High deductible health insurance has been an increasingly important topic in the revenue cycle space for the past few years. Your patients likely come in with new insurance plans each year. And those plans likely have higher deductibles each time. In this week's Tactical Tuesday we look at the best practices for preventing past due patient balances due to high deductible health plans.
The payment cycle starts from the beginning of the patient's visit and lasts well beyond. So it is imperative that there is ample training that emphasizes each stage. To start, training your staff on how to have that important financial conversation upfront is key.
We will cover three solutions that can help you better collect from high deductible patients.
1. Front End Staff Training
2. Dedicated Staff Training
3. Staff Restructure
The ability to have an important financial conversation with your patientsshould be a required skill of your staff. When looking for a revenue cycle leader, patient communication skills must be a priority. There are several tools that your practice can offer its' staff to help them do their jobs better. These could include things like patient scripts, card on file payment technology, patient payment estimators, and ongoing training sessions. Staying current on revenue cycle tools will help your practice collect more, for less.
Watch this week's Tactical Tuesday video to learn a few tips and ideas that you might apply to your own practice to boost the patient payment cycle.