Healthcare billing is super confusing to the patient. You go into one hospital and you end up with 15 different bills from all the various departments who saw you. It’s frustrating for the patient and for the hospital that wants to get paid.
The truth is two out of every three patients seen won’t pay their bill. That’s pretty grim for a mom and pop doctor’s practice or a small rural hospital. How can you boost those numbers? You have to use an effective revenue cycle service to manage those bills.
Here we discuss how to make your revenue cycle service better to get more of those bills paid.
Streamline and Automate Your Revenue Cycle Service
Some medical offices are still using a manual system of processing patient’s billing. In this time of modern technology, there is no reason for this. An automated processing system keeps patients files more organized and tracks them from start to finish.
You want a system that keeps the file of the patient together through every step of the process. From walking in the door all the way to paying the bill you need that info all in one place.
There are many systems out there to help you do this. Keeping your files organized, using a quality revenue cycle management company, and tracking the progress of your patient’s files are the best ways to boost revenues at the end of the cycle.
Engage Patients From The Beginning and Do Better At The End
A big key to success if having a staff with a system that is able to pull up insurance information. By having all the information immediately your staff can collect co-pays and payments before the patient sees the doctor.
Collecting payments at the beginning of the visit is by far the best way to make sure you get paid. While this is not always possible in emergency situations, it’s important to have financial conversations with your patients as soon as they are able.
Some providers are also using online self-pay portals making the process simpler to complete on the patient’s end. Paper bills in the mail are not cutting it anymore. You have to make payment as convenient and simple as possible to get your highest revenues.
By engaging your patients at every level you create a friendlier environment. You could even create a social media plan to engage with your patients online and build a relationship beyond the office.
The Bottom Line
By doing some of these simple measures it can give a big boost to your bottom line. Get your team and files organized. Utilize a quality computer system to locate insurance information with accurate co-pays. Give the patient an easy and simple way to pay. These ideas can only boost revenue.
So many patients are unable to pay their bills due to high deductibles and other circumstances. You must be on top of your game to collect as much of the revenues owed as possible.
Have you been to a hospital lately and had a great experience with the billing process? Had a horrible experience and want to make people aware? Any tips you have that could make the hospital and doctor’s office revenue cycle easier to understand? Please leave us a comment and share your ideas!