With the introduction and increased popularity of high deductible plans, there is more pressure than ever on the patient to pay their share. The average deductible for a high deductible plan is more than $5700, making out of pocket costs significant! How are your patients going to pay for deductibles, copays and items that are not covered by insurance? And how will those increasing payments impact your business?
The chart below illustrates how Patient Pay Balances nearly doubled from 2010 to 2015 and how they will nearly double again from 2015 to 2020.
Quality DME was writing off a lot of patient A/R because they did not have complete Patient Pay Billing and Collection system. Their staff was responsible for printing and mailing statements but did not have time to make collection calls. So, they used the outside collection company. Without an integration with their collection company, it was challenging to track the payments the collection company received.
Quality DME Boosts Collections through Integration
CareLinc improved intake process significantly reduces Patient Pay A/R
Upstate HomeCare’s Automation or Patient A/T Yields 80%
Gundersen Palmer’s Recovery Performance Exceeds 90%
Keene Medical Products
We are now attending events in person. Please join us at the following events:
