The risk of low or no payment from patient cannot be avoided even if you try the best of the best billing practices but sometimes, even the best tools or teams cannot help you recover the billed amount from a patient. It can affect the image of your business as well. So carefully analyzing their plans is more important and far better than expecting them to pay up sometime later after being billed.
There are some specialties like therapists and dermatologists who see most of the patients less often. Skin treatment and therapy is something which is essential but at the same time costly for most of the people. In regards to how many times you see one patient, it is important to carefully take a look at his/her plan. Well who would do that? Well, that’s where you need us.
For instance, let’s take a look at a case of an insurance called Geico which, before reimbursing or making any payment analyses the patient carefully through their own designated provider who determines if a patient actually and really needed a certain treatment. What would happen if some such insurance denies your claims stating that your patient didn’t actually need any services you rendered. Your time and money both wasted. This can happen to therapists and dermatologists.
Some insurances have very long payment cycles and if that is the case then loss of money is indefinite. So what is the right way of looking into it? For specialists who have a lengthy or expensive procedure to perform on a patient, they need to analyze patient’s plan.
Generally speaking, PPO, or Preferred Provider Organization plan holders tend to have stronger financial position and they usually pay high in premiums and out-of-pocket expenses. For such patients, the chances of losing money or writing off an unrecoverable claims are less. Other plan holders can also come through if they have multiple insurances at their disposal.