The health insurance industry is becoming more and more dependent on patients paying for a large portion of their medical bills. This is in addition to increasing costs in health insurance premiums. Many providers struggle with getting patients to understand the portion of the bill the patient will be responsible for. If explained accurately, more than 50% of patients will pay their bill upon receipt, and in many cases can even be convinced to pay at the time of service. While Infinite Medical Billing is capable of handling patient billing, we believe that the first stage begins in the office.
Liz Frasier Peck wrote an easy to follow guide for Forbes called “To Understand Your Health Insurance Policy, You Must First Learn These 4 Terms”. It talks about deductibles, copayments, coinsurances, and out of pocket maximums. Understanding these 4 words and how they work together can make all the difference in getting your patient’s to pay their portion. Click here to view the full article.