Patient Collections

Patient Collections

Patient Collections are one of the critical parts of medical billing. Some of the key aspects of it are as follows :

  • Staying updated on Payor Policies: Billing companies and office management must stay updatedt on payor requirements for collecting patient balances. Most insurance companies put forth a set of requirements for collecting on patient deductibles, co-pays, and co-insurances.
  • Patient Responsibility Policies: It is crucial for a practice to have a set and firm patient responsibility policy in place. A patient responsibility policy may include how and when the patient will be billed, as well as expected payment timeframes.
  • Multiple Means of Collection: By providing multiples means of collections, providers are giving patients more opportunities to pay balances in full and on-time. Consider accepting a wide-range of credit card carriers (e.g. Visa, MasterCard, American Express).
  • Quick Payment Posting and Statement Cycles: Our billing company strives to post patient payments quickly upon receipt. This helps to clear out balances and eliminates aging patient debts and the potential for duplicate payment. We send statements out weekly and ensure that patient addresses are current to help avoid returned statements, and thus, unpaid balances. While preparing the medical bill for the patient, Biller collects all the required information including patient demographics, clinical services provided insurance details; compiles them and send it to the payer for the payment reimbursements. Certain part of this bill is paid by the Patient and rest is paid by Insurance provider. Biller intimates the same and follows up for the collections. Mailing out timely, accurate medical bills plays an important part in this process. Once the bill is paid in full, it is stored with the patient’s file.