David Kats: Hi, this is David Kats and Dr. Michael Perusich for Therapist Consultants and we have a tip for you. You know you have to start saving for taxes sometime. You don't want your taxes to sneak up on you and always feel like you're behind the ball as far as getting taxes paid on time. You have to set up a tax account. Do you have set up a tax account?
Michael: Yes, we do. In fact, what I do just so it doesn't sneak up on me because boy, the year really flies by, and you're probably filing quarterly taxes. You want to just do this on a continual basis. What I do on my practice is I just have it automatically removed once a week. I have a certain amount taken out and moved right over to my tax account. I don't think about it, I don't physically have to do it. The way automation is today with our banking accounts and online banking and those kind of things makes it really, really easy to just slide that money over so it's there when the tax man comes.
David: You know you said...
Dr. Michael Perusich: Hi, everybody. This is Dr. Michael Perusich and Dr. David Kats, we are here with this week's video tip. David, we were just talking off camera just a minute ago about HIPAA, and HIPAA Compliance and you're getting ready to do this in your practice. Dr. David Kats: I'm going to be training for HIPAA with my staff day after tomorrow and we're going to go through it at least once a year. It's amazing how many therapists and doctors don't do HIPAA Compliance training like they should. You need to train every new employee, as soon as you get that new employee, you have to train them. You have to train at least once a year and keep track of the fact that you trained with HIPAA. Now, if you are a member of us, you know that on our website, we have the training, all you have to do is play the audio and you'll have the HIPAA training done. Make sure that you take advantage of that. And if you are a member with us, we certainly invite you to do that. Either way, you've...
Michael Perusich: Hi, this is Michael Perusich and David Kats, and we've got a video tip for you. One of the things that we recommend when you're running your practice is that you understand and know all the time what services are covered under the health insurance plans that you're on.
David Kats: That's right.
Michael Perusich: Because if you don't, you may be providing services that you may have to ultimately just write off, so you'd be providing the service for free. This is a very important thing to understand each and every year because it changes from time to time and you want to make sure that you just keep a list, an active list about all those services that they cover, and probably a list of the services they don't cover as well so that you can try to avoid those services if possible.
David Kats: Yes. In our clinic, we just have a spreadsheet, the excel spreadsheet, and it has all the insurance company's solution and what they cover and what they don't cover and how much...
David Kats: Hi, this is Dr. David Kats and Dr. Michael Perusich. We have a video tip for you. Most people now are thinking about moving to a cash basis, either to a total cash basis or a partial cash basis. You have to decide what to do in your practice because insurance companies are paying less and less and less every year. Just this year, their deductibles went way up and the-- What they're paying went way down.
Michael Perusich: Yes, the reimbursement trends keep going down. Analyze your practice. We recommend doing an excel spreadsheet, and if you're a member, we already have that spreadsheet built for you, get it on the back office, but we recommend that you analyze your insurance companies and see what your reimbursement is compared to what your fees are. You may be really surprised. You may find that many of the codes that you're submitting to insurance are not getting paid well.
David: Yes, as a result, you'd probably be better either going to cash with that insurance...
Dr. Perusich: Hi everybody. Dr. Michael Perusich and Dr. David Kats here. We've got a video tip for you this week. This week we want to talk about head space. Stephen Covey talks about, in The 7 Habits of Highly Effective People, sharpening the saw. In fact, that's the final habit that makes the habits all work together. Sharpening the saw is about making sure that you take time to renew yourself. As healthcare providers, we give off so much energy to our patients and our clients on a daily basis that we have to, every once in a while, take a little bit of a step back and just sharpen our saw again, renew ourselves and we need to be doing this on a daily basis.
Dr. Kats: Dr. Perusich, I don't want to turn it into an advertisement for the companies but I have to tell you that the best way to get your head on right and get your head space right is to just tune in to the the webinars that we do and make sure that you listen to them on a regular basis. I can't imagine how much smaller...
David Kats: Hi this is Dr. David Kats and Dr. Michael Perusich, and we have of video tip for you. If you have staff, if you're working with staff, there's something that you need to do on a daily basis that's really going to make your office function a lot more smoothly. You're the king of this, so you explain it to them.
Michael Perusich: We started this a long time ago in our practice, and we call it the daily huddle. Right before, about 30 minutes before we open the doors, we get together as a group, as a staff, and we go over the schedule for that day. We talk about each and every patient that's on that schedule. We talk about what's going on with them. We talk about how their care is going. We talk about whether or not they're a new patient. What their condition might be.
Staff is able to ask questions about the progress of their care. What that does is it allows us to not only keep our patients present time consciousness, but we remember their names when they walk in the door....
Dr. Dave Kats: Hi, this is Dr. Dave Kats and Dr. Michael Perusich and we have a video tip for you. One of the things you have to get good at is using Facebook. There's a lot of different ways you can use Facebook. One of the ways is simply to get people to share with you, to like you.
Dr. Michael Perusich: That's right. Like, Share and comment. Like, Share and comment. That's what you need people to do. You put something out on your Facebook page, you want people to like it, you want them to share it, you want them to comment on it. That's how your message gets spread through the Facebook community.
Dr. Kats: Yes, that's right. We have a client and this client does consulting with me and she has about 400 people on her Facebook list. Anytime she wants a new patient, she just puts some information out on her Facebook page and it generates two or three new patients every single time. You got to get to that critical mass. She has 400, she's trying to get to 800. You got to start...
David: Hi, this is Dr. David Kats and Dr. Michael Perusich. Today we have a video tip for you. I'm going to talk to you about verifying insurance. Let me start, and then you finish on this. It's important that you verify insurance on every patient that has insurance if they're going to use the insurance in your office. Now, it used to be in the old days, which means a year or two ago, we called all the insurance companies to verify the insurance coverage, and we'd sit on the line for 15 or 20 minutes waiting for them to come on the line to give you the insurance coverage. Right now the online verification has gotten so good that nearly everybody has switched over to online verification, and if you haven't, probably now is the time to get started.
Michael Perusich: That's absolutely right. You said something very important in there. You don't just verify insurance with new patients, you verify a patient's insurance every year. That's really important, and not just to find out if...
Michael Perusich: Hi everybody, this is Dr. Michael Perusich and Dr. David Kats. We've got a video tip for you this week. One of the things that we always recommend is checking into every year doing a little checkup on your professional liability insurance and making sure that you're covered in the manner that you should be.
David Kats: That's right. It doesn't take but one call, and it's usually they're very interested in talking to you. You can usually get right through and talk to your malpractice carrier and find out if you're doing anything that you need to have special coverage for. Most insurance malpractice carriers will cover you for about anything, but a lot of times they want you to let them know if you're doing anything out of the ordinary. I'd say, every year or two, you probably should call your malpractice carrier and just talk to them and see if they feel you're properly covered.
Michael: That's right. Making sure if you've got associates in your practice, if you've...
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...
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