prior authorization issues are associated with
92%of care delays.

GET SERIOUS ABOUT PRIOR-AUTHORIZATIONS
Management Tips
✓ Understand and frequently review payer authorization policies
✓ Align your practice processes and policies with payer requirements
✓ Always get authorization prior to providing service
✓ Get a confirmation and a reference number

GET SERIOUS ABOUT PRIOR-AUTHORIZATIONS
Therapist Tips
✓ Understand exactly what has been authorized
✓ Don’t treat your patient for unauthorized procedures
✓ Track the number of authorized visits

METRICS TO TRACK
Top Denial
Reasons
DENIAL RATE
Analyze your denials to determine
trends and take action.

Tools That Can Help

Insight EMR and Billing
PATIENTS
▪ Streamlined Patient Intake & Scheduling
▪ Appointment Reminders
▪ Cash register for Easy Co-pay Collection
▪ Accurate Reliable Billing
▪ Patient Engagement Tools
Single system
for EMR and billing
empowers practices
to deliver a better
experience to
potential referrals
PHYSICIANS
▪ Clear Documentation
▪ Goal Tracking
▪ Letter and Reporting Templates
▪ Discharge Management & Follow Up
▪ Referral Metrics & Management

WOULD YOU LIKE TO SPEAK
WITH A REPRESENTATIVE TO
LEARN HOW CLINICIENT CAN
HELP JUMP START YOUR
REVENUE IN 2019?

Q&A

Clinicient Webinar: Five Ways to Jump Start Revenue in 2019

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