Jho Outlaw, senior vice president of revenue cycle services for ASC software company Surgical Information Systems and Jessica Nelson, director of revenue cycle services for SIS shared their insights on how to effectively collect payment after a patient's surgery.
Three tips:
1. Collect physician and surgical fees before surgery. The risk of not getting paid afterward is too great, Ms. Outlaw and Ms. Nelson said.
2. Offer discounts for financial hardship. Offering a prompt-pay discount for payment at the time of service is recommended. It's often not legal to waive the patient's portion due, as it can negatively affect the payer. ASC staff should check state law and payer policies on discounting before offering discounts to patients.
3. Offer payment plans for copays. Basing payment plans on dollar amounts rather than coinsurance is the practice Ms. Outlaw and Ms. Nelson recommend. Payment plans should also be offered to all patients, including those on Medicare and commercial insurance.