Do you struggle with increasing revenue because your medical facility has so many unpaid patient bills? Are you having trouble getting your patients to pay up after they are provided with quality medical services? This is a common issue with many healthcare firms, and they often turn to medical billing services or collection agencies to help them receive patient payments. Businesses depend on the payments for their services, and the medical field is no exception. There are six ways your medical facility can increase patient payments so that you can increase your revenue.
When your patient makes appointments, they typically sign up for a calling or texting service to remind them of their appointment. You can do the same things for payments. When it comes time for a patient to pay up, you can give them a call or send them an automated text to remind them that their bill is due. This will prompt them to make a payment.
Medical billing services or collection agencies help to collect patient payments for many different medical facilities. They are trained to help medical facilities increase their revenue and their cash flow by submitting claims to prompt patient payments. They educate patients on the risks of not paying their bills, which often makes them pay up.
Your administrative staff is often the first to greet your patients as they sign-in for their appointments. In order to get more patients to pay their bills, train your administrative staff to prompt payments at the time of the appointment. Many times, people will ask to be sent bills through the mail, but if you provide strategies to your staff, they will be able to ask for direct payment at that time.
When your patients enter your office, give them paperwork that grants them access to online portals or autopay accounts. By setting up autopay accounts, they will not even have to think about their payments. Instead, these payments will automatically be taken out of their accounts at the time they are due. This will help to increase the amount of bills that are paid on time in an easy and hassle-free manner.
Often times, patients aren't aware of how much money their services cost. This may be one of the reasons they have difficulty paying their bills on time. In order to avoid this issue, be transparent about the costs of your medical services. Let them know exactly how much your service will cost them so they don't suffer from sticker shock when it is too late.
Another way to help your patients pay off their bills is to offer them payment plans. Although it may take a while for you to collect their payment in full, they will still be making progress to pay off their bills. This will be better than nothing. Also, it shows that you care about their financial situation, which will likely keep them coming back for more of your services.
By following these six steps, your medical practice will be able to prompt patient payments and increase your revenue. If you still have difficulty collecting patient payment, contact our medical billing services to hear about how we can help you.