• Ep. 31 Patient Accounts Receivable

  • Jul 16 2024
  • Length: 36 mins
  • Podcast

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Ep. 31 Patient Accounts Receivable

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  • Summary

  • n episode 31 of 'For the Love of Revenue Cycle,' the host discusses patient accounts receivable (AR) in a clinic setting, emphasizing the importance of professional billing over facility billing. Key topics include naming conventions in billing systems, the role and definition of a guarantor, and the nuances between insurance processing and payment. The episode delves into best practices for managing patient AR, handling self-pay arrangements, and understanding patient financial responsibility, especially under high deductible health plans. The host also explores the impact of technological innovations on both pre-service and post-service collections, strategies for reducing collection costs, and compliance with federal and state regulations. Finally, the session provides practical recommendations for managing self-pay balances and patient shares, offering financial assistance, and ensuring consistency in collections policies. 00:00 Welcome and Introduction 01:27 Understanding Patient Accounts Receivable (AR) 01:54 Naming Conventions and Guarantor Responsibilities 05:40 Insurance Processing and Patient Responsibility 19:26 Collecting Patient Payments 22:58 Technological Innovations in Revenue Cycle 25:34 Best Practices for Self-Pay Balances 27:00 Handling Balances After Insurance 28:03 Developing Effective Collection Policies 34:45 Conclusion and Final Thoughts
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