How do I decide on my fee structure?
You establish the Healora fees for your practice per visit and/or based on the service. Healora suggests the medicare pricing fee structure + 20%. Many successful practices go much lower as they start to get patients that continue to reduce their costs and administrative burdens. The more competitive your fees are, the faster your Direct Pay practice should grow. Providers who are happy with the Medicare reimbursement schedule will be in perfect harmony receiving immediate payment from Healora patients at the time of service. No balance billing or collections. By eliminating administrative costs associated with activities such as billing, producing insurance claim forms, coding diagnoses and procedures, referrals, authorizations, payment delays, EOB reviews, claim denials, re-submissions, collection risks, and other “managed care” costs, you can provide patients a fair price for services without the administrative hassles and bureaucracy. Our physicians set their DIRECT PAY price at medicare x 165% and still benefit financially. You have the legal right to charge a reduced rate for a particular medical service based on a “prompt pay” discount. You may change your pricing up or down at any time. There are currently four choices when selecting your lowest acceptable price: Medicare x 165% / Medicare x 120% / Medicare x 110% / Medicare. Your price stays hidden from the public as they view providers based on the individual provider’s lowest “reserve” – acceptable Direct Pay price. Contact us for “best practice” tips on how to reduce your paperwork and unnecessary administrative costs, to establish fair, profitable fee structure.
How does Healora help me attract new patients?
That is the simple specific function of Healora. We help you attract patients who will pay the provider directly at the time of service. These patients know they are receiving a substantial discount by paying in full at the time you deliver your services. Our searchable online database, including a provider profile page with pertinent physician controls and updates exposes you to our network of cash paying patients. To strengthen this market recognition you may include the Healora logo in your advertisements and send a press release to the media in your area.
How should I “code” services for Healora patients?
Coding or description of services is up to you. To distinguish Healora patients from others, we recommend using the prefix H in your notes. This simple approach will save you time, avoid confusion, and reduce your legal exposure for accidentally miss-coding a service.
Can I let my patients know about Healora?
Yes, if you want your patients to pay cash at the time of service so they can receive a substantial discount and you can reduce the administrative burden of collecting from insurance and balance billing.
How does Healora protect against no-shows?
At your option, when the patient calls for the appointment you can require a $50 hold be placed on the patient’s credit card. The patient will understand that a spot has been reserved at a low rate and if they do not show up or call 24 hours prior to the appointment they will forfeit the $50.