Medical Billing is not just about Revenue Cycle Management. It is also about Patient Management. If you don’t educate your patients, then you are leaving money on the table and losing patients.
Case in point:
One of our clients has had a long-standing happy patient. However, this year, Medex, the “gold standard” in supplementary coverage, changed his benefits and now he is paying more than before.
The patient called our billing office inquiring why his insurances no longer paid for everything. Although he really liked the doctor, he blamed him for charging more for his services. This patient, who was a lawyer, felt that he was not getting fair value from his doctor anymore. He didn’t understand that his insurance sets the payment rate which is far below the fees set by his doctor and it also sets his patient responsibility for the services rendered.
We walked him patiently through the insurance billing process and explained that it was neither the doctor’s fault nor his why he had to pay more. It was caused by how his insurance companies have changed their reimbursement policies. Even though our client had not raised his fees for three years, the insurance companies had changed their reimbursements by passing along more of the cost to the patient through higher co-pays and increased deductibles. Adding insult to injury, he was also paying higher premiums for his coverages than before.
Through education, we turned a highly dissatisfied patient into a more loyal one who affirmed how great our client was. This was all because of our caring concern for the patient’s concerns and issues.
Doctors often get blamed when patients do not understand how insurance works. Such misunderstanding may result in lost patients who avoid their bills and their doctors and lost payments because the patients fail to realize their insurance coverage caused them to have higher out-of-pocket costs.
The billing service must educate patients so they understand the value of the care rendered and are happy to come back and see the doctor again for treatment.
By treating patients the right way, CPM helps its doctors gain patients for life.
Stay in touch to learn how you can bring more patients and more money to your practice.
Taking care of your business the right way always,
CPM – The Doctor’s Business Doctor – Medical Billing your way – the only way!