Tips for Collecting Fees At Time Of Service

How do you and your staff do when it comes to getting paid directly from your clients and patients? If you are like many offices, you and your staff are likely a bit shy about asking for money. However, it's essential that you collect money that is owed to you. Indeed, you likely have an obligation to do so according to your insurance contracts.
If your accounts receivable is up and you are having trouble collecting after the fact, consider making an effort to increase collection of fees at the time of service. Here are some tips to help you do just that.

1. Have a sign at the front desk noting that co-pays are due at the time of service. This one thing made a huge difference in my office when we first opened.
2. Many people today do not carry a check book or cash, but they have plenty of plastic. Make sure you can accept credit and debit cards. If you need a merchant account, search for a clinician friendly merchant account vendor on the internet. Another option if your volume is low is to get a Pay Pal Business Account.
3. Does your staff ASK for the copay or other outstanding balances? Do they know how to ask? If not some training is in order.
4. For those patients that want to pay in cash, it helps to have enough change on hand to handle a $50 or $100 bill.
5. Make sure your patient financial responsibilities policy clearly states that co-pays are due at the time of service (as well as bringing account up to date). Patients should sign it when they first come to your office. It's a good idea they keep a copy for their records.
6. Consider having a program or plan available for patients who cannot pay in full at the time of their visit. Be sure to have them read and acknowledge the terms of the plan you have for payments.
7. Many people are used to paying bills online these days. Is this option available in your practice? If not, consider finding out what steps you need to take to begin to offer this convenient service. Once an account goes into collections, it is often extremely difficult to collect the debt that you are owed. It is far easier to ask for your fees and co-pays at the time of service than to have to send your client accounts into collections.