The best time to collect professional fees is when the medical service is provided; however, for most anesthesia providers, this is not possible, according to a March 8 post by medical revenue cycle management group Coronis Health.
When considering how to bill, the group suggests that anesthesia providers distinguish between insurance balances and patient balances to identify patterns of payment at their respective practices. Separating the two can give providers a better understanding of where they are not meeting their expected revenues and shape a fitting payment structure, according to Coronis Health.
The option of collecting pre-payments from patients for services would be ideal, but it is often not so simple, according to the group. Anesthesia charges are typically not calculated until after services are rendered, and patient insurance coverage can vary significantly.
If prepayment is not an option, Coronis suggests that the sooner anesthesia practices are able to get the patient to acknowledge responsibility for the payment, the higher the likelihood of receiving those fees.
There are multiple billing options for anesthesia providers; however, Coronis recommends that practices have realistic expectations when faced with self-pay accounts and that getting a partial payment is better than none at all.
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