Independent medical practices have historically led the industry in their success rate with collecting patient payments, as compared to hospitals and larger healthcare networks. But new numbers from a recent Kaiser Family Foundation survey point to the need to give more thought and attention to patient collections. In 2016, 83% of covered workers now face an annual deductible for single coverage. And the deductible has increased to $1,221, from $1,077 in 2015 (KFF.org). For the foreseeable future, patient collections will be representing a substantial part of total A/R. And medical practices are seeing the need to rethink their payment collections methods--not only to improve payment and collections, but to improve patient satisfaction and engagement.
Editor's note: This updated content was originally posted July 2015.