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Retail Healthcare It’s About Getting PAID.

Explore the changing healthcare industry and the importance of adopting a retail mentality for getting paid. Discover key points for success, including process change, embracing technology, starting now, and committing to change.

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Retail Healthcare It’s About Getting PAID.

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  1. Retail HealthcareIt’s About Getting PAID. William Todd Andros, CEO tevixMD

  2. 5 Key Points (tenants) for New Healthcare Landscape • Healthcare has changed - RETAIL • Process change is Required • Technology is available • Start Now - takes time implement • Commitment

  3. Key Point #1 • Healthcare has changed - Retail • What is Retail Healthcare? • Patient is now responsible for payment! • Millions have high deductibles • Deductible Trap • 90% - Have a $2,000 or higher deductible • It’s not about Eligibility its about getting PAID

  4. Key Point #2 • Change in process Required to survive • Retail mentality - GET PAID • Collect before processing • Check Every Patient Every time • Collect before services provided • Why run a $5 test? • Make $4.90 • Get costs covered! Minimum • Especially difficult for Path Labs • New use for call centers

  5. Key Point #2

  6. Key Point #3 • Embrace technology • Technology is available • Need a solution that get you paid in less than one minute • Limited IT involvement • No third party involvement • No software or hardware to purchase • Minimum Requirements • Fast ,real-time data, ability to collect, limited IT footprint, easy to use

  7. Key Technology Requirements • Easy Search • Access to over 760 payors • Integrated co-pays and deductibles • Integrated credit card collections and cash collection • Integrated documents • Patient Centric Data • Integrate with all 3rd parties • Service Example: tevixPAS - DEMO

  8. Key Point #4 • Start Now! • Takes time to plan • Create new processes • Create out bound call center ….. etc.. • Takes time to implement • Training • Follow up • Adjust

  9. Key Point #5 • Commitment • Starts at Top • Employees need to know the importance • Manage through issues • Adjust for real world Deductible Traptm

  10. Key Points • Time for a change in mind set • The old processes create bad debt • “Retail” mentality is required to survive • Check information ID/payment source • Before services provided • Technology is available and inexpensive • Do not accept modifications to old process • Quality of data important • Do not accept carbon credit card type documents • Change before its too late – GET PAID

  11. Retail HealthcareIt’s About Getting PAID.

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