If you just started your own physician's practice, chances are you have several customers lined up to tend to each day. Often patients will not pay for services they are provided on the same day they are at your establishment. This gives them time to have their insurance company look over the pricing for procedures done in an attempt to reduce the amount they owe themselves. In some instances, bills you send to your clients will go unpaid. Here are some tips you can utilize to entice customers to come forward with the money you are owed for services you had conducted.
Send Monthly Reminders With Warnings
It is important to remind patients of money they owe each month as they may forget about it within time if you do not send notices often. Other patients may think that you had forgotten and will spend their money elsewhere if they believe there will be no bills coming in the mail. When each patient leaves your practice, it is important to provide them with a detailed list of the services you had provided with the pricing you charge for each one. Alert them that this is the amount owed before insurance is taken into consideration and that they should be on the look out for an insurance statement in the mail with updated pricing.
As soon as an insurance company makes a payment on a bill, send out an updated bill to the patient informing them the insurance was received and they are responsible for the remainder of the bill. Give the patient a due date for payment and indicate there will be additional charges if payment is not received before this date. This is usually a successful way in obtaining payment as patients will not want to pay extra for services they had obtained.
Enlist Help From A Medical Billing Service
If you are inundated with customers in the office, you may not have the time to go after those owing you money. In this instance it would be best to hire a medical billing service, such as Premium Medical Billing Inc, to handle all billing for your practice so you do not let payments slide. A medical billing service would have employees trained in medical coding to help decipher insurance payouts in an attempt to bill customers the proper amounts owed. They would request payment in your behalf and would be available to answer any customer questions as well. This will free your practice up to handle customer affairs each day instead of having to track down money owed. The service would require a small payment on any money you do receive, making it a cost beneficial way to get paid from customers with outstanding debt without spending time and resources to hound clients yourself.
Give Incentives To Customers Who Pay On Time
Instead of reprimanding customers for not paying bills, offer incentives to those who do. This will likely increase the amount of money you obtain as people enjoy being rewarded for their patronage. Indicate that payment received before a certain date would be discounted. This will entice customers to make sure their payment gets to you on time as they will not need to pay full price. Another idea is to give clients coupons for a percentage off their next appointment if they pay their bill on time.