Medical bills can confuse patients, which can cause them to pile up on their countertops neglected for months. As a medical business, you will then have to send out multiple requests for the patients to pay up so that you can get the payment you deserve. As a company that offers revenue cycle management services to help medical businesses increase revenue, we understand the difficulty of getting patients to pay their bills. These are a few of the ways that you can get your patients to pay their medical bills.
Giving your patients a payment plan can help them to pay their bills. Charging a large sum at one time is extremely daunting and can deter your patients from paying. Having the option to pay in smaller increments will always help a struggling patient and is an easy way to increase your likelihood of collecting on your patients. Payment plans allow you to be paid on a regular schedule and make sure that your customer can pay. Being given the option to pay small chunks of a large payment over several months or years can significantly increase your chances of getting paid and will help the patient too.
Allowing a patient to use a payment plan of this type will allow your patient to pay as they work and will allow a patient to pay a reasonable amount every month that will ensure they do not become overworked and stressed that they will not miss a payment. These Payment plans are tailored to low-income patients and can ensure that they do not lose everything because of their medical bills. While being paid is extremely important, it is important to take care of your community, and allowing for these types of payment plans will make sure that you get paid and your patient is satisfied.
Be open to negotiating your prices with your patients. If possible, allow a patient to pay a slightly lower price on their medical bills is a definite bargain if it means you will be able to collect the entire payment. Sacrificing a small portion of your pay in exchange for getting paid is a good bargain and will help to make sure that you end up with your payment. Taking the initiative to understand that a large amount of people is unable to pay large bills will help to allow you to negotiate with those who need a smaller bill.
Helping to teach your patients about the value of health insurance, and why they need to invest in it, is important for making sure their bills get paid. Many people who do not pay their medical bills also do not have health insurance. Providing resources for learning about health insurance will help them to find an insurance plan that works for them, so that they are able to pay their bills easier. It is important for patients to have the best chance at success and teaching them about health insurance is a great way to do this.
These are a few options that can increase the chances that your patients will pay their medical bills. When you are looking for help, trust Signature RCM to provide you with revenue cycle management services. Contact us to hear about our medical billing services today.