On-line payments. Card readers. Internet banking.
They are everywhere.
But what has that got to do with a private consultant surgeon?
EVERYTHING!
Consider the following real MHM clients. Client A is very forward thinking. Client B can’t even update his iPhone [keeps forgetting his password]. Both performed a similar number of surgical episodes and outpatient consultations in September 2015. I should know. I invoiced all of them.
Today is November 6th.
Client A – shortfalls/excess against his September work totaled about £1,900. Today he has £36 worth of excess and shortfalls still outstanding.
Client B – shortfalls/excess against his September work totaled about £1,770. Today he has £876.50 worth of excess and shortfalls outstanding.
Both had their shortfalls/excess invoiced to their respective patients in precisely the same way. Client A saw a 98% success rate in collection of shortfalls/excess. Client B only saw a 49% success rate.
WHY?
Client A – I take online payments.
Client B – I do NOT take online payments.
Client A – likes technology. You should see his website! You can see his availability by clicking on his online diary. You can’t book a consultation but you can see where and when his clinics are for the next two months.
Client B really does not like technology. He has a website too (took me 8 months to convince him to get one). He does NOT like online payments. He doesn’t trust them. Two youngsters allegedly hacking “Talk Talk” recently proves his point. So I’m not allowed to use the MHM on-line payment facility.
With Client B I’m going have to chase down his patients more than Client A. Doesn’t bother me. I’ll collect Client B’s excess and shortfalls eventually. I get paid the same amount for both clients. It costs both of them the same percentage fee. I just have to put a little more effort in for Client B to get my fee – big deal (not). So I’ll have to make 15 reminder phone calls for client B. For client A I’ll have to make a phone call (maybe two – who knows?)
But if I were Client B I’d be irritated beyond belief that I was still owed £876.50 for my September work.
I spoke with Client B yesterday and came out with my “dinosaur thinking” comment (again). I described what was happening with Client A. Per normal he laughed. He pointed out that whilst he was not planning on becoming extinct just yet, he still didn’t like the idea of online payments.
I give up. Its Friday and I can feel a bottle of red coming on (not good at 7.20 in the morning!)
If you want to use MHM to reduce the number of excess and shortfalls you have outstanding, email me at the address below:
pete@medicalhealthcaremanagement.co.uk