Tips for Improving Patient Collections

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• Tips for Improving Patient Collections

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Tips for Improving Patient Collections
Practices and providers across the country have
had to deal with difficulties ensuring all their
payments are collected in full and on time.
Patients payments are a larger percentage of
practices revenue. According to MGMA Practice
Perspectives on Patient Payments, provides are
collecting 1 of every 4 directly from patients,
and 30 of patients walking out of the door
before theyve paid anything, this task becomes
increasingly difficult. To help improve your
patient collections, here are three tips your
practice can put into place Standardize
eligibility Every patients insurance eligibility
check should happen prior to the appointment.
According to CAQH and Milliman, Inc.s U.S.
Healthcare Efficiency Index, checking patient
insurance coverage manually costs an average of
6.83 per verification. Collect Cash Payments If
patient do not have insurance then collect the
patients payment at the time of service. Sending
statements costs money and staff time, and you
are less likely to get paid once a patient leaves
your office. Transition to e-statements Enable
electronic payment collection portals, so
patients can submit their payments conveniently
from home at any time of day, often resulting in
quicker collection of payment. Online payment can
also reduce paper, printing and postage costs
related to sending patient invoices.
Medical Billing Services in Oregon
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Tips for Improving Patient Collections
Process billing regularly Perform patient
billing on daily basis to avoid a delay in
patient payments. We can help you to bill
regularly for daily patient visit. We have highly
qualified Medical billers. Establish office
billing standards Write policies that help staff
manage billing software more efficiently by
establishing standards for when they should post
a charge or send a patient balance statement.
Completing these tasks in a timely manner can
increase the chance that patient payments will be
collected earlier, potentially improving your
cash flow. We can assure you that our staff will
follow all your policies to boost your practice
revenue. Hiring a medical billing agency can, of
course, take care of all of these problems.
Contact Medical Billing Management for help with
improving your patient collections.
Medical Billing Services in Oregon