There are several hurdles ASCs face when working to implement a TOS co-pay policy. They include:
– uneasiness of asking for money up-front;
– staff not understanding billing calculations or insurance benefits; and
– staff performing insurance verification could be different than staff doing registration.
Here are six steps GENASCIS recommends for ASCs to improve collection of time of service patient co-pays.
1. Educate your staff on TOS co-pay policy.
2. Build a patient co-pay calculator.
3. Base the calculator on your fee schedule and scheduled CPTs.
4. Include CPT combinations where possible.
5. Use the calculator for taking payments at time of registration.
6. Strive to collect 100 percent of co-pay prior to service.
Learn more about GENASCIS.
Read more insight from the leadership team of GENASCIS:
– Denied CPT 64495: Q&A With Stacey Miller of GENASCIS
– 4 Steps to Reduce Implant Billing Deficiencies
– 17 Orthopedic Procedure CPT Codes With Separately Billable Implants
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.