Workshop Attendees Share Best Practices to Increase Patient Collections
Leverage technology and implement time-saving protocols
After your employees, an orthopaedic surgery practice’s two most valuable resources are time and money. In the United States, nearly 40 percent of insured adults are on a high-deductible health plan (HDHP). As a result, an increasing percentage of receivable (A/R) balances are the patient’s responsibility. When improperly managed, these balances are difficult to collect and consume large amounts of the billing staff’s time.
A survey of AAOS/KarenZupko & Associates, Inc. (KZA) workshop attendees illustrates what successful practices are doing to leverage technology, implement time-saving protocols, and proactively collect patient balances.
Promote the online patient portal for pre-registration
The key to collecting for services starts with capturing complete and accurate demographic and insurance information. The practice uses this information to verify eligibility, retrieve benefit information, and estimate the patient’s responsibility for the upcoming appointment. Half of the survey respondents offer their patients an online portal so they can pre-register for an appointment.
In the absence of an online patient portal, practices can collect the necessary information during a phone call prior to the patient’s appointment.