Insurance Reimbursement

Dave Kats: Hi, this is Dave Kats and Dr. Michael Perusich with Therapist
Consultants, and we have a tip for you. You know, you need to know what each
insurance company is providing as far as repayment to you, so you're aware of
where you stand with each insurance company.
Dr. Michael Perusich: That's absolutely right, David. You know, it's always amazing
to me that we go through our practices, we're busy seeing our patients and doing
those things, and yet, we never take the time, in some cases, to really stop and think
about what are we getting paid. Are we actually getting paid enough to actually
make some money because that's why we're in business?
Dave: Yes, sometimes your overhead is actually more than the amount you're
getting paid for that hour.
Michael: That's right.
Dave: If you don't get rid of the low payers, you won't naturally create room for the
high payers. Another reason you should lay out as list of what each insurance
company pays you, is because then you know who to go after as far as potential
referrals. For instance, if your area pays-- Blue Cross Blue Shield pays really well,
then go after companies whose employees have Blue Cross Blue Shield. It just
opens your eyes to the world of business when you know exactly what each
insurance company is reimbursing you.
Michael: That's right and you really need to know your cost of what your overhead
as well, so you have to find out really what it's costing you per patient visit to deliver
that care, to see those patients.
Dave: That's right.
Michael: If your reimbursement is falling below that, you need to really analyze that
and figure out a different methodology to get paid.
Dave: Yes, you may want to get rid of them, you may want to just go after higher
payers.
Michael: That's right.
Dave: All right, make sure you make a list of all your insurance payers and what
they're paying you, and I think you'll be surprised what you find and who you'll
decide to go after as a result of seeing that list. This is Dave Kats and Dr. Michael
Perusich with Therapist Consultants, thanks for listening.
Michael: Hi, everybody. Mike Perusich with Therapist Consultants here. Just
wanted to thank you for enjoying this weeks video tip. Don't forget, as members of
Therapist Consultants, each and every Tuesday, we have our weekly webinar,
where we cover topics like this weeks video tip and anything else that we need to
talk about to help build your practice. If you're not a member, I challenge you to
check out our website, give us a call, and become a member. We have great
educational programs and wonderful tips on how to build the practice of your
dreams. I'm Mike Perusich with Therapist Consultants.