The key to running a successful practice is to handle it like the business it is. Physician offices should know that patient co-pays, deductibles, and co-insurances are income sources for the business. Profit should not be treated like a dirty word, but as something enables a physician to keep his or her doors open. Co-pays are a big part of a practice’s revenue—don’t let them just walk away.
If you have any questions about co-pays, contact Melesia Tillman, CCP, CPC, at (404) 633-3777, ext. 820 or [email protected].
Create a Policy on Fee Collection
Failing to collect co-pays, deductibles, and co-insurance can greatly reduce the ability for a rheumatology practice to survive. Having and enforcing an office policy on this can be a great start in running a successful practice. Here are some tips on how to organize and implement the collection of fees from patients:
- Introduce your new policy as a standard business practice—not a suggestion;
- Determine which staff member will be in charge of collecting co-pays and deductibles and train him or her to collect these charges before services are rendered;
- Place signs in prominent areas of the office to notify patients that co-pays and deductibles will be collected prior to all services;
- Mail (and provide at the front desk) copies of the new policy for all patients to review; and
- Remind patients when they call to schedule an appointment that co-pays and deductibles are due prior to service.
