Revenue Cycle Time Line: Self Pay Payment Options

This article has links to allow easy access time line content from Scheduling to Bad Debt Recovery. Use this information as a starting point for planning, SWAT Analysis, or to review policies and procedures for gaps. Create a time line for your facility to assure all participants share the same expectations.

Goals:

· Review the estimate for the out-of-pocket amount due from patients before services begin

· Meet consumer expectations for pricing “transparency”

· Reduce cost of collecting patient liabilities

· Investigate options for self pay balances to be covered by other sources

Activities and Considerations:

The Estimator (from the previous step) must have the ability to retrieve a patient service estimate previously generated and output an estimate sheet for review with the patient. The review should include previous accounts still owed as well as amounts anticipated as patient liability for this visit. Hospital Associated involved in dialog with patients should have several payment options available. These include:

· Incentives for payment in full for current and previous balances

· Loan Program for patients willing, but unable to pay (requesting more than six months)

· Promissory note for payment terms between 90 days and six months

· Automatic (default) terms of three payments over 90 days

· Governmental eligibility review for all self pay and Medicare-only patients

· Financial Assistance dialog for self pay patients who do not qualify for Medicaid

Patient dialog can occur before service in person or before service via phone. If before service by phone, the call should be recorded and saved in the patient-specific folder. When occurring by phone, the printed estimate form may be mailed to the patient’s residence.

If dialog occurs in person, at time of registration, the Self Pay Estimate worksheet should be signed by the patient and the registrar.