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Are Providers in Need of a Line of Credit to Face Upcoming Challenges?

Thursday, January 26th, 2012

Collecting deductibles and co-pays once a patient leaves your office is time-consuming, costly and makes practice cash flow inconsistent and unpredictable. If you’re like most practices, during the latter half of a calendar year, many of your patients have met their deductibles and insurance covers the majority of their office visits and medical needs.  As we turn the calendar over on 2012, it’s a good time to remind your front desk team that a new benefit plan year has begun and reinforce your collection procedures. A well-trained medical biller on your team is your best weapon in keeping your practice [...]

Creating Practice Policies For Collecting Patient Payments

Thursday, April 1st, 2010

How good is your practice at collecting at the time of service?  Collection rates can be improved in any medical practice with following office protocols and policies.  If you do not have policies on collecting then now is a good time to create them.  Here are a few steps for creating a collection policy within your practice. Step 1 – Collecting Begins With Appointments When creating your collection policy for the practice, think of where the visit begins.  Patients are much better at paying when they are informed up front of the expected costs.  Instill a practice of affirming to [...]