Changes in healthcare industry led to new challenges for revenue collection process. A healthcare provider has the option of performing the process in-house or outsource it to a specialist third party. If the healthcare provider is managing the billing in-house, here are five tips to help maximize patient collection and revenue collection from them.
Structure a well defined, documented collection process
The most effective way of implementing a collection process is to provide information to staff and patients in a well-documented format.
Provide training seminars for new staff to educate them about the collection process. Present new patients with documentation about the expectation from them regarding payment collection. Provide each patient with the available payment option up front to educate them about their responsibilities and payment options.
Upfront payment collection
Collecting payment on patient’s arrival at the office can reduce wasting staff resources to chase them down later. Remind your patients about their obligation to copay and go through their insurance policy to identify their copay amount.
Collect detailed patient information
Collect adequate information about your patients, like name, email, phone number, and photo ID copy. This database can be useful for checking patient’s insurance eligibility regularly and send them notification or bills if needed in the future.
Adopt the latest technology
Online accessibility is the key here. A patient can benefit from an online portal that allows them to leave messages for staff and get a quick response, view and pay bills online, and get reminders about an upcoming appointment or request one online.
Offer incentives for better patient collection
Establish an incentive program, if you have not already done it, to ensure proper management of denied claims and payments by workers. Evaluate their work to ensure they follow proper protocol for patient collection. Offer prizes to motivate staff to reduce unpaid claim percentage.
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