Mr. Hamilton shared the following advice with Becker’s Hospital Review.
“Collecting copays in person or even during pre-eligibility verification checks is important. But in addition to copays, it’s also possible to bill for estimated charges related to coinsurance, and provide insight into progress toward meeting deductibles. Intelligent patient estimation applications can predict a patient’s total financial responsibility based on insurance coverage, plan design, type of encounter and procedure information. Financially-informed patients are more likely to be satisfied patients.”
Read more about healthcare collections and patient financial responsibility here.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the “RCM tip of the day” series.
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