Let’s face it: patients are frustrated with confusing and inconvenient healthcare payments experiences. They can become even more frustrated at the start of a new year when deductibles reset. Patients may not fully understand deductible resets, their healthcare plan’s policies or healthcare vernacular in general. When patients are confused, they are less likely to pay, which can lead to bad debt and uncollected balances. Providers can evaluate their billing and payments processes and consider implementing changes that will improve the
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