It's a common myth that collecting for procedures before they're completed isn't feasible, according to Regent RCM.
Regent RCM debunked the myth with four insights:
1. Most patients expect to make a payment, and more than 90 percent want to know their financial responsibility before a provider visit or procedure.
2. Financial counseling helps patients understand how much they'll owe and budget for the expense.
3. After taking a proactive approach to patient financial counseling, Newark, Del.-based Glasgow Medical Center saw an increase in patient responsibility for deductibles and copays.
4. GMC also increased upfront money collected and minimized bad debt.