As a chiropractor, running a successful practice is about more than just providing excellent care to your patients. It’s also about managing the business side of things, including collecting payments from patients and insurance companies. Unfortunately, collecting payments can be a challenge, and practices often end up losing money because they don’t know what to collect or have to spend time following up with patients after the fact. But now, with Genesis Chiropractic Software’s new feature, the Patient Responsibility Estimator, practices can improve collections and boost revenue.
The Patient Responsibility Estimator is a game-changer for offices looking to collect payments efficiently and accurately. The feature uses payer/cpt specific expected allowed amounts, which practices can enter on reports>billing analytics>payer allowed amounts, and patient information such as deductible, copay, and coinsurance entered on their primary tab, along with existing claims on the account, to estimate the amount to collect from the patient at the time of service. This means that instead of only collecting the copay or waiting until the claim processes, practices can collect now and get close to what is expected.
The benefits of the Patient Responsibility Estimator are clear. For one, it takes the guesswork out of what to collect from patients. Office staff no longer have to waste time trying to figure out what to collect, and patients can pay upfront without having to worry about any surprises down the line. Additionally, the feature helps practices improve collections by reducing the risk of never getting paid. By collecting close to what is expected, practices can avoid losing money, especially in offices that have trouble collecting payments.
Furthermore, the Patient Responsibility Estimator is designed with simplicity in mind. It’s easy to use, and it’s available now, compatible with v26/v27. This means that practices can start using it right away, without having to go through any complex installation or training processes.
Of course, it’s worth noting that the deductible is manually entered on the primary tab, and the Patient Responsibility Estimator doesn’t auto-run verifications to get the latest deductible information. However, this doesn’t detract from the value of the feature. Even without auto-running verifications, the Patient Responsibility Estimator is still a powerful tool that can significantly improve collections and revenue.
In conclusion, the Patient Responsibility Estimator is a must-have feature for any chiropractic practice looking to streamline payments and improve revenue. By eliminating guesswork and reducing the risk of never getting paid, practices can focus on providing excellent care to their patients while still running a successful business. So why wait? Try out the Patient Responsibility Estimator today and see the benefits for yourself!
