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How To Explain A Balance to a Patient
Main Points Be Clear Be Concise Be Constructive The reality of high deductible health plans (HDHPs) is still setting in. Patients are choosing to pay less in monthly premiums in exchange for HDHPs, but this places more of the financial burdens on the patient when it comes to paying for health care. This strategy is called assuming downside risk. This means that they pay lower premiums but the downside is that they will pay more in health services. Due to more patients assumin
Overcome Falling Reimbursement Rates
Main Points Regain control of your business Predict billing for prospective clients Private insurance companies are doing to the mental health industry what they have done to the rest of the medical field - cutting reimbursement rates, deny claims, and raise the bar on getting paid. This year we have seen psychological testing rate go down due to the change in CPT codes and some insurance companies continue to fluctuate rates, with the exception of an increase and positive ch
3 Reasons Why You Need to Track Insurance and Patient Aging
An important aspect of owning a business and a practice is knowing what performance indicators are necessary to track in order to make informed decisions about the business. For practices, tracking the aging reports for patients and insurance can be vital when making decisions. Here are 3 reasons why you should be tracking the patient and insurance aging: 1. Tracking your aging gives you an idea about cash flow The critical factor to keeping a business afloat is cash flow. Wi
