40. Insurance Companies Pay on Their Own Time

When we have our own speech therapy private practice, we work for our patients. In order to stay in business, we must receive patient co-pays, deductibles and co-insurances as payment at the time of service. If claims are to be billed out to TPL, Medicaid or Medicare, these claims must be timely and clean in order to adjudicate appropriately. However, in this podcast you will discover that in spite of doing things correctly, insurance companies continue to be notorious for denying and delaying claims, and generally use tactics so that your business won’t get reimbursed for services that you provide. In this episode, I expose some of the reasons why insurance companies delay or deny claims and offer suggestions on how to mitigate these delays.

In this episode:

02:00 – Shout out to the California listeners!

02:25 – The Perfect Student

02:45 – All Access Membership community,

03:35 – Insurance Payment times differ from Payday time,

03:47 – Hurricane Katrina and insurance nightmares,

06:22 – Cash and the lean machine,

07:15 – Decreasing debt, expenses

08:02 – HCFA 1500 forms

In order to stay afloat and to stay profitable, you must run a lean business and stay out of debt and make your expenses on a monthly basis. What are those expenses? Electricity rent if you have insurance, Professional general liability those are expenses and whatever you have left over is a profit.

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Hello everyone you’re listening to the Speech Therapy Private Practice StartUp Podcast. This is episode number 40. My name is Kyle Meades and I’m a speech pathologist since 1993. And these podcasts are designed to help you improve your business and your life one Podcast at a time.

Welcome back to the show everyone. Thanks again for all the emails, all the questions and as of today, Today is Saturday June 16 2018. We have well over 34,178 listeners to the show. And I’m super delighted you guys are out there getting good free valuable information and I’m going to say it every single podcast. Value is what you get in the absence of money and these podcasts are free for you so if you wouldn’t mind please go to the IOS or the Android platform of your choice and leave some good 5 Star feedback that way other people can get the same valuable information. Now when you go to the demographics and look at the world view most of our listeners a majority of our listeners are coming in from the United States. Then secondly we have Japan, Australia, India, the UK, Canada, Germany, the Republic of Korea. And then lastly is South Africa. And when you break the demographics of the United States as a whole you’ll see that California topping the charts. Then we’ve got Texas, Florida, New York, Arizona, Illinois, New Jersey, Georgia and then Pennsylvania.

If this is your first podcast welcome to the show, if there’s anything that you would like to talked about on the Speech Therapy Private Practice startup Podcast, shoot me an email [email protected]. Also want to tell you guys I have a space available for the Perfect student. That’s when you can fly in and work with me hand in hand and we will get you credentialed, ready to Bill and help you set up. You’ll have coaching calls with me, work with me here live in Tucson, Arizona. We will help you grow your own Speech Therapy Private Practice. But a lot of people reach out to me and they say ...