Collecting Patient Balances

Collecting patient balances at the time of service is a key step in your revenue cycle. If your office does not currently have policies and procedures in place for collecting from your patient at the time of the visit, it can be a challenge to implement. Some patients may push back with phrases like “I have never had to pay up front before!” or “Your office always sends me a bill!” However, consistency while implementing new payment policies for your patients will help. Patients will conform to your new policies, and most will comply.

Below are some helpful hints for collecting patient balances at the time of service.

·      Have solid financial policies in place and stick to them! Even if that means rescheduling a patient who is scheduled for a routine follow up or non-acute illness for non-payment.

·      Be prepared to require patients who have previously defaulted on a payment plan or been sent to a third-party collection agency to pay the expected balance in full at the time of service.

·      Run eligibility on EVERY patient at EVERY visit. This is especially important if the patient will receive any treatment or undergo a procedure at the visit.

·      Have an up-to-date fee schedule for your top 10-15 payers with your most-billed codes available for your front desk so they can collect accurate coinsurance and deductible amounts at the time of service.

·      Train your front office staff on how to collect copays from the patients at check-in (if you are not already doing this). Your check-out staff should be responsible for collecting from patients with a coinsurance and/or deductible.

·      As a courtesy to your patients, consider having a dedicated staff member to call patients prior to their appointments who will owe more than $100 (or any amount you determine) at the time of service, or who have an outstanding balance you will attempt to collect at the visit. This allows patients who may not be able to pay at the time of the appointment to avoid the embarrassment of having to reschedule due to a payment issue in front of a lobby full of people.

·      Track your staff’s collection rates through reports in your Practice Management system and reward their hard work. Use those employees as a training tool for other employees who may struggle collecting from patients at the time of service.

·      Be patient with your patients. Answer all their financial questions as best you can. Financial transparency is very important when patients have so many options for services in their community.

·      Allow for hardships. Include a process in your financial policies for patients to apply for hardship exceptions.