Uncollected patient balance is a big issue for most practices in the country. Some practices have as high as 20% of their revenue in uncollected patient payments year over year. The majority of the uncollected balances is due to high deductibles and co-insurances from the patient. The insurances have complex rules on how they pay each claim and because it is very difficult to accurately estimate the patient responsibility at the time of the visit.
“AcerHealth streamlines collecting the patient balances at the time of visit.”
- Accurately Estimate the patient’s responsibility due to deductible and co-insurances
- Eligibility and Benefits Verification done prior to the patient visit
- List the current co-pay that needs to be collected
- List the patient’s previous balance and related detailed statement
At an average, 20% of the practice revenue is directly from the patients. 30 to 40% of the patients do not pay, which translates to around 8% of the practice revenue. Practices using AcerHealth have cut down their mailing patient statement charges by 50% as they collect patient balances upfront.
A busy Dermatology practice with 4 providers was looking for ways to streamline its insurance verification process and increase its upfront patient balance collection. They realized immediate results, where their front office collections increased as much as 240%.
The practice manager says “AcerHealth is now an integral part of our practice. Our front office collections have increased significantly. With the complex insurance reimbursements rules, I am quite pleased with AcerHealth medical bills ability to accurately estimate the patient’s balance at the time of visit. The patient statements from AcerHealth are not only easy to read but simple too. All the information including past patient balances, statements, deductible, coinsurance, and co-pays are in one single screen. Our staff spends less than 30 seconds to check out a patient through AcerHealth. We are saving the significant amount of time as AcerHealth also provides the eligibility and verification of the patient’s insurance. Our patient statement charges have also gone down by almost 30% since we started using AcerHealth Medical Billing services. I am quite pleased with AcerHealth”.
AcerHealth being one of the best Medical Billing Outsourcing Company can provide you many benefits and reduce your collection headaches.
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