Improving Time of Service Collections
Article by Richelle Cox, COO Arrowlytics
The landscape of healthcare is changing. Patients are faced with insurance plans that have high out-of-pocket deductibles and costly copay and co-insurance requirements. The days of relying on insurance companies to cover the majority of the costs associated with patient care are ending, and more of the expense responsibility is falling directly to the patient. Collecting the amount the patient owes at their visit, and collecting the patient’s responsibility prior to costly tests and procedures, is critical to keeping practice revenue stable and limiting your group’s days in AR.