Co-Pay vs. Co-Insurance
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Did you know there is a difference between these two terms?
Together, they both mean ‘patient portion’ however Co-Pays are preset amounts that patients pay for each procedure, whereas Co-Insurance refers to the percentage of costs that the patient pays.
Many people use the term ‘co-pay’ synonymously, I did too!
I did until a patient got upset with me that I said, “Her copay is X amount instead of her co-insurance is X amount.” 😳🤷🏻♀️
Are you new to insurance and want to learn the common terms?
I recommend joining the Insurance Systems course.
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Best of luck!
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Running a dental practice is a lot of work, but it doesn't have to be overwhelming.
By completing a few simple tasks each week, you can keep your practice running smoothly and ensure that you're collecting what you're owed.