Copayment
A copayment is a fixed dollar amount a patient pays out of pocket for a covered service, set by their insurance plan, such as a flat fee per visit. ASCs collect copays at or before the time of service.
What is a copayment?
A copayment is a fixed dollar amount a patient pays out of pocket for a covered service, with the amount set by the terms of their insurance plan. It is a flat charge, such as a set fee for an office visit or a procedure, that does not vary with the total cost of the service.
Copayments are one of several forms of patient cost sharing, alongside deductibles and coinsurance, that divide responsibility for a bill between the plan and the patient.
How are copayments handled in an ASC?
Ambulatory surgery centers typically collect copayments at or before the time of service, since the fixed amount is known in advance and is easiest to capture while the patient is present. Collecting up front reduces the volume of small balances that would otherwise have to be pursued afterward.
Reliable copay collection supports both cash flow and the patient financial experience, because clear, timely expectations are easier to meet than surprise bills later. It also lowers the cost of collections by minimizing back-end follow-up on amounts that could have been gathered at check-in.
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