TIPS ON HANDLING HIGH PATIENT DEDUCTIBLES
Patient collections are much more than collecting $10 copays: those days are long gone. Patients are paying a greater percentage of what you get paid and will be paying an ever-higher percentage in the years to come. Smart and consistent patient collections tactics must be a part of every practice's financial strategy.
Educate your patients: Most patients don’t understand- Include your payment policies (e.g., copays are required at the time of service) in your new patient paperwork to help patients understand their financial responsibility. Consider including a glossary of health insurance terms (copay, co-insurance, deductible, provider network) in your orientation packet. This will keep your
The policy states that if a patient has a copay or any other payment that needs to be made then he/she should do so at the time of their visit. This is usually done at the end of the visit encase the doctor orders any tests or lab work that might cost the patient more money. Patient’s should be informed of all or any charges and given an estimated cost.
Data was collected in the health center, after the permission to conduct the study with the patient population of interest was secured from the administrator of the health center. Data was collected from January 5th, 2017 to March 5th, 2017. Patients in the waiting room were handed flyer invitation to participate by the researcher, who goes over the contents individually with prospective participants to determine eligibility for the study based on the criteria. The flyer explains the purpose of the study, the population of interest, including how to participate, and once a patient is eligible he or she is given a cover letter written in both English and Spanish that explains that participation is voluntary, and that submitting the survey amounts to giving a consent to participate in the study. The cover letter also explains that there are no benefits to the study, but the results will be posted in the health center where the patients were recruited. After reading the cover letter and agreeing to participant in the study, the patient is handed paper versions of both bilingual surveys along with writing instruments. When a participant is done and has submitted their completed surveys, he or she will be given a copy of correct responses to the DKQ-24 in both English and Spanish.
Offices should have a well written payment/collection policy because you want to make sure that the patients know what is expected of them. Collecting and taking payments from patients can already be a challenge. So when a patient is aware of the written payment/collection policy, they are less likely to have problems with person taking the payments.
The patient is informed about their coverage and the amount of copayment they would have to pay.
Having worked in a medical office for many years and doing medical billing in that office, I have seen first hand the lack of attention and dedication that is placed on the medical billing department. Many times in a busy medical office the job of doing the billing may be placed on someone who has extra time on their hands or has “down time” from their regular duties. If the physician does have an actual billing department with staff dedicated to billing, many times they do not work as
Minimize overdue copays with easy-to-understand statements, broken down by visit. Automatically print letters to patients with outstanding and delinquent balances.
•Collection/Payment. At this time when the patient has been seen and provided with a diagnosis a co-pay or deductible is needed for the visit.
Copay's are fixed amounts the patient is responsible for paying on the medical bill, considering whether or not the patient is insured. Co-pays help keep out-of-pocket expenses down to a minimal. Whenever an insured patient has a doctor's visit or has a covered prescription filled, the co-pay splits the cost between the patient and the insurance company. "Copays split the health care costs between you and the insurance company. After the copay is paid, the insurance company normally pays 100% of the remaining covered expenses. Copays are in place, regardless of whether you have met your calendar-year deductible or not (Goldenrulecom, 2015)."
Medical practices, hospitals and urgent care centers that do not have employees dedicated to medical billing may also be affecting their bottom line. Providing the highest quality of care is the most important aspect of any medical practice, hospital or urgent care center. The high-quality keeps patients coming back. When staff members who specialize in
Debt collections in the Medical field affects millions of people from all life styles, it’s a big problem that I don’t see an end to. There are situations that we can control regarding our own health state but there are unforeseen circumstances, which lead to having medical debt. There are laws that protect a consumer but not everyone is aware of the kind of protection. We need to all educate ourselves on medical debt collections and the process.
Collection: Patient History Patient Number Patient Patient Full Name Patient Last Name Patient First Name Patient Middle Initial Address City State
As these medical debts accumulate over time, it will not only have a financial impact on the patient itself, but will also have a financial impact on healthcare organizations as well. Healthcare organizations will have to either lose the revenue or hire a medical collection agency to collect the debt. This collection process can be very costly as well as be time
In-house third party collection functions may, at first, seem like a better solution. It surely has its upsides for several reasons, but the most important to me is patient satisfaction. When a patient is delinquent on their bills, it is more often due to the fact they are unable to pay the fees—not usually due to forgetfulness. Having a debt collector calling patients day in and day out may make the patient feel even worse about the shame they already feel. Having an in-house collection system may make the patient feel less pressured and more like their care is being thought about as second to the fees they owe due to the personal feel. Those calling to collect are people they’ve seen before, and will probably seem much more understanding. The in-house function is also helps
Hospital is an institution providing medical care and other services for sick and injured persons. The modern hospital has three major functions: patient care, education and medical research. The total number of hospitals around the world is estimated to be about 1,25,000. In the United States there are about 10,000 hospitals providing services and facilities for the humanity. There are also more than 10,000 nursing homes providing care to the chronically ill and the aged. Thus hospital provide a great service to the society.
Being familiar with the office payment policies because its will help us explain to the patient if the patient doesn’t have a clear understanding of the policies. Trying to explain something that you don’t you understand to someone else can make a person look kind of foolish. Medical office professionals should be able to memorize the policies.