Benefits Of Insurance Co Payments At The Time Of Service Essay

Benefits Of Insurance Co Payments At The Time Of Service Essay

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Although it 's considered best practice to collect co-payments at the time of service, things don 't always happen that way. Sometimes your office is understaffed, or the patient doesn 't have the co-payment required, or another issue may arise that prevents collections from happening on the date of service. If this becomes a habit, however, then you are setting yourself and your practice up for long term collection and medical billing issues.

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.

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