Implementing No-Show Fees: A Guide for Your Acupuncture Practice
No-show fees are a divisive issue in the acupuncture community. Naturally, almost all patients are against them, but practices are split – are they an unnecessary deterrent for forgetful patients? Or a smart way to prevent loss of revenue and time?
As an acupuncture insurance billing company we see them as the latter, especially for acupuncture practices. The Medical Group Management Association estimates that across the health care spectrum, patients fail to show up for scheduled appointments 5-7% of the time. This can drastically affect your bottom line!
Acupuncture practices are under too much financial pressure to let any revenue opportunity slip by. Implementing no-show fees can protect you from lost time and money, but you have to go about it thoughtfully. Follow these four steps to make sure you handle your new policy the right way.
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Established Set Fees
How much should you charge for a no-show? There’s no right or wrong number. Some practices set a single across-the-board amount – i.e., any missed visit incurs a $25 fee. Others charge a percentage, such as 50 percent of the cost of services that would otherwise be rendered. Still others scale by increments: $25 for missing a 30 minute acupuncture session, $35 for missing a 60 minute treatment. Decide up front which approach feels right for your practice.
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Establish Expectations
How much cancellation notice will a patient have to give to avoid no-show charges? Typically, a window of 24 or 48 hours is acceptable.
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Document a Formal Policy
Compile all of the terms and stipulations of your new fee policy into a written document. CLICK FOR POLICY SAMPLE HERE Have your patients sign it when checking in to their next visit. Store the file in their chart so that if or when a patient receives a bill for a no-show fee you can refer back to the signed document.
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Enforce
Some practices feel guilty following through on no-show fees and use them as more of a deterrent than an actual policy. But don’t be afraid to enforce; your acupuncture practice is a business, and no-shows cost you money!
If you want to lessen the no-show blow as you initially launch your policy, waive the fee for a patient’s first missed appointment and let the patient know you did so. At that time, remind them of your policy and make sure they know they’ll get fined the next time. Note the one-time waived fee in the patient’s chart.
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