Maximizing Year-End Revenue: Medicare Annual Deductibles and Streamlined In-Office Collections
As we embark on a new year, it’s a perfect time to revisit essential aspects of healthcare financing, particularly the yearly deductible.
Understanding Annual Deductibles
An annual deductible is the amount patients must pay out of pocket before insurance starts helping with healthcare costs. Medicare Part B deductible for 2025 was announced to be $257.00
Simplified Deductible Collection Strategies by ABC
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Proactive Insurance Verification
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ABC offers training for front-office staff to verify insurance details, including remaining deductible amounts.
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Educating patients early ensures they understand their financial obligations and reduces confusion at the time of service.
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Clear Communication
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Share deductible details when scheduling and confirming appointments to prepare patients for upfront payments.
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Collecting Deductibles During Visits
To make things simple, figure out how much the insurance allows for the visit and collect the deductible portion from the patient upfront. Here’s how it works:
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Example 1: If the allowed amount is $100 and the patient has $50 left on their deductible, collect $50.
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Example 2: If the allowed amount is $100 and the patient still owes $150 on their deductible, collect the full $100 upfront.
Let’s work together to ensure a profitable and organized start to 2025!