decisionhealth Newsletters, Part B News - 2014 Issue 2 (February)
6 proven collections strategies to obtain payments, improve cash flow
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Article Overview
This article compiles practical collections guidance for physician practices focused on improving cash flow and reducing patient payment delays. It covers communication around payment policies, advance verification of patient responsibility, payment plan setup, internal documentation of balances due, and alternative patient payment channels. The content is aimed at front-office and revenue cycle staff, practice managers, and billing professionals seeking broad collections process improvements.
Why This Topic Matters
Patient collections are a key part of revenue cycle performance, especially for practices trying to reduce outstanding balances and improve predictability of cash flow. The article is relevant to staff responsible for patient financial communication, eligibility checks, payment arrangements, and payment follow-up processes.
What You Will Learn
- How practices can communicate payment expectations to patients in advance
- Ways to verify patient financial responsibility before or at the time of service
- General considerations for offering payment plans and documenting unpaid balances
- Options for accepting patient payments outside the traditional office checkout process
Who Should Read This
- Practice managers
- Front desk staff
- Billing and collections staff
- Revenue cycle personnel
- Physician office administrators
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