Optimizing self-pay collections requires understands where and how you can affect performance.
Check eligibility to get more money, faster.
About 60% of Americans are insured through their employers. To cut costs, these employers are passing fees on to employees through increased copays, deductibles, coinsurances, and decreasing overall benefit coverage.
With patient deductibles and coinsurance increasing each year, patient collections can make or break the financial health of a practice. It all starts with checking a patient’s eligibility. With a user-friendly tool, you can verify a patient’s eligibility, plan specifics, and copays/deductibles.
It’s important to check eligibility to:
• Obtain up-front collection of copays and deductibles
• Eliminate claim denials, claim resubmittals, and unpaid patient balances in accounts receivable (AR)
Execute self-pay best practices:
- Check if patient does/does not have insurance
- Obtain accurate patient demographics data
- Provide front-end staff with training
(and ample scripting) to increase comfort with point-of-service collections
Implement creative ways to collect patient payments:
- Kiosk technology
- Patient portal
- Electronic statements
- Service refusal (to patients who owe money)