Collecting from patients who pay out of pocket can cost ASCs three times as much as collecting from those with commercial insurance, according to Mnet News.
Four strategies for collecting from self-pay patients:
1. Make it easy for patients to manage their bills and pay for elective procedures in advance.
2. Partner with a revenue cycle management company that offers financial counseling and automatic enrollment in payment plans.
3. Leverage automation to collect past-due medical debts, minimize human error, increase productivity, cut costs and improve efficiency.
4. Pinpoint trends in patients' payment behaviors to personalize the process.