With the passage of time the healthcare industry is gradually becoming aware that they cannot have a laid back attitude in their collection practices. The rising cost of health care has made the administrators of healthcare facilities streamline their collection process to get the maximum reimbursement.
Special attention is being paid to recover pocket expenses from patients such as deductibles, copays, and coinsurance amounts. These aggregate to a lot of dollars, and not getting them from the patients would mean a loss of revenue to healthcare companies.
The same effort that goes into collecting the monies from insurance companies is being applied for having patients pay up their dues.
However, the bottom line is, are billing companies crossing the threshold line to improve collections?
Shouldn’t we follow this checklist of ‘Do’s & Don’ts?’
The ‘Do’s’
- At the time of scheduling a patient’s visit, alert them in advance the collection policy. It will have them gather funds for payment before walking into the medical office. This applies specially for patients that have an outstanding balance for deductible or coinsurance. A prior alert may most likely have them pay the entire dues upfront.
- Signs posted in the office notifying patients of collection procedures are another way of having patients make upfront payments, reminders can also be sent through documentation, signs, and information pamphlets
- As a promotional measure of having self-pay patients pay their bills in quick time, offer them discounts. Insurance companies off and on do offer discounts to insured patients, self-pay patients do not usually get the discount privilege. Having them pay their dues in quick time, offering them a discount would be a good idea.
- Offer different payment options to patients that have high out of pocket expenses. These usually run into thousands of dollars, and offering them flexible payment plan will earn the company patient‘s goodwill.
- One way of having patients show commitment to their financial responsibility if they are unable to pay the full balance is having them pay part of the payment upfront.
The ‘Don’ts”
- Never let patients add bills they are unable to pay for as long as it is not an emergency. Allowing the patient to continue receiving the payment without paying the old dues will be misinterpreted, and will be taken for granted that he can extend the timeframe for paying the outstanding balance at his will.
- Do not refer the patient’s outstanding balances to collection, without providing the patient sufficient time to gather funds for clearing the dues. Most collection agencies have an aggressive approach that will deter the patient for future visits to the clinic for any treatment. Give the patient sufficient time, before alerting collection agencies.
- Never disregard delinquent bills, patients overlook the urgency to pay if they are not repeatedly prompted to pay. Gentle reminders during their visit to the facility will encourage them to pay their past-due-bills.
