Collecting patient payments is often a difficult task. We have developed five best practices to improve your patients’ accounts receivables
Can You Pinpoint What Went Wrong?
My 3 year old daughter was seen twice by practice. No payment was collected from the practice at the visits. The practice filed the claims after each visit and both were applied towards our family deductible. Three months followed and we had not received a statement from the practice. A follow-up visit occurred in three months later. The front desk staff did not ask for a payment upon checking-in. After I verified that the practice had my correct mailing address; I informed them that I have not received a statement, and that I should have a balance. I was given the practice website address that I could use to view statements and make additional payments. Once again, the practice filed the claim after the visit and once again it applied to our deductible. Three weeks after the visit, we have yet to receive a statement in the mail. I went to their website but was unable to register to the patient portal as it required additional security code information not provided by the office. I called the practice to try to make a payment. The practice staff was courtesy and prompt on the phone but informed me that the “billing” personnel was unavailable and that I would have to leave a voice mail. Due to his/her absence, I was unable to make a payment over the phone at that time.
Here’s What Should Have Happened:
Step One: Verify and Collect Deductibles, Copays, and/or Coinsurance
The physician’s staff should have identified patient costs when they verified coverage before the visit. They then should have collected the full insurance allowed amount for each visit prior to the patient checking-out.
Step Two: Send Monthly Statements
The practice should mail monthly statements to each patient that has a balance.
Step Three: Provide Information for Easy Online Payments
If online patient-portals/payments are available, the patient should be given the appropriate instructions on how to register and the website should be user-friendly.
Step Four: Train Staff on the Importance of Collecting Patient Balances
All staff should be trained on researching patient account balances and receiving payments.
Step Five: Train Staff to Collect Balances via Phone
If a patient calls to inquire about a balance, the staff should immediately attempt to collect the payment over the phone.
Review Your Processes and Collect The Payments from Patient Promptly
Our current insurance environment is one of high patient costs leaving payment collections as an important part of any practice’s revenue stream. How much money are you losing due to a lack of patient payments? Contact Medical A/R Revenue Solutions, LLC at 850-219-0111 or email jamesb@armedicalclaims.com today to schedule your free consultation!
Author: J.R. Blue, MPA, CPC, CPB, CPPM