June 2004

Autodebit your way to lifetime income

by Dr. Geoff Ricchio

What is the number one way that multi‑billion dollar businesses get paid? They get paid by the system of autodebit.

Health clubs, online web services, cable companies, auto insurers, life insurance companies, mortgage lenders ‑‑ all use the systems of autodebit or automatic payment to guarantee that they are paid 100% in the proper time.

I started using autodebit in my own practice eight years ago after I found out the following important information:

1. Patients don't like to receive bills from you in the mail. Many patients will ignore your bills or even get angry at you if you bill them for services not paid. These patients will not refer other patients to you and may even sue you if you try to get paid!

2. Patients don't like to pay money every visit at your office. Statistics have shown that if patients have to pay money at each visit to your office, it will cut down on the number of services they receive at your office due to lack of funds or inability to pay each week.

3. Most patients now use autodebit in some way in their lives. Believe it or not, most of your patients now use autodebit to pay bills. You should use autodebit to get paid from patients in the following ways:

‑‑ Payment for deductibles and co‑pays. Give the patients a year to pay for deductibles and co‑pays by deducting a small dollar amount each month for one year. This will enable them to come to your office with no financial worries and hence receive more treatment for longer periods.

‑‑ Payment for pre‑pay programs. Sell $1,000‑2,000 plans to your patients and autodebit the payments over a year.

‑‑ Payment for old accounts receivable. Remove your old accounts receivable by autodebiting a small dollar amount each month for a year.

‑‑ Wellness programs. I can't say enough about an autodebit wellness program. I had 800 patients paying me $39‑49 each month for six and‑a‑half years. You can set up a chiropractic or massage wellness program that will pay you income forever using autodebit.

I have found the most important way to set up an autodebit program is by using massage. I've helped more than 600 doctors create a massage wellness program in their offices to create an income stream that pays them thousands of dollars every month. The program is called the Rub Club.

The Rub Club autodebit system will create a massage program in your town or city that will enable even the most anti‑chiropractic person to receive services in your office.

Sample programs: Two 30‑minute massages and one adjustment for $49.95; three 30‑minute massages and one adjustment for $79.95. 100 patients on these programs would pay you $60,000‑100,000 per year in guaranteed income.

As these are inexpensive programs based on wellness, many of your patients will join and pay you using autodebit for years to come.

You can also create a program based solely on chiropractic adjustments. Examples: Two adjustments per month for $49.95; four adjustments per month for $89.95. Again, 100 people paying you monthly using autodebit will make you $60,000‑100,000 yearly in guaranteed income.

Autodebit is the most underutilized payment program in the health care arena today. I feel certain that if you use it properly, you can experience the financial freedom to grow and enjoy your practice like you've never dreamed before.

Call me to speak with me about how autodebit can apply to your practice.

(Geoff Ricchio, DC, is a health care consultant to medical, dental, and chiropractic physicians across the country and instructs providers on proper marketing and collection techniques. He presently consults with more than 400 health care providers nationwide. He can be reached at 831‑GET PAID for training seminar or a FREE audio CD introducing his most exciting and important products, the "Get Paid Small Claims System," and the "Get Paid Cash Autodebit System.")