Strengthen your payment-collecting strategies

Sales of high-deductible health plans sold in connection with health savings accounts (HSA) have more than doubled in the past six months. This shift toward consumer-directed healthcare means costs formerly covered by employers now fall directly into the laps of consumers.

If you don't look to strengthen your payment-collecting strategies and policies on follow-up visits, you could be at risk for losing valuable dollars in your practice or waste time trying to collect these unnecessary receivables. In order to protect your practice from the pitfalls of these new high-deductible benefit plans:

·  Be proactive and improve office policies to reflect the recent industry shift. (i.e. MANAGE the front desk)

·  If you don't have a good process now, you should be developing one. Additional diligence will be required to collect the money owed providers than in pre-HSA days. (i.e. MANAGE the front desk)

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.