ACA exchange plans add financial stress to medical providers. Patients have a 90-day window to pay their premium, which leaves the physician exposed to unpaid patient claims. Enrollees that sign up for the new ACA exchanges and receive treatment for healthcare services, sometimes fail to pay their premium. This can leave the physician stuck with unpaid claims.
Many ACA plans also have higher deductibles and co-pays, which puts the providers in a more awkward position financially with their patients. It’s important to train staff on how to handle such issue and increase the number of electronic payment options available to patients.
Providing ancillary services, like in-office dispensing, is an excellent way to stabilize cash flow issues for patients that do not follow through with premium payments or do not have enough money for their co-pays and deductibles. Be sure to register for a free online webinar below for more information on physician dispensing.