As a medical practice, there’s plenty of ways clients may try to pay for their treatments. While some of our clients still have some portion of their patient income come from insurance, Medicare or Medicaid, we see a growing trend with this decreasing each and every month due to shifting government healthcare reimbursements.
It’s not secret that a growing number of medical practices are including cosmetic services into their menu, shifting perhaps from a clinical dermatology practice or an insurance-based gynecology practice to one that includes a range of aesthetic services, ranging from laser services to injectables and even cosmetic gynecology services for those practices comfortable including the service in their menu.
While patients will be interested in any discounts you may have forgotten to mention, other patients may be interested in additional financing options. Whether your practice provides internal financing to your patients or you work with a third party, like CareCredit, LendingUSA or our own financing program, we encourage you to ask each patient if they’re interested in financing for their procedure. Often, patients are too embarrassed to ask, and would sooner walk away and give you an excuse, leaving a hole in your schedule… and your bank account.
Looking for answers to the top questions about patient collections in your medical practice? Jay Shorr, founder and managing partner of Shorr Solutions, answers them in his article, “10 Most Commonly Asked Questions About Collections in the Medical Practice.” Click here to read his article in The Journal of Medical Practice Management.
Have a question about patients or collections in your medical practice? We’d love to help you! Contact Jay Shorr and Mara Shorr here.