7 dos and don'ts of patient collections
Is your ASC struggling with patient collections? If so, you're not alone. As patient financial responsibility has increased over the past several years, with the rise of deductibles and co-pays, so has the challenge of collecting what a patient owes for treatment.
While all healthcare providers should be focused on ensuring they are paid for services rendered, this is particularly important for ASCs. The ASC industry has experienced tightening reimbursement and increasing costs (e.g., staff, equipment), resulting in leaner margins. What patients owe for their portion of surgical care could be the difference between whether a procedure makes or loses an ASC money. Even collecting a portion of a patient's financial responsibility can turn a little profit into a loss for procedures with lower reimbursement.
To improve your likelihood of collections success in a manner that reduces the potential to harm patient satisfaction, follow these seven dos and don'ts.