Clear and precise patient statements will get you paid faster. By Tameka J. Duncan, CPC, CPB, CPPM Accounts receivable collections on patient balances are vital to the sustainability of any physician’s office. Although it’s best practice to collect co-pays, co-insurance, deductibles, and self-pay payments up front — either during the check-in or check-out process — ...
Education and flexible payment options are keys to success. By Robin Upton, CPC Patients who do not understand their health insurance or financial responsibility turn into unhappy customers when they receive an unexpected bill from your physician office. Educating patients up front regarding these matters and offering payment options helps to prevent unpleasant situations that ...
When claims are not getting paid in a timely manner, eliminate the holdup. Accounts receivable (A/R) is the bread and butter of an office. To support the livelihood of your practice, ask your employees to think about uncollected balances from a personal point of view. For instance, would they wait 120 days to receive reimbursement ...
Patients make payment a priority when you make their quality of care a priority. About a year ago, I began seeing my clients’ patient balances increase. After some investigation, I uncovered an explanation: Providers and their staff are becoming less comfortable having the “money talk” with patients; and patients, consequently, are feeling less obligated to ...
Not collecting co pays, co-insurance, and/or deductibles: These amounts are the patient’s responsibility at the time of service. Filing claims and collecting co-pays promptly are keys to a profitable practice. Having an Improper Fee Schedule: Without current coding codes and optimal pricing for your services, you most likely are being underpaid for your services. Not ...