BC Advantage - 2017 Issue 1

7 Strategies for Better Patient Payment Practices

Collecting patient payments is not always the most fun part of the job. But, with more than 23 percent of total revenue in health practices coming from patient collections, according to the Medical Group Management Association (MGMA), few can deny that managing patient payments correctly is a significant priority for practices.More recent reports have indicated that high deductibles have played a major role in refocusing practice efforts with regard to out-of-pocket costs for patients. According to the Kaiser Family Foundation, average combined deductibles within the Marketplace for 2016 were $5,765 for bronze plans, up from $5,328...

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