Practice Management Alert
Consider Collecting Up Front to Combat Increasing Deductibles
Time-of-service collections make your job easier and increase collection rates The number of high-deductible plans coming through your practice is increasing, which may mean larger outstanding patient balances. One solution is to change your front desk collections process so that you are collecting at least a portion of the patient's deductible at the time of service. "We do that at our facility now and it works out great, but we try to obtain the entire deductible if we can," says Charlene Travis, CPC, biller and patient account representative at Chesapeake Surgery Center in Salisbury, Md. "We have had a lot of success with this and it makes our job in the billing and collections area a lot easier in the long run." Tip: Even if the patient has met her deductible, collecting the patient's copayment up front at the time of service is still a good idea. "We collect the deductible at the time of service. If it is met, we collect 20 percent or their copay," explains Stephanie Speer, biller with Urgent Care at Lake Lucille in Wasilla, Alaska. "We also have billing make notations, or -alerts,- in the system to tell the front desk how much is due." Caveats: Check your contracts with your payers before you start collecting deductibles up front. Some payers don't allow this practice. Also, be sure you are not pre-coding the visit to collect the deductible. In other words, don't assume a patient is coming in for a level-four E/M service before she's even in the office just so you can determine the amount you should collect upfront. If the fee the patient has to pay will be based on the service and not a set amount, consider collecting a deposit fee and then collecting the rest at the end of the visit. Verify the Deductible Before the Patient Comes to the Office Verification is not just necessary, it is imperative, or collecting deductibles will become more of a headache for your office than a help. Here are four tips for verifying insurance deductibles: 1. Write a plan for your staff. Offer a step-by-step procedure or a standard verification form for the staff person(s) who will verify patient deductibles. A uniform and thought-out guide will help alleviate problems with verifying deductible information. 2. Hire experienced employees (or adequately train new ones). A major issue for many offices is that they hire people who have never verified deductibles. 3. Check deductible information before patients come in. When a patient calls to schedule an appointment, first ask how she plans to pay for the visit. If the patient has insurance, request the name of her primary insurance carrier, the policy number and the name of the policy holder. Next, contact the insurance company to verify the deductible. In her practice, Travis says the staff gets a current unpaid deductible amount when they perform benefits verification. "We don't have too many issues, with the exception of occasionally doing a refund because something got processed after we called the insurance company," Travis explains. Use an online benefits verification service that provides the copayment, up-to-date deductible totals and other benefits information. 4. Educate your patients. You need to have a set financial policy that you share with all your patients, and your deductible collection process should be part of that policy. You should give each new patient a copy of your financial policy for her records and keep a copy signed by the patient in her medical chart. Stay tuned: Watch for a sample form you can use to capture all the benefits information you need during the verification process in next month's issue of Medical Office Billing & Collections Alert.
Practice Management Alert
- Easily Evaluate Your Billing Procedures With Internal Audits
Tip: Begin with a baseline audit and then make changes before outside auditors come knocking [...] - You Be the Billing Expert:
Does the 72/24 Rule Apply to Your Billing?
Question: I bill for a multi-specialty group that also has an urgent care facility. Our [...] - News You Can Use:
Kiss the 10.6 Percent Pay Cut Goodbye, Finally
Congress ensures you-ll avoid a Medicare pay cut for 18 months You can breathe easier [...] - Correction:
Check Your State's Regulations Before Billing WC Claims
An established patient may not actually always be a new patient When you-re billing a [...] - Recipe for Billing Success:
Consider Collecting Up Front to Combat Increasing Deductibles
Time-of-service collections make your job easier and increase collection rates The number of high-deductible plans [...] - Clip and Save:
Decrease Your Outstanding Claim Percentage With a Set Follow-Up Policy
Let this proven sample policy guide your efforts Every office has them -- outstanding claims [...] - Payer Updates:
Aetna Takes the Top Spot In PayerView Rankings
Plus, WellPoint settles with California hospitals, to the tune of $11.8 million At the end [...] - Reader Questions:
Notifying the Payer Isn't Likely to Help Collections
Question: When we send a patient to collections because she hasn't paid her deductible or [...] - Reader Questions:
Check With Facility Before Choosing POS
Question: I-m new to billing for a physician who visits patients in nursing facilities. What [...]
