I just published an article for Phreesia’s blog about how to make the most of year end (when many patients with fulfilled deductibles may rush to get care) and prepare for Q1 (when the deductible reset causes some patients to delay care). Please click here to read the article to get the full scoop.
In a nutshell, here are the suggestions I made in the post:
- Alert patients to the deductible reset and the benefits of receiving services before December 31
- Try to identify patients who opted to delay care earlier in the year and contact them personally
- Offer financing options for patients who need them
- Make sure your reminding approach is up to snuff
- Prepare to promote preventive services in January-March
- Consider how you might use the lighter load of Q1 to your advantage
One additional idea to think about. Remember that you may feel your workload slow down in January and February, but the impact on your revenue will lag a bit. (In January, you’ll still be collecting some payments from the end of the year.) So if cash flow is a concern, remember that you may still feel the pinch as late as April, depending on how quickly your volume rebounds.
I also strongly recommend you use this time of year to review your technology set-up. Keeping patients informed about insurance, making it easy for patients to pay, and improving your practice productivity can all be made easier with the latest technology options. If you’re not sure how to evaluate your technology infrastructure, Capko & Morgan can help with a cost-effective review. Contact us for more information about that.