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9 Tips to Improve Patient Collections
Maintaining practice revenues is increasingly tough in the era of high-deductible health plans. Here are nine tips to improve patient collections.
In the current landscape of high deductible health plans (HDHP) as well as under- and uninsured patients, the timely collection of patient balances is a significant challenge for practices struggling to maintain revenues.According to a 2015 Kaiser Family Foundation report, 24 percent of employees are enrolled in a HDHP, up from just 4 percent in 2006. Nearly half of all employees enrolled in an employer-sponsored plan have an annual deductible of at least $1,000, representing a 360 percent increase over 2006 costs. Add in the potential uptick in out-of-pocket expenses for patients who are enrolled in Health Insurance Marketplace plans, and a lot of money is hanging in the balance if you don't learn to collect more effectively.Here are nine tips to improve patient collections in your practice. Â Â Â Steph Weber is a freelance writer hailing from the Midwest. She writes about healthcare and small business, but finds her passion for the medical field growing in sync with the ever-changing healthcare laws.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
