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]-Job Aid

Job Aid

Pdf Summary

The webinar recommends a clear, consistent financial policy that staff understand and patients can navigate. Retire outdated policies; specify due dates, payment methods, payment plans, and hardship support. Ensure prompt-pay discounts comply with OIG rules: do not offer them to Medicare or Medicaid patients or discount below a payer’s contracted rate.<br /><br />Support front-desk staff by understanding the challenges of collecting from patients in pain, sharing collection and denial reports, setting friendly goals, and testing staff ideas for 30 days. Make payment easier by discussing prior balances at least two weeks before visits—not in the lobby—and offering portal, text, and email options. Estimates should include diagnosis and specific CPT codes.<br /><br />Involve physicians by directing payment questions to management, sharing individual productivity and collection reports, and obtaining approval before sending accounts to collections. Use a defined collections timeline: send a past-due letter at 45 days with 15 days’ notice, then refer the account at 60 days. Discuss payment agreements privately, collect an initial payment, and verify the EOB balance before charging a card on file.<br /><br />Protect revenue with internal controls that separate cash handling, posting, billing, and adjustments. Require approval thresholds and adjustment codes for write-offs, and compare general-ledger income with practice-management-system reports monthly.<br /><br />Finally, keep the patient experience central: review the office from a patient’s perspective, explain global periods and schedule follow-ups accordingly, and handle upset patients privately by listening first and pausing before responding.

Keywords

financial policy

patient collections

payment plans

hardship support

prompt-pay discounts

front-desk staff

collection reports

payment estimates

collections timeline

internal controls