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Minimizing the Patient “No-Show” Problem
Staff Writers
In what is perhaps the next evolution of office-based medical practice – at least according to American Medical News reports – some physicians are now making their patient’s reserve office appointment slots with a cash deposit in case of “no-show.”
Much like their plastic surgery, new-wave anti-aging esthetics, cash-only, cosmetic-dental or concierge practice colleagues, these doctors are serving up their healthcare offerings much like a fine restaurant serves its cuisine.
Causation
According to anecdotal research, the average no-show rate for medical practices is about 5 to 10 percent, while the rate can be higher if the office has a larger percentage of new, Medicare. Medicaid, indigent or self-pay patients
Deposits
Physicians who charge de-minimis deposits – ranging from $10 to half an office visit cost – emphasize the primary goal is to cut down missed appointments and increase office efficiency; not generate revenue.
“This is not like a Blockbuster™ store late-fee, or about making money through cancellation-fees”, according to Executive-Post managing-editor Hope Rachel Hetico, RN, MHA, CMP™ of Atlanta
Results
Of course, cancellation-fees are not new, but are retroactive and may bespeak a “certain perception of avarice” according to Hetico; and are a “pain to collect.”
But, “appointment reservation-fees” are pro-active, and give the perception of “gravitas and physician-patient collaboration”.
And, the practice may yield patients who are more faithful about showing up, or at least giving notice if they can’t; while fewer empty slots mean more cash-flow and practice revenue.
Conclusion
What are your thoughts and opinions on this emerging business management practice; legitimate business strategy or bad public relations move? Please comment.
Related Information Sources:
Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759
Physician Financial Planning: http://www.jbpub.com/catalog/0763745790
Medical Risk Management: http://www.jbpub.com/catalog/9780763733421
Healthcare Organizations: www.HealthcareFinancials.com
Health Administration Terms: www.HealthDictionarySeries.com
Physician Advisors: www.CertifiedMedicalPlanner.com
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com or Bio: www.stpub.com/pubs/authors/MARCINKO.htm
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Filed under: Managed Care, Op-Editorials, Practice Management | Tagged: Managed Care, Practice Management |
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