Understanding the area of Medicare and reimbursements can be a bit tricky, but learning how to navigate the process can be beneficial for both your customers and your business.
The most important thing to keep in mind is that contracting with a lien company can allow you to work with clients who have suffered personal injury and increase your income.
Having worked in the massage therapy industry for almost 20 years and running a massage consulting company, I have gained a wealth of experience working with professionals in the insurance, billing, legal, and healthcare companies. privilege.
No matter where you are in your massage business, whether as a beginner or as a seasoned professional, it is important to understand all aspects of the business. From learning what works best for customer comfort to billing and insurance details, nothing should be overlooked. You need your business to run smoothly, with as few bumps as possible on the road to success.
Provide flexibility to customers
Although massage therapy provides an element of comfort and relaxation, its main objectives are to complement traditional medical procedures; relieve tension, stress and anxiety; and help restore the mobility and balance of a person who has been injured by forging a path to well-being and pain-free life.
After being involved in an accident or injured in some other way, the last thing a client wants to face is the difficulty of trying to figure out how to pay for the medical care they need; especially because in this kind of situation the bill can be quite heavy. Not only that, the necessary massage services are usually for a continuous duration depending on the severity of the injury. This can put pressure on the client’s pockets.
The great thing is that you can provide flexibility to your customers by giving them options to help them pay for services when they need them: direct billing, insurance billing, or usage. of a lien company are all great ways to ensure your client has an enjoyable experience while receiving your benefits.
While many massage therapists are familiar with direct billing, that is, when the bill is paid directly by the client, and insurance billing, that is, when the bill is sent to the company. insurance by which your client is covered, most people do not understand another payment. option: use of a privilege. This is what I want to dig a little deeper into in the hopes of giving you a better understanding of how to incorporate this into your practice.
What is a link company?
A lien is when a loan is put against compensation that the customer might receive once an injury case is over. As a massage therapist, you can choose to work with a privileged company to help your clients with the cost of their care.
Often times, clients can find themselves in a situation where they cannot pay for the care out of pocket and their insurance does not cover the type of treatment, such as massage, that is required. This is where working with a Privilege Company can come in handy. This allows you to work with someone other than the client’s lawyer to establish a payment schedule that works for everyone.
I am convinced that when people hear the words privilege or privilege company, their guard automatically goes up. Either they fear adding an intermediary to the business equation, or the word privilege has a very negative connotation, since it denotes the right to retain possession of property belonging to someone else until that a debt owed by the person is paid.
Well, in this case the lien company helps you as a business owner by guaranteeing payment for the services you provide. This should not be viewed as a negative thing, but as a way to help you and the client work together to make sure all expenses are covered at the time of services, which means the client does not have to worry. worry about payments and you take no responsibility when choosing to work with a client, thus making the middleman, the privileged company, the perfect solution to the problem.
Work with a link company
Choosing to become an entrepreneur for a lien firm is a step in the right direction for those who wish to work with clients who have suffered personal injury, as it eliminates the risk of having to wait for the client to pay you after the lawsuit is finalized. . Plus, in some cases, if the client doesn’t win the deal, you don’t get paid and your business may end up losing revenue.
However, when a lien company is involved, it allows you to get paid in a timely and consistent manner, which essentially allows you to take control of your business and payment process while still being able to provide the necessary services to the client.
Another advantage is that you will have access to more clients in most cases, which will allow you to easily increase business traffic. Think of it as a sort of referral program that puts your business in the sights of people who need a way to get the services that a business like yours has to offer.
Being able to reach more customers every day and being ready to provide them with the services they need immediately is a win-win situation for everyone.
Adding Privilege Company contracts to your business is also a great way to set yourself apart from the competition and is a powerful networking tool. You will then have a means for clients to access your services when they would otherwise have no means to do so or when others have refused them care due to their inability to pay.
By using a Privilege Company, you will be able to provide care when people need it most. It shows your clients that you are willing to go the extra mile to ensure their recovery needs are met and that you have compassion for them on all levels.
Great customer service is one of the foundations of a successful business, and it brings people back to the company of their choice time and time again because they know they will be treated fairly and with integrity.
When people are in pain and in need of care, as massage therapists by nature we instinctively want to provide them with the treatment they need. However, the business aspect requires that we make sure we are covered for the services rendered and that we are not left behind when it comes time to bill.
Making a profit is an important part of doing business and must be managed responsibly to keep your practice sustainable, as well as supporting your family and providing the services your clients need. When using a privilege service, you can set the payments to be received at the end of each week, ensuring that you receive your payments on time, which in turn puts you in control of your daily, weekly and monthly business expenses. .
Making sure you have a variety of payment options takes a lot of stress off you as a service provider, as well as your customers. Learning how to work with a lien company is a great way to improve your services and supplement your income at the same time. If you’ve been hesitant about using a lien company or not, take my advice and give it a chance.
How to choose a privilege company
Balancing administrative procedures and streamlining business details allows you as a massage therapist to focus on what matters most – the recovery process for the people you serve.
If you want to become a supplier for a privileged company, the best approach to take is to do your research first.
Try calling law firms or doctors who specialize in pain management and ask which privilege company they work with. (I love Marrick Medical because of their great customer service, easy-to-use dashboard, and fair compensation, in addition to their services offered in many states.) The most important thing is choosing a company that fits. best for your massage needs. therapy business.
No two lien companies are created the same, so take the time to research different companies and choose the one that best meets your business needs. Such compatibility will promote a better long-term working relationship and allow you to feel comfortable doing business with the Privilege Company.
Three questions you should start with are: What types of cases do you accept? What is the split between the supplier and the company? ; and what is the payment term? Make sure you take good notes and document everything, as good management will make the whole process a lot easier for everyone. (To get started, just go to Google and type in the phrase lien company for a list of these businesses in your area.)
Working in the massage therapy industry is both rewarding and challenging. Making sure you know the ins and outs of doing business can be difficult at times, but with a little mentoring and research, and implementing resources that will help stabilize monetary transactions, the pressures of billing can be. mitigated to some extent. Working with a lien company is one way to get involved with clients who are recovering from accidents and injuries, without jumping through all the insurance reimbursement hoops.
About the Author:
Jeanette Falu-Bishop is the owner of Massage Business Education & Branding LLC, through which she teaches how to start or improve an already established massage business through pre-recorded online courses, live trainings and business conferences. His articles for MASSAGE magazine include “Making 2021 the Year of Self-Care: 7 Ways to Set Boundaries, Connect, and Succeed.”