Why Patient Centric Revenue CycleApr 19, 2023
Insurance is complicated. We in the industry struggle to understand all the nuances at times, so imagine our patients, many elderly or lacking education or information about insurance, trying to sort through their coverage! We often have apathy and lack of knowledge in our practice staff, especially front office staff who are often paid less than workers at fast food with inadequate training and frequent turnover. I can't count how many times I have heard front office and practice managers state that it's not their responsibility to educate their patients about their insurance. If you want to get paid, yes - it is!
Patient-centric revenue cycle begins with educating the patient about their coverage, benefits, and eligibility, ensuring we have the most accurate insurance information at the time of service, explaining COB and why it's important we have the right insurance designated as primary, and collecting upfront when possible or offering patients the opportunity to set up payment plans, apply for assistance, or explore payment options for higher cost services.
Bottom line: WE (medical practices) need to take a more active role in educating and assisting our patients to understand their insurance benefits and payment options so that they can take an active role in ensuring their healthcare services are covered and they handle their patient responsibility.