December 14, 2022
As the current year ends, physicians are urged to verify patients' eligibility and benefits for 2023 to ensure they will be paid for services rendered. The beginning of a new year also means that both calendar year deductibles and visit frequency limitations reset. And, with open enrollment, patients may even be covered by a new payor.
Don’t get stuck with unnecessary denials or an upset patient. Do your homework before the patient arrives by obtaining updated insurance information and verifying eligibility at the time of scheduling, if possible, and making copies of the insurance card at the time of the visit.
And, don't forget that deductibles are typically based on the calendar year and will reset on January 1 such as with Medicare. For 2023, the annual deductible for all Medicare Part B beneficiaries is $226, a decrease $7.00 from the 2022 annual deductible of $233. For Medicare Part A, the inpatient hospital deductible that beneficiaries pay if admitted to the hospital will be $1,600 in 2023, an increase of $44 from $1,1556 in 2022.\
Best practice is to communicate with patients upon scheduling to remind them that their plan has a deductible that may be resetting on January 1 and, if that is the case, that payment will be due at the time of service.
If you offer an appointment reminder service, remind the patient if payment is expected at the time of service. Failure to collect deductibles, copays and coinsurance at the time of service can be very costly for a practice, as your ability to collect can decrease significantly after the patient leaves the office.
Taking these proactive steps to protect your practice by preventing denials, delays in payment and disgruntled patients goes a long way toward ultimately saving time and money.
For more information on the 2023 Medicare Parts A and B premiums and deductibles, click here.