9 8 • O U T PA T I E N T S U R G E R Y M A G A Z I N E • A P R I L 2 0 1 9
Each week, about 3 of our
patients use healthcare credit,
mostly middle-aged and
younger orthopedic patients and
self-pay patients. A few tips for
success:
• Verify benefits. Don't sur-
prise patients on the day of sur-
gery with what they must pay
upfront. If we know that amount, we send a letter 1 to 2 weeks
before surgery, then follow up with a text and, if need be, 2 phone
calls.
• Self-pay patients: perfect candidates. Catastrophic insurance
policies with large deductibles are intended for those who never
see the doctor, but need care in the event of a catastrophic event.
These patients would rather pay out of pocket than use their
insurance policies. We see about 2 such self-pay patients a
month. They usually want to hear about our financing options.
• Offer patients the right plan. Don't offer a patient who took
out a $1,200 loan a 6-month deferred-interest program if you
don't think he can afford $200 monthly payments. If he misses a
payment, the creditor will charge the interest that has accrued
since the time of the transaction. It often balloons to more than
25%. Nobody wants to play bank, but if you're able, offer a 12-
month plan with $100 monthly payments.
But keep in mind, the longer the payment term, the higher the
transaction fee with which you'll be charged. For example, one
Winning With Healthcare Credit
PRACTICAL PEARLS
