Explain the benefits to the revenue cycle if the copayments and patient balances are collected at the time of the encounter. Include the steps that are required if the patient has to be billed.
What will be an ideal response?
There would be a large increase in income into the office if all monies were collected at the time of service. Patients tend to forget later; do not have stamps; or wait until they have additional bills to pay if they are busy.
Billing patients is costly and includes the following steps:
Print bill, check bill for any previous payments; write notes if payment is delinquent; if payment is over 60 days, demand payment; if payment is over 90
days send collection letter to patient. If payment is still not received, then patient information is forwarded to the collection personnel or outside agency.
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