{"id":209,"date":"2021-07-26T08:12:22","date_gmt":"2021-07-26T08:12:22","guid":{"rendered":"https:\/\/atlanticrcm.com\/blog\/?p=209"},"modified":"2021-07-26T08:12:22","modified_gmt":"2021-07-26T08:12:22","slug":"how-to-increase-patient-collection-in-medical-practice","status":"publish","type":"post","link":"https:\/\/atlanticrcm.com\/blog\/how-to-increase-patient-collection-in-medical-practice\/","title":{"rendered":"How to Increase Patient Collection in Medical Practice"},"content":{"rendered":"<p>Patient collection involves collecting the remaining financial patient responsibility including co-pays, co-insurance, and non-covered charges.<\/p>\n<p>Over the past decade changes in <a href=\"https:\/\/atlanticrcm.com\/revenue-cycle-management.php\">US healthcare<\/a> have led to higher patient responsibility. An ardent patient collection process helps keep the received cash flow in line with timeline projections.<\/p>\n<p>Patient collection is not always smooth sailing. <a href=\"https:\/\/atlanticrcm.com\/blog\/3-best-practices-to-maximize-your-out-of-network-collection-revenues\/\">Delays in payments<\/a> can adversely affect the collections. Listed below are a few of the common reasons for collection delays:<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">In this Article<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/atlanticrcm.com\/blog\/how-to-increase-patient-collection-in-medical-practice\/#4_Reasons_for_Patient_Collection_Delays\" title=\"4 Reasons for Patient Collection Delays:\">4 Reasons for Patient Collection Delays:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/atlanticrcm.com\/blog\/how-to-increase-patient-collection-in-medical-practice\/#5_Ways_to_Improve_Patient_Collections_in_Medical_Practice\" title=\"5 Ways to Improve Patient Collections in Medical Practice:\">5 Ways to Improve Patient Collections in Medical Practice:<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"4_Reasons_for_Patient_Collection_Delays\"><\/span>4 Reasons for Patient Collection Delays:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Eligibility and Benefits Determination Mistake: <\/strong>\u00a0Studies suggest that more than 25% of the patient collection remains uncollected due to failure to determine the eligibility and benefit determination upfront. A major emphasis should be placed on obtaining the complete and accurate benefits and <a href=\"https:\/\/atlanticrcm.com\/insurance-eligibility-verification.php\">eligibility of the patients<\/a> (co-pay, Co Ins, Ded) at the beginning of the treatment to place a lesser burden on the collection process.<\/li>\n<li><strong>Untrained Staff<\/strong> \u2013 Patients Collection is a backbone for every <a href=\"https:\/\/atlanticrcm.com\/revenue-cycle-management.php\">RCM<\/a> and it involves a lot of people. A highly trained staff is mandatory to eliminate frontend errors and make the whole billing process efficient. The staff should be adequately trained to determine if the services that are going to be rendered will be covered by the patients\u2019 insurance companies. The staff should be diligent in collecting the eligibility information upfront to avoid payment delays later.<\/li>\n<li><strong>Lack of an effective financial policy &#8211;\u00a0 <\/strong>A solid and fixed financial policy does not exist when it comes to self-pay. Comprehending the policy can also lead to challenges and revenue leakages.<\/li>\n<li><strong>Poor Monitoring of the claims process &#8211;\u00a0<\/strong>Monitoring each claim through the processes can be tedious and time-consuming. <a href=\"https:\/\/atlanticrcm.com\/medical-billing-coding.php\">Professional medical billing services<\/a> firms understand the stages involved in monitoring the claims submitted for processing. They leverage a set process that can help with faster payment collection when you choose to work with them.<\/li>\n<\/ol>\n<div id=\"attachment_210\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-210\" class=\"size-large wp-image-210\" src=\"https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-1024x576.jpg\" alt=\"5 Ways to Improve Patient Collections in Medical Practice\" width=\"1024\" height=\"576\" srcset=\"https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-1024x576.jpg 1024w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-300x169.jpg 300w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-768x432.jpg 768w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-260x146.jpg 260w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-50x28.jpg 50w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection-133x75.jpg 133w, https:\/\/atlanticrcm.com\/blog\/wp-content\/uploads\/2021\/07\/patient-collection.jpg 1067w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-210\" class=\"wp-caption-text\">5 Ways to Improve Patient Collections in Medical Practice<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"5_Ways_to_Improve_Patient_Collections_in_Medical_Practice\"><\/span>5 Ways to Improve Patient Collections in Medical Practice:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<ol>\n<li><strong> Collect and confirm accurate patient information &#8211; <\/strong>Collecting patient information and insurance coverage is vital in the overall revenue cycle. This practice should include every patient call as an opportunity to verify and complete patient demographics, insurance coverage, and billing information. The step can help submit more accurate claims and collect payment faster.<\/li>\n<li><strong> Monitor past due balances &#8211; <\/strong>Discuss balances every time a patient call. If your medical practice system doesn\u2019t reflect on the balances then consider upgrading the billing platform.<\/li>\n<li><strong> Improve patient statement information and messages &#8211; <\/strong>\u00a0It\u2019s already hard enough to deal with a health situation, and receiving a complex billing statement can add to the stress. Statements must be easy to interpret and offer clear instructions. Simple to understand bills can get paid for faster.<\/li>\n<li><strong> Implement flexible payment options &#8211; <\/strong>\u00a0Every office should accept new options of payment like credit cards, electronic bills, and virtual terminals with a consideration of a card-on-file protocol. Ensure that the payment services are working for you and not against you. Give your patients all possible payment options.<\/li>\n<li><strong> Patient Cost estimation &#8211; <\/strong>Accurate, timely cost estimation leads to a better patient experience. Correct estimates allow you to secure compensation for your work in advance with minimal collection efforts. A patient cost estimation not only offers patients better transparency but also helps clinics and hospitals get paid much faster.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Patient collection involves collecting the remaining financial patient responsibility including co-pays, co-insurance, and non-covered charges. Over the past decade changes in US healthcare have led to<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Increase Patient Collection in Medical Practice - Atlantic RCM<\/title>\n<meta name=\"description\" content=\"Patient collection is not always smooth sailing. Delays can adversely affect the collections. 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