At the beginning of every year, health plan deductibles reset and patients are required to meet their out-of-pocket limit for healthcare services before their insurance benefits begin. With high deductible health plans expected to increase by 8% to $6,480 for a family plan in 2016 (HealthPocket.com), it is crucial that providers understand how to maximize the collection of patient payment responsibility.
This month, we outline three best practices to help providers of all sizes make 2016 the year of collecting more
The rise of consumerism in healthcare is driving providers to evaluate their tactics to collect healthcare payments. While providers previously relied almost exclusively on payer payments for their revenue, patient responsibility is increasing as a portion of provider revenue. In order to collect more from patients and reduce administrative costs, providers need to offer more convenient, consumer-friendly payment options, such as online patient payments.
According to the 2011 Trends in Healthcare Payments Annual Report, online patient payments have tripled since 2009.