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Home » Blog » The No No Nos of Financing a Healthcare Franchise Urgent Care Center

The No No Nos of Financing a Healthcare Franchise Urgent Care Center

July 28, 2017 by OrthoNOW Leave a Comment

By: Justin Irizarry

We’ve all heard the advertisements touting no money down, no interest, and no payments for x days – but did you know that a healthcare franchise technically offers this type of payment option? As a result of billing practices, many urgent cares offer this type of “no-no-no” advantage to patients. These payment options aren’t advertised but exist as a symptom of the practices in place. In addition to not being advertised, these billing practices don’t do what typical retail campaigns do: they don’t draw in new patients, they don’t increase return visits from existing patients, and they result in lost revenue. While this type of billing might be beneficial to retail businesses, it’s not ideal for a healthcare franchise.

One typical situation where the “no-no-no” payment plan occurs is when a patient receives services and then receives a bill after the services are rendered. Many practices operate in the following manner: a patient receives services, does not pay a co-pay, and is told they will receive a bill for the remaining charges that an insurance provider doesn’t cover. This can severely hamper the operation of a healthcare franchise as it sets patients up to not pay their bills or pay well past when services were rendered. Even if a patient has insurance that requires a 20% co-pay on the total cost of the visit, a location can tally up the charges and collect that amount on the day of services. Then if insurance comes back with another amount that they will not cover, a bill can be sent to the patient. If a healthcare franchise collects at least 20% upfront in this scenario, it softens to the blow to the bottom line.

To protect your healthcare franchise from this unintended pricing structure, there are some steps you can take.

  • Make Sure Personnel is Trained. Ensuring that the front desk staff at your healthcare franchise is aware of proper billing procedures and understands how insurance works is key in making sure you don’t lose valuable revenue, or spend forever trying to collect it. Having expert staff when it comes to billing and insurance is essential.
  • Have a Policy and Make Patients Agree to It. Many healthcare franchise locations have financial policies and ask patients sign documentation that they understand and agree to billing procedures. This policy should outline what the billing procedure is, when payments are expected, and outline what late fees will be incurred and when. Once patients agree and sign the document, keep it on file in case of past due accounts.
  • Verify Patients’ Insurance. Your staff should know to verify a patient’s insurance information and validity during check in. In addition, understanding what’s covered in the policy is crucial to being able to charge the appropriate amount and getting paid for services rendered.
  • Submit Claims and Send Bills Immediately. Making sure your patients know how much they owe while they’re still at your healthcare franchise can increase the chance that you’ll be paid in full. In addition, submitting claims and sending bills in a timely fashion is key in collecting the dues that you’re owed for service rendered.

Making it as easy as possible for your patients to settle their dues will result in increased payments. Be clear and concise in your communication about the cost of services rendered and make it simple for patients to pay. Offering online payment options at your healthcare franchise can also contribute to timely payment and staying on top of billing.

OrthoNOW is the first and only Orthopedic franchise. Contact Christine Dura at Christine@orthonowcare.comfor more information about franchise opportunities.

Justin holds a B.A. in Economics from Cornell University, where he was a 4-year varsity baseball scholar-athlete, and a M.B.A. from The Wharton School at The University of Pennsylvania, where he was a Joseph Wharton Fellow. In addition, he has earned the right to use the Chartered Financial Analyst® (CFA) designation, the most respected and recognized investment designation in the world. Justin has more than 13 years of experience acting as a trusted advisor and interim executive for a wide range of companies. His diverse business experience has led him to advise for boards of directors and senior management teams in the education, information, digital real estate, medical, and technology industries. Justin started his career on Wall Street with the Education and Information Group at Scott-Macon, Ltd. As the Vice President of Scott-Macon, he was responsible for sourcing and executing transactions in the $50 – $300 million range. Justin joined OrthoNOW® in 2010 and started the Franchise with Dr. Alejandro Badia in 2012. In addition to his role as Co-Founder &CFO, he serves as the Director of Operations of OrthoNOW® Doral.   

Justin remains active with his alma mater and serves as a volunteer mentor to incoming freshman as part of the university’s Alumni-Student mentoring program and as a university interviewer for South Florida applicants to the university.  Justin was recently named a Top 40 Under 40 by South Florida Business Journal for his contributions to the South Florida community as the CFO and Co-Founder of OrthoNOW®, the nation’s only network of orthopedic urgent care centers, and for his work in developing and activating a business model that changes how South Floridians access expert orthopedic care on-demand and at a cost-effective rate.

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Luis Acosta
Luis Acosta
14:51 04 Jan 23
Amazing experience at the rehab facility. The staff is very dedicated and caring toward their patients and road to... recovery. Scheduling is convenient and simple with time slots ranging from early morning till late afternoon. Thanks to OrthoNow rehab I was back too 100% way faster than expected. Thank you!read more
Richard Baldriche
Richard Baldriche
16:37 23 Sep 22
I cannot begin to tell you how extraordinary the employees at OrthoNow Rehab are. Let’s begin with Kristen and Laura at... the front desk. They receive everyone with smiles and are always willing to accommodate any of your scheduling needs, not to mention appt., reminders and answering any questions you may have. Both therapists Amanda and Angela have definitely changed my life. Due to their care and expertise I have been able to return to my daily routine and activities. They are both extremely knowledgeable and their bedside manner’s are second to none. I would highly recommend OrthNow Rehab to all my family and friends.read more
Conner Eaton
Conner Eaton
18:23 16 Sep 22
Orthonow Rehab has to be one of the most professional therapy centers in South Florida. Customer Service is by far... too-level. I highly recommend this facility to anyone who needs physical therapy. They treat you like family more than they treat you as patient. I love everybody that works at Orthonow Rehab. Thank for helping make a stronger comeback.Also they have the best damn Cuban coffee in town!!read more
JV Cali
JV Cali
12:33 02 Sep 22
The place is really professional and clean, from the front desk with Kristy to the real deal therapy with Alrey which... has really help me improve my rehabilitation with his instructions and patience in explaining and performing his Job! Also the team in general is really friendly, and the Doctors from Ortho Now were amazing, straight to the problem I had and all the recommendations really helped me with my injury and pain!! Thanks a lot! Keep the hard work!read more
Rika Nomura
Rika Nomura
22:18 26 Aug 22
I have been going to OrthoNow Physical Therapy Center for 6 weeks to heal from my rotator cuff tear and bursitis on my... shoulder. The front desk ladies, Laura and Kristen are very sweet and professional. My therapist, Arley is dedicated, personable, enthusiastic, and good with patients. Since I’m having a great experience with OrthoNow, I will highly recommend this place to all of my friends, colleagues and family members if they ever get injured. I’m truly loving all the staff at OrthoNow Physical Therapy Center. 👍😍😄read more
KACEY
KACEY
20:21 25 Aug 22
Very good customer service. Will make you feel welcomed and ready to train for your benefit. I’ve been going for a... month and i’ve been healing quicker than expected after getting an ankle injury. 10/10 recommend. Arley is the best physical therapist!read more
Carla Lemon
Carla Lemon
18:16 22 Aug 22
Laura , Kristin , Arley, Jorge are AMAZING. and makes the best Cuban coffee. Very friendly atmosphere makes you feel... realComfortable.read more
Barbara solis
Barbara solis
20:49 01 Jul 22
The best Therapy center in Miami! The staff is amazing and are extremely nice. The customer service is 10/10. Arley the... PTA is the great and his attention to the patients is like no other. Laura the front desk is so kind and is very attentive to the patients. No matter what you need she will help with any request. All the other staff including the other therapist are incredible. I 100% recommend this office. Do not waste your time finding another office!read more
Amazon World Trading
Amazon World Trading
23:30 12 May 22
This has been one of the worst experience I ever had with any service provider of any kind. People at this office hate... their job, starting with the main therapist that works in the morning. In several occasions I heard him cursing the fact he had to be there working in the morning. Then he would punish his patients by letting them sitting around waiting while he watched videos on his computer. I am returning from a new therapy office I had to go to complete my therapy and I just realized how poor of a service I was receiving at ortho now Doral. Do yourself a favor by spending a bit more time on research before choosing this place.read more
Luis Villaboy
Luis Villaboy
23:39 29 Sep 21
im very happy with orthonow rehab team on especially with Amanda assistant therapist ,she has very good treatment... towards her patientsthank you very much for your help.read more
Oli G
Oli G
13:52 29 Sep 21
Great overall experience. I had a full labrum reconstruction done by Dr. Badia (Amazing work).The staff at the rehab... center were amazing as well. Very professional and extremely competent in their craft. Ive recommended them to my family and friends. I am thankful to them that I have full range and great strength in my shoulder once again!read more
Gabi Garcia
Gabi Garcia
13:17 29 Sep 21
I got injured and was referred to OrthoNOW for therapy. Everyone from the front desk to the therapists were extremely... professional, kind, and made me feel like I was a part of the family. I would definitely recommend!read more
Marquell Baughns
Marquell Baughns
15:20 17 Sep 21
After two hand surgeries, OrthoNow is a Godsend. I had very limited movement in 2 fingers on my right hand. The “Double... A’s” (Angela and Amanda) have really been a light in this process. The care and concern that I’ve received has been great. It feels like a family. From the first appointment, Kristen has welcomed not only me but every patient that walks into the office by name. It means a lot that they show they care and you’re not just another person. Laura is the best and if you’re nice and tell her you know me, you just may end up with some of the best coffee on this side of the Palmetto! OrthoNow has really helped me on my road to recovery and restoring movement and flexibility to my hand. I’m happy to be family member now.read more
Leo Zabala
Leo Zabala
02:01 08 Sep 21
Great service and amazing staff! If you need Physical Therapy look no further. You won’t be disappointed.
David Clodfelter
David Clodfelter
19:20 29 Sep 20
I am writing this review based on my last visit to the Orthonow office in Doral. I have visited this location numerous... times in the past, seeking medical attention and was always greeted with the upmost professionalism. This time the Physician Assistant on shift did not agree that I should be treated at all and directed me to contact another physician. At that moment I was in severe pain but understood that he had the right to refuse treatment. It would have been nice though if he had at least given me something for the pain. He did not agree with the treatment that I requested even though I received the same treatment at that location three times before. He instructed the person at the front desk to refund my copay and let me go.read more
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