Patient Collections:
This is how Ambulatory Surgery Centers do it.
In the third quarter of 2015, Navicure commissioned Becker’s Healthcare to conduct a national survey of ambulatory surgery centers (ASCs) to gauge their current patient payment processes, challenges and technologies. Download the full report here. Here’s a look at some of the key findings from the survey:
For nearly three-fourths of respondents, patient pay revenue represents 21-40 percent of their ASC’s overall revenue.

Yet, only 33 percent indicated that patient collections is a high priority for their owners. It is estimated* these patient payments could represent $1.4 to $2.7 million of overall revenue annually for an individual ASC. 

*Becker's Hospital Review, "100 Surgery Center Benchmarks", September 2011

Here’s what respondents identified as their top patient collections challenges:
  • Patients who are unable to pay (32%)
  • Patients who are slow to pay (30%)
  • Ability to estimate patient financial responsibilities (12%)
  • High cost of paper statements (12%) 
All of these challenges can be addressed by automating time-of-service estimation and collections processes.
ACSs are using a variety of patient payment methods and technologies to collect payments.
The most frequently used are debit/credit card terminal “swipes” (81%), online bill pay (78%) and cash collections (71%).
Many participants rely on manual processes and haven’t yet incorporated best practices into their collections strategy.
Collecting payments by mail and taking credit/debit card payments via phone can limit productivity, lead to errors and pose a huge security risk.
Though the following best practices have proven to boost patient collections, only a small fraction of ASCs reported always incorporating them into their collections strategy:
Best Practices.
Manual processes and outdated practices are causing ASCs to miss opportunities to improve their financial health.
The bottom line: ASCs cannot afford to ignore one of their top payers—their patients. 
To address revenue-draining challenges of patients who are unable or slow to pay, ASCs must adapt with more effective, automated collections processes. They need to use technology that will expedite collection from patients prior to appointments, at the time of service, or post-adjudication, when patient responsibility is known.

Automated patient collection tools such as credit card on file, patient estimation, automated payment plans and e-statements allow staff to work smarter rather than harder.
Find out how Navicure® Payments™ can help your organization collect more from your patients faster and with less effort.