With patient responsibility poised to make up a larger and far more critical percentage of providers’ total revenue, bad debt can no longer be viewed as simply a cost of doing business, because it now has the potential to damage or destroy your practice.
In a guest blog post for Medical Practice Insider, ZirMed’s Vice President of Product Strategy Doug Fielding shares three essential questions providers should ask to build a smooth, efficient pipeline for patient collections:
- How do your patients prefer to pay?
- What amount or percentage are they willing to pay up front?
- Do they prefer traditional printed statements or e-statements and what differences in collection rates to you see between the two?
To learn more about how to optimize your patient collections strategy, read more tips from Doug in the full blog post, here.