Ideas to better manage consumer-directed health plans

If you’re going to participate in a high-deductible plan, set aside time when your front office, billing, and collections staff can meet, and ask to have a plan representative on site to train them and field any questions they may have.

Also, develop a strategy to counsel your patients. Prior to their visits or surgeries, talk to patients about their deductible requirements. Even go one step further and consider collecting the deductible prior to surgery.

I have found out that some hospital systems are even working with local banks and signing up patients for credit cards with preestablished limits equal to their high deductible.

This way, the bank, not the medical practice, now collects the patients’ high deductibles.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.