Deductibles are High and Cash is Short! A Deep Dive of How to Design AR Policies with Awareness AND Get the Bill Paid! | Propel Your Revenue…And Team in 2027! [Session 1]-Executive Summary

Executive Summary

Pdf Summary

High deductibles shift more financial responsibility to patients, making front-desk collections increasingly important. Collections improve when practices use clear policies, support staff, protect payments with internal controls, and provide a positive patient experience.<br /><br />Maintain one up-to-date financial policy covering payment deadlines, accepted methods, payment plans, and hardship options. Prompt-pay discounts must be disclosed during billing, remain reasonable, avoid Medicare and Medicaid patients, and never reduce charges below payer-contract rates.<br /><br />Equip front-desk staff with collection and denial data, patient-friendly payment tools, and support from physicians. Discuss prior balances privately before appointments. Physicians should direct payment concerns to management and review collection data, while retaining approval before accounts are sent to collections.<br /><br />Use a consistent collections timeline: after three reminders, send a notice at 45 days and refer unpaid accounts at 60 days. Discuss payment plans privately and collect an initial amount, however small. Verify balances against the first EOB before charging a card on file.<br /><br />Safeguard incoming funds by separating duties, balancing and securing cash, setting approval rules for write-offs, and reconciling practice-management records with the general ledger monthly.<br /><br />Finally, improve the patient experience: apologize for delays, explain billing and global periods, schedule follow-ups appropriately, and use brief surveys to identify opportunities for improvement.

Keywords

high deductibles

patient collections

financial policy

prompt-pay discounts

front-desk staff

payment plans

collections timeline

cash controls

patient experience

billing reconciliation