It's no secret that many people struggle to pay their medical bills. However, this doesn't excuse them from paying for the services they've needed. In fact, almost one-third of people has medical debt or do not pay their medical bills for one reason or another. This number is astoundingly high, and it needs to change. Many collection agencies help medical practices collect the money they rightfully deserve. By offering revenue cycle management services, we aim to increase the amount of money that goes back into the practice's pocket. There are a few ways we can work together to boost patient bill collections.
Whenever patients come to you for your medical services, be clear about your payment policy. This way, you avoid having to field phone calls or questions after billing is done. Also, this provides patients with the clear consequences, such as late fees or penalties, if they do not pay on time. When you have a standardized payment policy, it reduces the aggravation of having to defend yourself when patients have issues paying.
Sometimes patients truly forget to pay simply because they do not have checks on hand. By offering more payment options, you will likely get more patients to pay their bills. Today, online payment systems are a great way to settle up with patients. These systems make it easy for patients to log in and enter their credit card information to save to their account. This way, when they go to pay their bills, they only have to click on 'pay.'
Patients often times forget or file away their bills in a heap of other mail. This means they won't pay up right away. You can prevent this issue by setting reminders to alert them of their payments. Online reminders are the easiest and least complicated method of reminding patients about their impending bills. You can also send them postcards or even resend their bills entirely.
During the time of their appointment, you should always discuss the payment policies and options with your patients. This makes your intentions clear and it also provides them with the information they need to actually make the payment. Discuss their deductible and any potentially not covered fees that they can be billed for after the appointment. This eliminates any surprises.
These are just a few of the ways we can work together to help collect more money and settle up more patient bills. This will lead to increase in your revenue, which will help your medical practice grow. If patients continue to ignore or neglect their bills, this makes it difficult for medical facilities to stay in business and provide the much-needed services they do. With our revenue cycle management services, we will get you paid. Contact us today if you are having difficulties settling up with patients.