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What 'high-deductible season' means for ASCs — 3 insights

Patients' out-of-pocket payment obligations are higher at the beginning of the year, creating challenges for ASC collections, according to BHG Patient Lending.

BHG Patient Lending, a financial solutions provider, recommends offering financing options for all patients, accepting various payment methods and providing monthly payment options to accommodate different budgets.

Three more insights for ASCs from BHG Patient Lending President Keith Gruebele:

1. ASCs should prepare to manage internal payment plans and extend billing and collection services during "high-deductible season."

2. ASCs' accounts receivable "can grow exponentially" as a result of high deductibles.

3. The high cost of collections can translate to lost revenue.

More articles on surgery centers:
21 ASCs with coronavirus restrictions or closures
How gastroenterology practices are responding to COVID-19
How COVID-19 has affected Tenet, HCA Healthcare and Surgery Partners' shares

 

 

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