Medical billing tips and tricks that will help anybody new to the field find a starting point with outstanding patient balances.
I have been asked many times by people who were essentially 'thrown' into the billing position at their office, 'Where do I start?' Some of the portion of outstanding A/R is what patients owe you.
You want to be sure that patient statements are sent on at least a monthly basis.
If you can get patient statements out twice a month, that would be even better.
You want to discuss with your physician(s) or office manager what kind of policies are in place or what kind of policies need to be put into place.
Things to ask while discussing policies are: How many statements will be allowed to go to a patient before additional action will be considered? How many letters will go out beyond sending statements, if any, before additional action will be considered? Will patient payment plans be accepted and if so, what is the minimum you will accept? At what point and time is an account considered for collections with an outside agency? Once you have some general policies and procedures in place it will be easier for you to go through accounts to decide what action should be taken next.
You will also want to be sure to review your state policy for collecting on accounts so you are aware of any laws that you must follow.
If there is already an outside collection agency in place they are usually willing to help you know what needs to be done to abide by any state laws as they are required to follow those laws also.
The best policy when collecting patient balances is to be as strict as possible in collecting co-payments up front at the time of service.
If a patient is aware of a high coinsurance or deductible amounts, ask for a $50.
00 to $100.
00 deposit at the time of the service.
Then any residual balance left after the insurance has paid you, won't seem quite as overwhelming to the patient on their next statement.
You need to be sure you have your policies posted in plain view for patients to see when they walk in and/or are being checked in.
You also want to have them sign an acknowledgement that they have read and understand your office collections policies.
It can be a form easily submitted into what they will already have to fill out and sign.
Please make sure that you are dividing your time appropriately when it comes to collecting on outstanding A/R.
You do not want to let yourself get behind on posting and submitting current charges.
I have found it easier for me to keep track of my time if I give myself a schedule.
I will give myself a specified amount of time per day to work on old accounts and the rest of the day to work on current accounts, or you can allot specific days to work on one kind of account or the other.
It's definitely a juggling act when trying to come into a medical practice that is new to you.
Just remember to set some goals to achieve and work on those goals to have the ability to cross things off your 'list' so you feel like you are continually accomplishing something.
Don't let yourself become discouraged easily, just remember tomorrow is a new day.
Good luck out there! Vicky Burton
I have been asked many times by people who were essentially 'thrown' into the billing position at their office, 'Where do I start?' Some of the portion of outstanding A/R is what patients owe you.
You want to be sure that patient statements are sent on at least a monthly basis.
If you can get patient statements out twice a month, that would be even better.
You want to discuss with your physician(s) or office manager what kind of policies are in place or what kind of policies need to be put into place.
Things to ask while discussing policies are: How many statements will be allowed to go to a patient before additional action will be considered? How many letters will go out beyond sending statements, if any, before additional action will be considered? Will patient payment plans be accepted and if so, what is the minimum you will accept? At what point and time is an account considered for collections with an outside agency? Once you have some general policies and procedures in place it will be easier for you to go through accounts to decide what action should be taken next.
You will also want to be sure to review your state policy for collecting on accounts so you are aware of any laws that you must follow.
If there is already an outside collection agency in place they are usually willing to help you know what needs to be done to abide by any state laws as they are required to follow those laws also.
The best policy when collecting patient balances is to be as strict as possible in collecting co-payments up front at the time of service.
If a patient is aware of a high coinsurance or deductible amounts, ask for a $50.
00 to $100.
00 deposit at the time of the service.
Then any residual balance left after the insurance has paid you, won't seem quite as overwhelming to the patient on their next statement.
You need to be sure you have your policies posted in plain view for patients to see when they walk in and/or are being checked in.
You also want to have them sign an acknowledgement that they have read and understand your office collections policies.
It can be a form easily submitted into what they will already have to fill out and sign.
Please make sure that you are dividing your time appropriately when it comes to collecting on outstanding A/R.
You do not want to let yourself get behind on posting and submitting current charges.
I have found it easier for me to keep track of my time if I give myself a schedule.
I will give myself a specified amount of time per day to work on old accounts and the rest of the day to work on current accounts, or you can allot specific days to work on one kind of account or the other.
It's definitely a juggling act when trying to come into a medical practice that is new to you.
Just remember to set some goals to achieve and work on those goals to have the ability to cross things off your 'list' so you feel like you are continually accomplishing something.
Don't let yourself become discouraged easily, just remember tomorrow is a new day.
Good luck out there! Vicky Burton
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