5 Tips for Improving Patient Collections in 2021 | TotalMD
Summary
Additionally, educating your front office staff on collections measures will address a large part of this issue. It will also help the consumer if they know prior to coming into the office their co-pay and deductible amounts so that they are prepared to make that payment when it is mentioned by the front desk staff. As consumers rely more on websites and phone apps to pay their bills, medical needs to take advantage of these types of payment methods. (2020 Medical Billing Statistics, 2019) In another article in Becker’s Hospital CFO Report in 2016, data was compiled from on-line surveys representing in excess of 100,000 healthcare providers, more than 3,000 and more than 2,575. Here are the study findings: • CMS estimates that by 2024 close to $1 of every $5 will be spent on healthcare in the U.S. • Nine out of ten consumers would like to know their part of the costs upfront.
