Increasing Patient Payment Collections in 5 Steps

1. Increasing Patient Payment Collections in 5 Steps Medical Billers and Coders

2. Most of the practice owners work really hard to understand payer billing and coding guidelines and reimbursement policies. Their intention is to receive accurate insurance reimbursements on time from private as well as government payers. But while making such strategies they miss on the prominent payer i.e., their patients. You will be surprised to know that the patient’s payments account for a significant percentage of practice revenue almost 35 percent in 2016. As per the InstaMed survey report, in 2019, the patients had experienced a 162 percent increase in deductible burden over the past decade. These survey stats tell us that patients are financially responsible for a higher portion of their medical care than ever before. But since patients aren’t granted the same considerations as every other payer, providers can miss out on a huge potential revenue stream. In this blog, we shared 5 steps that will help you in increasing your patient payment collections. It will help you streamline your operational efforts in order to capture complete reimbursement and achieve patient-payment success.

3. Increasing Patient Payment Collections in 5 Steps • Step 1: Identify Patients as Payers • Step 2: Identify Out-of-Pocket Costs • Step 3: Creating Patient Payment Collections Policies • Step 4: Review Your KPIs • Step 5: Provide Online Payment Solutions

4. Email : info@medicalbillersandcoders.com Fax no: 888-316-4566 Toll Free no: 888-357-3226 AddressWilmington, 108 West, 13th street, Wilmington, DE 19801Texas, 539 W. Commerce St #1482 Dallas, TX 75208