9 Tips for Collecting from Patients
Experts provide nine tips to help practices successfully collect patient balances.
1. Educate patients about the cost of virtual services.
This includes having a conversation at the time of booking about how much each service will cost, says Denny Flint, chief commercial officer at Millennia, a tech-enabled patient engagement company specializing in the recovery of end-to-end patient financial obligation.
Although some payers may waive cost-sharing for virtual services during the pandemic, those waivers will likely expire at some point, making it critical for patients to understand their financial responsibilities. For example, patients may not understand why they need to pay for a telephone appointment or why a telehealth visit costs the same as an in-person one. Explain that these services require provider time and expertise, which is why payers consider them compensable.
Source: Lisa A. Eramo, MA, Keith A. Reynolds, Physicians Practice [4/3/24]
