BC Advantage - 2021 Issue 3

Chasing Patient Payments: Learn How to Reduce Your Costs

Patients today, struggling to afford expensive high deductible health plans, rising co-pays, and in-network fees, sure do miss the glory days of $10 co-pays and well covered, affordable health insurance.But no one misses those glory days more than physicians.As high deductible health plans proliferate, physicians now depend on patient payments for approximately 30 percent of their revenue stream. Income that used to be collected via payers is now collected by way of deductibles, co-pays, and self-pay patients. The problem is, collecting revenue from patients isn't nearly as easy or affordable as collecting from payers-and practices are paying...

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