How to Improve Patient Revenue: Collecting More Co-pays, Deductible and Co-Insurance


Format: On-Demand Webinar
Duration of the training: 60 Minutes
Location: Online Webinar
By: Stephanie Thomas, CPC, CANPC

Patient balances and account issues can hurt a medical practice. It is imperative that you have strong internal policies to protect your bottom line. It has been found that most medical practices have more uncollectible debt from patients in 2022 and leading into 2023 than ever before, don’t let that be you! Our speaker, Stephanie Thomas, CPC, CANPC, COSC will share strategies to avoid this downfall and boost your patient revenue. It has been found that patient surveys show they actually prefer to pay at the time of service and would prefer to have estimates of their responsibility prior to services. We will take a deep dive into all things patient account-related, from Good Faith Estimates relating to the No Surprises Act of 2022, eligibility and the importance of this function, payment plan agreements, to even collections on older balances. Be sure to join us in this highly informative webinar that will surely give you tips for improved processes, increased payments and happier staff and patients.

Learning Objectives:
  • Improve processes
  • Boost revenue
  • Decrease A/R days and %
  • Eligibility importance
  • Satisfaction and compliance with No Surprises Act
Areas Covered in the Session:
  • Patient Collections/Revenue Overview
    • Balances, where do they come from?
      • COB
      • Copays, deductible, co-insurance
      • Non-par issues
      • Denials
    • How to be firm and compliant, while still giving good care
      • Offer payment plans
      • Give estimates up front
      • Financial policies-clear and reviewed before signing
  • Explaining Insurance/claims To Patients
  • Include Patients In Process
    • Plan For Claim Submission
    • Expectation Of When Claim Will Process
    • Possible Issues (Where We May Need Patients Help)
  • Importance Of Checking Eligibility And Benefits
    • Referrals And Authorizations
    • High Deductibles
    • Large Patient Coinsurance Or Copays (Specialist Copays Of $75!)
    • Plan Your Clinic May Not Be On-prevent Non-par Denials (EPO Plans)
  • Tools and Resources
    • Availity
    • Navinet
    • Link (Optum)
    • PM software
  • Direct insurance websites
  • No Surprises Act
  • Good Faith Estimates
  • Patient Collection Workflow
  • Working Old Patient Accounts-example
  • Example of “Offer” Letter
  • Internal And External Collections
  • Why To Use An Outsourced Company
  • Example Of 60 Days Past Due Letter
  • Example Of 120 Past Due Letter
  • Example Of Final Notice
  • Payment Plans-things To Establish Before Offering
Suggested Attendees:
  • Billers/ Coders
  • Managers/ Directors
  • Providers/ Dr/ DO/ PA/ NP etc
  • Pre auth or eligibility staff
  • Front desk staff
  • In and Out of Network Providers
  • Medical Billing Companies
  • Providers Office Staff
  • Physician
  • Hospitals and Facilities
  • Insurance companies
  • Healthcare attorneys
  • Executive and Administrators
Presenter Biography:

Stephanie has worked in the medical, billing and coding industry for over 20 years. It is truly her passion. Stephanie works closely with small and large private practices to audit and collaboratively improve their revenue stream. She prides herself in her dedication to her clients and has built a team of incredible billers and coders to support her mission of assisting practices and Physicians across the country with proper coding and aggressive billing practices while being compliant. Stephanie also has extensive knowledge in physician practice processes, front desk, back office, and clinical. This knowledge allows her to be an invaluable asset for all things clinical operations, revenue cycle, internal audit, risk management, and healthcare administration.