Introduction Maximizing patient collections is key to the success of a chiropractic practice. It is an important component of revenue cycle management. Collecting patient balances might be easier said than done as the cost of healthcare is rising and the patient financial responsibility that is growing with it.
In a recent report, 67% of providers said that their primary revenue cycle concern is patient receivables (Provider Healthcare Payments Survey 2018).
Only 12% of practices collect outstanding balances at the time of service, while some practices collect nothing at all 67% of the time.
5-Step Protocol to Increase Patient Collections
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