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9 Tips to Improve Patient Collections

9 Tips to Improve Patient Collections

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In the current landscape of high deductible health plans (HDHP) as well as under- and uninsured patients, the timely collection of patient balances is a significant challenge for practices struggling to maintain revenues.

According to a 2015 Kaiser Family Foundation report, 24 percent of employees are enrolled in a HDHP, up from just 4 percent in 2006. Nearly half of all employees enrolled in an employer-sponsored plan have an annual deductible of at least $1,000, representing a 360 percent increase over 2006 costs. Add in the potential uptick in out-of-pocket expenses for patients who are enrolled in Health Insurance Marketplace plans, and a lot of money is hanging in the balance if you don't learn to collect more effectively.

Here are nine tips to improve patient collections in your practice.   

 

Steph Weber is a freelance writer hailing from the Midwest. She writes about healthcare and small business, but finds her passion for the medical field growing in sync with the ever-changing healthcare laws.

Source: 
Physicians Practice

Comments

Or, move to a direct pay model one patient at a time. Call Mejor Health!

Daniel @

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