3 Impacts of High Deductible Plans on Your Revenue Cycle (and 5 Ways to Fix It)

A high deductible plan means the patient is paying more out of pocket expense for health care services. It is a health insurance plan with a high deductible and normally has a lower premium.  People pick high deductible plans because the out of pocket premiums are lower and fit into a tight budget more easily.  Employers like high deductible plans as a way to save money on health care coverage for employees.  However, high deductible plans can have an impact on health care facilities or on a hospital’s revenue cycle.  The impact is not always in a favorable manner.

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Topics: Healthcare Reform, healthcare receivable management, Revenue Cycle Management, Patient Deductibles, HSA

Boost Your Self-pay Collections Even if the Patient Doesn't Have Money

I’ve been asked the same question time and time again when I'm in the field talking about self-pay collections and bad debt - what question you ask? I'll get there. Collecting invoices from a stubborn or intentionally uncooperative patient for medical services can be enough of a problem, but when the patient seems to have “no money whatsoever” to pay the bill many hospitals and clinics immediately assume the case has to be written off as a loss. That's far from true, but unfortunately it seems like the only logical choice due to a lack of awareness (or wanting to keep the patient from filing a complaint!). In reality, there are a number of ways collections can be made if done in a smart, persistent fashion. There are some accounts that will take a while to get paid, but persistence does often pay off in the end (trust me, I KNOW persistence!) Finally, the question I get asked...

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Topics: Patient Pay, patient satisfaction, healthcare receivable management, Patient Deductibles

5 Ways to Collect Patient Deductibles in the New Year

The beginning of each year brings unmet deductibles for a large majority of the patients that you might treat. 

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Topics: Patient Deductibles, Patient Webpay