7 Tips for Improving Patient Collections

This article provides seven tips for improving patient collections in the physician practice setting. These tips should serve as the basis for a practice’s overall collections strategy to reduce bad debt and enhance revenue. Tip #1: Register patients before their appointments. This includes checking insurance eligibility to ensure that the coverage is active and to identify any copayments and/or deductibles for which patients may be responsible. Let patients know in advance whether any money will be due on the day of the visit. This gives patients the opportunity to ask questions and check with their insurer if they feel that the practice has provided incorrect information. If the practice’s policy is to call patients to remind them of their appointment day/time, take this opportunity to remind patients of their specific copayment/deductible as well. Tip #2: Communicate the practice’s payment policy. Ideally, all copayments and deductibles would be paid on the day of or even prior to the visit. If the practice’s policy is to ensure payment up-front, employees shouldn’t waiver from this policy. In other words, don’t hesitate to reschedule a patient’s appointment if he or she cannot—or will not—pay the amount due. Post this policy clearly on the check-in window as well as on the practice’s website or portal. Encourage patients to ask questions about this policy if they find it unfair. Patients who understand that a medical practice is a business just lik...
Source: EMR EHR Blog for Physicians - Category: Technology Consultants Authors: Tags: Patient Portal Patient Collections Source Type: blogs