9 Ways Healthcare Providers Can Improve Co-Pay Collection
Co-payments account for about one-fifth of a private practice's funds, but collecting them can be tricky. These strategies and tools help practices get a handle on unpaid bills.
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When Sharp Healthcare installed 27 kiosks across 11 clinics, the San Diego-based provider primarily aimed to improve patient engagement and satisfaction while meeting federal mandates, said Michelle Calleran, manager of information systems, in an interview. Patients can use the kiosks to update their contact information, check in for appointments, and settle their bills.
While the kiosks, developed by Vecna, are meeting Sharp Healthcare's primary goals by expanding enrollment in the provider's patient portal and improving patient relations, Sharp Healthcare also noticed a growing trend in patients paying overdue invoices. "This was a real surprise," Calleran noted. "In October, people paid past balances of a few thousand dollars. We're up to double digits -- as high as $15,000 [per month] now."
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