Deductibles and Staying Legal

Hi, this is Dave Kats with Therapist Consultants, and I have a tip for you.

Ironically, some therapists disobey the law without knowing it, and they do it this way. They give people breaks in that they don't have to pay their deductible, or they don't have to pay their copay, but the law is very clear. You're supposed to charge everybody their deductible and everybody their copay.

Now, if there's an occasional financial hardship, I certainly understand that you should have them fill a financial hardship form. I used to work with a company that was traded on a New York Stock Exchange. They said, if any doctor, I was working with doctors, and if any doctor gives away more than 5% of his or her services, talk to them about it because it's becoming too much. Don't give away more than 5% of your services. Make sure that you collect all your deductibles and all your copays. The patients will respect you more, and you'll collect more money, and you'll be within the law. That's the most important thing. That's our message for today.

By the way, we have lots of good messages that are coming up on our podcast. Our podcast is just 15 minutes long, it's once a week, and it is not particular to therapists. It's for all professionals. It's for all people, telling them how to grow and improve their lot in life, and how to have a good, happy life. We have a happy community that we're building right there, and I'd like you to be part of it.

You can go to our website at therapistconsultants.com, or you can go to any place wherever you listen to your podcast and just look it up under my name, David Kats, K-A-T-S, and you'll find that you become a part of a community that's very happy growing, prosperous, and glad they're together. This is Dave Kats. Thanks for listening.