Out-of-Network charges and how to handle patient questions in that regards is a complicated puzzle to solve. We talked to a few physicians to understand how they handle their out of network (OON) issues. Here, we have summed up the suggestions for you.
4 Strategies to Manage Out Of Network Charges
1. Find best payment methods for your patients.
Your medical billing and coding company can help you with this. Evaluate your “patient visits summary report by insurances” to find out the impact of out of network charges on your practice. The possibilities are that you may have to begin turning patients down because they cannot pay the complete payment at the time of service, or you may have to start charging them a ‘self-pay’ fee. You can do this yourself or better, hire a third party provider to help you through this process.
2. Transparency is important to your patient.
Today’s patients are experienced buyers, so the more transparent you can be with your patient, the better it is. If they trust you as a medical provider, have them also trust you in the fact that you have their best interests in mind and give them different options for your services. Especially if the patient has to pay the bulk of your service out of their pocket, they will appreciate doctors giving the option of self-pay upfront so they can make an informed decision. It will also lead to a better relationship with your patients. The better the relationship, the more obliged they will feel to pay the bill and be more willing to come back to you again.
3. Restructure your fees to be more affordable to your patients.
Do you want to be a ‘boutique’ type specialist and specialize in OON work? Can you align your fee structure to be competitive? Alternatively, offer a mix of both? One way is to find out what others in your field and specialty are doing and how their decisions are working for them. The doctor-patient relationship is changing, and you must be ready to adopt and adapt to the changes that best fit your needs. Your billing company can help you make those decisions and consult with you on best practices.
4. Team up with a medical billing services company that will help you identify best practices and implement them.
Seek your medical billing provider or, find one if you do your billing in-house. Teaming up with a medical billing provider will help you to navigate through various steps of managing out of network charges efficiently, bringing back the cash to your practice. Moreover, it will leave you with more time to focus on what you do best – practice medicine.
Practice Forces provides medical billing outsourcing services for clients around the country, and has been partnering with physicians & practices to provide revenue cycle management, across all medical specialties. We also partner to create professionally designed medical website. Call us today for a FREE consultation at 866-634-6327 or, simply email us at firstname.lastname@example.org.