Medical Billing Strategies for Patient ResponsibilityFebruary 1, 2017
The first quarter is typically the largest ‘self-pay’ quarter of the entire year because most patient deductibles are re-setting. In reality however, more and more of a medical clinic’s total billing is going under the self-pay column. Insurance is covering less and deductibles are set higher. Learning how to efficiently ask for and accept more self-pay in your office is a must for your medical billing strategies.
Outsource Receivables provides online payment tools to efficiently collect and record cash, check and credit card payments. iPayX hosts the technology for an efficient payment and reporting portal called MedBizBillPay.com. The employee facing portal can be setup to manage multiple clinic sites, online website payments, electronic payments from patient statements and payments through your offsite billing office. The web payment portal is driven by patient statements which provide a clinic code and patient IDs for posting. There is also the option for employer payments for occupational health services. The suite of payment portal tools are managed by ORI, not your clinic, which helps medical offices focus on collecting patient self-pay at the time of the visit.
iPayX is a web-based credit card payment portal that can be accessed by your employees on any networked computer in the office. The low processing fee and the online nature of this portal make it very easy for your office to implement and use.
Some of the benefits for your office include:
- Eliminate the costs and hassle associated with a dedicated point-of-sale service
- Improved collection rate by providing patients with flexible payment options
- Increased efficiency of your staff to search for payments made by a patient and generate copies of receipts
- The ability to e-mail patient receipts instead of printing
- Offering patients the option to pay online
- Payments are pulled the next day and posted to accounts so outgoing statements are kept current
iPayX is also used for collecting and processing payments that are mailed in, called in and also payments that are made online, including insurance virtual credit cards.
Having as many medical billing strategies for your patient payments on the front desk and in the billing office after services have been rendered are key to keeping your accounts receivables in good health and your patients happy! Outsource Receivables Inc. (ORI) works with a variety of independent mid-size medical practices across the Midwest in Minnesota, Iowa, and Wisconsin to implement best practices that save time and boost cash flow. Give us a call or fill out the contact form to find out about the options available for your practice.