David Kats: Hi, this is David Kats and Dr. Michael Perusich with Kats Consultant and we have a tip for you. You have to decide and know what each insurance company is paying you for lots of different reasons. The first reason is, if somebody isn’t paying you much you need to get rid of that insurance company and go cash, but there are other reasons too.
Michael Perusich: Well, there are. It really helps you understand which companies in town you want to market toward. For example, if Blue Cross is a great reimbursement company for you in your area and one of the big factories in your area, all their employees are on Blue Cross, you want to go market to that company because that’s going to be a great revenue center for you. On the flip side, if that company has a different health insurance and it’s not paying well, it might be a company that you don’t want to spend a lot of time marketing to because you are not going to make a lot of money.
David: Yes and I like to break that down a little further because we just did this in our clinic. We took every major insurance company that’s in our clinic and we took every major code that we bill out, and we saw what their reimbursement was for every one of those codes. For instance, we have a strange situation in our state. Blue Cross Blue Shield does not pay anything for electro muscle stimulation or intersegmental traction, so why would I be doing electro muscle stimulation or intersegmental traction, but still hundreds of doctors in our state are doing it. I would rather do something that helps the patient more that the insurance company reimburses for. So, make sure that you get a list of what every insurance company is paying in your area. Have your staff put it together. Is it my staff a little bit of time over two days and I had it right in front of me and they helped to make great decisions.
Michael: Well, it does. That’s right. It really helps you evaluate the codes and services that you’re delivering to patients and making sure that you’re getting paid for what you do. It’s not uncommon for us to occasionally give away a service because an insurance company doesn’t pay for a muscle stimulator, but the patient needs it. On a daily basis, you want to make sure that you’re giving patient care that you get paid for.
David: Yes. If you aren’t careful, you’re probably giving away thousands of dollars of services a month just because you don’t have this list in front of you telling what’s reimbursed and what’s not being reimbursed. Anyway, get the list, have your staff put it together, you’ll be surprised what you see. This is David Kats and Dr. Michael Perusich. Thanks for listening.
Michael: Hi everybody. Hope you enjoyed this week’s video tip. Don’t forget doctors, if you’re members of Kats consultants that you can join us each and every Tuesday at 1:00 Central Time for our weekly webinar, where we cover topics like this week’s video tip. Also, don’t forget as a member, your office crew also has a call on Wednesday every week at 1:00 Central, where we cover office procedures, motivation, goal setting, all kinds of different things just for your staff, and if you’re not a member, I challenge you to give us a call, check out our website and become a member. We offer great seminars, great educational programs, and everything you need to take your practice to the next level. I’m Mike Perusich with Kats consultants.