As out of pocket costs increase and deductibles rise, healthcare organizations of all sizes and specialties are seeing an increase in high-balance accounts. Without much assistance from insurance patients are looking for new and better payment options. Payment plans can be a valuable option for both the patient and the provider when administered properly. So why aren’t they working for you?
When attempting to collect from patients it is easy to make simple mistakes that could cost your practice money. Financial conversations can be stressful, and in order to make it as comfortable for the patient as possible representatives may be too accommodating and make arrangements that do not benefit the practice in order to maintain the patient relationship.