Ways to improve cash flow and patient payments in your practice
Patient Payments Verifying a patient’s coverage prior to their visit will keep your office aware of the patient’s benefits, and confirm their insurance is active for their visit. Notify patients payment is due at the time of service, and have a sign posted in your waiting room. Collect payments prior to services rendered
Understanding Patient Responsibilities – Deductibles, Co-pay, Co-insurance
Health Insurance – How to make sense of everything Co-Pays, Deductible, Co-insurance, Out of Pockets, all of these things can seem very overwhelming at first and hard to make sense of. In this blog piece we’re going to go over and breakdown different aspects of insurance benefits that can impact your practice’s cashflow and income. Having a skilled, detail orientated medical biller also ensures that the insurance company’s errors are noticed and corrected as soon as you receive claim payment.
What do Billing Services do?
a. Lost Revenue / Late payments Most insurance carriers have a timely filing limit, which as an in-network provider you are required to submit a clean claim within the specified time range. If your biller is unaware of these time limits, it could be costing your practice and resulting in lost revenue.
