Yes, it is that time of the year again. It’s the time of the year when deductibles reset and patients are required to pay more out-of-pocket until their deductibles have been met. Self-pay medical billing is typically more difficult to recover than insurance billing. What can your practice do during this time of year to ensure your cash flow doesn’t dry up? What is your clinic strategy?
Much of timely self-pay recovery depends on your schedulers and front desk staff, not just the back office medical billing. They are the first people to speak with your patients when they’re scheduling and checking in for an appointment. We’ve compiled a short list of tips and ideas to use at this first interaction to help encourage your patents to pay in a timely way.
- Have your scheduling staff gather insurance information upfront so you know you are sending you bills to the correct insurance is simple, but critical for your success. Ask for your patient new insurance card at check in time.
- Post a sign on the check-in desk reminding patients that deductibles have reset for the year and they should be prepared to pay their portion as soon as they receive a bill.
- Submit your charges in a timely way to insurance. Any delay in the billing process will slow down you cash flow.
For more information about cash flow for your practice or medical billing issues, contact ORI.