Can you collect the co-insurance from your Medicare patients on the date of service when you know the patient does not have co-insurance coverage?

Answer: Yes, you may collect the co-insurance on the date of the service from patients who advise you that they do not have co-insurance coverage. My question to you: Why aren’t you trying to collect the co-insurance amount at time of service from your Medicare patients? So you’d rather bill and collect and then send your Medicare patient a bill of $12.45? Doesn’t make sense. By the way, collecting patient copayments at time of service applies to ALL patients from whom you can legally collect from. Benchmark: You should be collecting at least $1.00 from 90% of all daily patient visits for whom you can legally collect a copayment from.

Have questions? I’m here to help.

This field is for validation purposes and should be left unchanged.
This field is for validation purposes and should be left unchanged.
Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA