Accepting cash payments is one way practices can broaden their revenue beyond traditional fee-for-service. For our readers in integrative health fields – such as acupuncture, massage therapy or chiropractic practice – accepting cash payments is typically a necessity (like it or not) given the challenges of insurer plans.
Still, cash-pay acceptance can create a unique set of issues for practices to deal with. And that’s true whether the need is motivated by an “actual cash” problem (that is, a need to accept full payment from patients who do not have health insurance) or an “effective cash” problem (in which insurance doesn’t cover desired services, or deductibles have yet to be met).
A few best practices can help providers handle both kinds of cash-pay concerns with confidence.