The Magic Four Step Process to Collecting Patient Balances

This month’s Billing Buddies topic is how to deal effectively with high patient deductibles.  This information is from the NPCC (National Provider Compliance Corporation).  They have released a Four-Step Process to effectively collect the money that’s due to the clinic and more importantly, realize that collecting this money is helpful to your patients.  Your patients want to have clarification on your payment policies and what is expected of them.

To read the full process, click on this link:   The Four-Step Process .

Below is the brief outline of the process.  It outlines the four areas where you should focus on collecting from your patients.  Remembering, the patients want to know your payment policy and what’s expected of them.

1) The first point of contact is when you are scheduling the patient.  Inform them of your payment policy and if possible, let them know up front that you accept credit cards and the other forms of payments you accept.  Part of the patient stress to seeking healthcare is from not knowing the clinics’ policies or how can they pay for their services.

2)  The second point of contact with the patient is at the arrival for the appointment.  Again, inform them of your payment policies and the forms of payments you accept.  It’s a good idea to get a credit card authorization signed by them in advance to automatically cover deductibles, copays, and non-covered services.

3)  The third point of contact to collect from the patient is immediately after their appointment.  Review with them your payment policy and solidify payment either in the form of a deposit at the time of service or a credit card authorization.

4)  Finally, within 15 days of the insurance determining the patients’ liability, you should present the patient with a statement of the balance due.  This will be particularly effective because the patient should have already received an explanation of the balance due from their insurance company.

By implementing this four-step process, you should be well on your way to reducing the number of unpaid balances and increasing your cash flow.

Sincerely,

Bonnie J. Flom

Phone:  952.657.7505

Call or Text:  612.432.2366

Email:   bonnie@billingbuddies.com