Collecting from patients with high deductibles: 5 things to consider

Low-premium high-deductible health insurance plans may cause trouble for independent physicians, according to an article from the Pittsburgh-Post Gazette.

Here are 5 things to consider about collecting from patients with high deductibles:

1. More people are enrolling in plans with low premiums and high deductibles. Almost half of larger employers offer a high-deductible plan, according to data in the report from the New York City-based Mercer consulting firm. Enrollment in high-deductible plans increased 5 percent to 23 percent in the last year. On some plans, the individual average deductibles are $2,500.
2. Many enrolled in these plans understand their deductible, or they are not financially able to pay the high rates, according to the report. "If we bill an insurer, we would be reimbursed in seven to 10 days. If a patient gets a bill for $600, you're lucky if you can get paid $25 a month," Ashley Santoro, practice manager for Cardiovascular Disease Specialists of Pittsburgh, told the Pittsburgh-Post Gazette.
3. Patients who are unable to pay the deductible on time increase a practice's outstanding accounts receivable, which translates to lower take-home pay. "It's slowing [physician practices'] ability for paying themselves. Their take-home pay is going down," Donna Kell of the Kell Group billing services told the Pittsburgh-Post Gazette.
4. Addressing the cost of medical procedures upfront may deter patients who truly need the care. Ms. Santoro of the Cardiovascular Disease Specialists of Pittsburgh said she's seen patients with congestive heart failure or uncontrolled diabetes cancel appointments or reduce the frequency of their check-ups to manage costs, according to the report.
5. Collecting from patients rather than collecting from insurance companies puts physician practices at risk for bad debt and adds legal obligations, according to the report. For example, creditors may only call individuals regarding bills at certain times of the day.  

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