Here are 5 ways you can increase your practice 's front desk collections and avoid having to bill for past due amounts from your patients, or issue refunds for over-payments.
1) Collect Payments Upfront
To avoid bigger collections and revenue cycle management issues than your practice wants or is able to handle, you need to ensure that the majority of insurance co-payments are being collected at the front desk, on the day that services are provided.
Collect a patient’s co-pay, deductibles, past due balances in the office, at the time of the appointment. Do not give patients the option to pay at the time of service, ask them how they would like to pay.
Proper training of office staff is critical to accomplishing this goal. Prepare them with sample scripts on how to ask for payments and the obstacles the patient will present so your staff is prepared to have the conversation.
Whether it is on the phone while collecting patient information or at the time of service, asking for the payment and making the patient aware of their financial responsibility is critical. Post your policy on your website or around the office so the expectation is set.
2) Implement a Credit Card on File Program
In some cases, however, it may make more sense to bill patients at the end of their visit, since the r...
... middle of paper ...
... amount on a regular basis. However, if your front desk administration is left in the dark about the reasons for patient visits, they will have a harder time accurately collecting co-payments, which may result in more refunds and more time spent trying to follow up with patient to collect payments.
Increase Efficiency of Practice Operations
By keeping up-to-date patient records, implementing a credit card on file program, clear co-payment collection procedures, and enforcing upfront payment collection and insurance verification polices, you can successfully increase front desk collections at your practice and improve the efficiency of your revenue cycle management.
And by helping your front desk staff to collect more accurate co-payments, you can increase the overall efficiency of practice operations, benefiting you, your staff, your patients, and your bottom line.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Background Medicare can be best described as a program, most commonly a social program that is put forward by the government of a country or state. It is a social insurance program. This scheme gives access to health services and health insurance to specific special groups in the society. This may include persons aged above sixty five on condition that they have worked and as well paid into the system. It may also include young people who might have physical disabilities in one way or another. Medicare is described as a social insurance program in the sense that unlike private insurance which regulates the premiums earned with respect to the level of risk involved, Medicare actually tends to... [tags: Health insurance, Health economics, Health care]
2014 words (5.8 pages)
- Nothing is free. You pay either price or tax for the air you breathe, no way can you get health care free of cost. Health insurance is a way to pay the cost for health care. Most people cannot afford to pay the high cost of health care on their own and that’s where the insurance comes in. It simply a protection from paying the full cost of medical services when you’re not well. The payment is in the form of monthly premium. People have freedom to select the plan from different insurer in the health insurance market and pay decided fix amount as a premium.... [tags: Health insurance, Health care, Insurance]
1644 words (4.7 pages)
- Definition Health insurance is insurance against the risk of incurring health care related expenses. It indemnifies the insured for the related financial loss. It is important to note that health insurance is a form of short term insurance. Disability, critical illness and long-term care insurance are all subclasses of health insurance. When an individual buys health insurance, he/she enters into a contract (policy) with the insurance company so that for a monthly premium, the insurance company will provide cover for medical expenses incurred.... [tags: insurance companies, premiums]
897 words (2.6 pages)
- Life insurance coverage includes two types: Term Life Insurance and Permanent Life Insurance Both of the life insurance offers you demise advantages for a trade of a policy holder 's premium. Near to the end it provides cash value cost savings as well as the death benefits. You need to follow some rules before taking the claim of the benefits. For you to benefit yourself of the life insurance advantages, you ought to take after particular protocol. You have to contact the insurer or maybe any of the insurance agency’s agents and request the necessities furthermore form to fill up.... [tags: Taxation in the United States, Tax, Insurance]
912 words (2.6 pages)
- As an Introductory chapter, Its plan section wise is designed for quicker, easy and clear understanding. In this chapter there are seven sections . Section 1.1 deals with basic aspects of Health Insurance at length. While section 1.2 treats preliminaries of Security, Section 1.3 is about problem context. Section 1.4 explains research Hypothesis. The next section 1.5 explains the aim and objectives. The penultimate unit, Section 1.6 depicts the scope of this research undertaking. Finally, the last part is devoted to the chapterisation of the thesis which is entitled as section 1.7 Dissertation Organization.... [tags: Health care, Health insurance, Health economics]
1715 words (4.9 pages)
- Employee Benefits and Planning What is the term PPO stands for. Preferred Provider Organization What is the Characteristics of PPO. Tends to be used in two ways. One way to apply to health care providers that contract with employers, insurance companies, union trust fund, third-party administrators, or others to provide medical care services at a reduced fee. PPO may be organized by the Providers themselves or by other organizations, such as insurance companies the Blues. Like HMO they may take the form of group practices or separate individual practices, they provide a broad array of medical services such as Physician¡¦s services, hospital care, laboratory costs¡K or they may be limited... [tags: Employee Benefits Insurance]
1217 words (3.5 pages)
- UNDERSTANDING YOUR HEALTH INSURANCE POLICY AND PLAN OPTIONS. Like all insurance policies, health insurance is a contract or agreement between you and the insurance company you select. You buy a plan, and the company agrees to pay all or part of your medical costs when you get sick or hurt. The better or more expensive the plan ,the less you will pay when you get sick .Each of the new plans covers all of essential Health Benefits and once you reach the annual out of pocket maximum all medical and prescription expenses are covered 100% for the rest of the year.... [tags: Health care, Health insurance, Health economics]
1018 words (2.9 pages)
- China’s health care is primarily financed through public health insurance, private health insurance, and out-of-pocket spending (The Commonwealth Fund, 2016, p.31). Publicly financed health insurance is provided from three primary sources: the New Rural Cooperative Medical Scheme (NCMS) which covers rural residents in general, Urban Residents-Basic Medical Insurance (UR-BMI) which covers unemployed urban residents, and Urban Employees-Basic Medical Insurance (UE-BMI) which covers employed urban residents (Barber & Yao, 2010).... [tags: Health insurance, Medicare, Finance, Health care]
844 words (2.4 pages)
- A.1 Standards Medicare is health insurance coverage provided by the Federal Government. In order to qualify for Medicare, you must meet certain conditions. A person qualifies if they are 65 years of age and older, a person may qualify if they are under the age of 65 with disabilities or have end stage renal disease that requires dialysis or needing a kidney transplant. Medicare does not cover the cost of all healthcare. (Social Security Administration, 2016, p. 4) Medicare has four parts A, B, C, and D.... [tags: Health care, Medicare, Health insurance, Hospital]
872 words (2.5 pages)
- A(1). Fee-For-Service or Traditional Indemnity plans are uncommon but still used. Payment is rendered for services provided. Traditional Indemnity plans in general have no provider network and a patient can see a specialist without a referral. If a patient uses an FFS plan, the patient would pay the provider for medical care provided. If the medical care provided is covered by the plan. The insurance company would then reimburse the patient according to the guidelines stated in the policy or the UCR’s “Usual, Customary, and Reasonable Fees.” (“Private-Fee-For-Service Plans,” CMS.gov, 3/16/2012).... [tags: Health insurance, Health care]
1176 words (3.4 pages)