decisionhealth Newsletters, Part B News - 2011 Issue 8 (August)
6 tactics to collect from privately insured patients facing higher premiums
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Article Overview
This article covers practical revenue-cycle advice for medical practices dealing with higher patient cost-sharing under private insurance plans. It focuses on collection workflow, patient communication, payment plans, payer mix, uncollected balances, and ways to monitor collection performance. The piece is aimed at practice managers, front desk staff, and revenue-cycle personnel who want to reduce missed patient payments without relying on claim coding guidance.
Why This Topic Matters
Higher deductibles and copays can create cash-flow problems for practices if patient collections are inconsistent. Understanding common collection tactics helps practices identify revenue leakage and improve front-end and follow-up payment processes.
Article Sections
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Private payer cost-sharing pressures
Introduces the article’s focus on higher patient financial responsibility and the resulting impact on practice revenue. Sets up the collection challenges discussed later in the piece.
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Turn every point of contact into a collection opportunity
Discusses communication touchpoints and front-desk handling of balances, missed payments, and upcoming patient responsibilities. Covers general workflow ideas for collecting at or before the time of service.
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Push payment plans when patients forget their wallet
Covers the use of payment plans and account follow-up for patients who cannot pay in full at the visit. Addresses broader policies for managing overdue balances and credit extension.
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Know your patient and payer mixes
Explains how payer mix influences collection performance and overall exposure to uncollected patient responsibility. References differences among broad payer categories and their effect on practice revenue.
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Go after uncollected deductibles
Focuses on the revenue risk created by remaining patient responsibility on services with higher out-of-pocket exposure. Compares general service categories and how they affect collections pressure.
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Track your losses
Describes using practice data to monitor collection performance and identify revenue leakage. Emphasizes reporting, comparison of appointment and cash information, and reviewing overall write-off patterns.
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Split overdue balance payments between visits
Covers a payment-splitting approach for patients who cannot cover their remaining balance at once. Presents the general concept of spreading payments across visits to help collections.
What You Will Learn
- How rising patient cost-sharing affects practice collections
- Ways to build collections into everyday patient interactions
- How payment plans can support recovery of overdue balances
- Why payer mix matters when assessing collection risk
- How to monitor patient collections and track revenue leakage
- Approaches to handling patients who cannot pay their balance in full
Who Should Read This
- Practice managers
- Front desk staff
- Business office personnel
- Revenue cycle staff
- Physician practice administrators
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