How to Boost Patient Collections

According to a recent study, about 30 % of adults have a medical problem or have a hard time keeping up with their cumbersome medical bills. It suggests that something needs to be done to perk up patient collections.

Physicians and practice owners are already taking drastic measures in anticipation of easing the undecided dilemma.

Here are a few tips worth following to recover or boost patient collections.

Providing more options 

The benefits of practice depend upon the payments of the balance by the patients. That is, the more the patient pay their balance, the more health care personnel will be benefitted out of this.

So, the patients should be provided with more payment options. Providing them with paying cash, check, debit/credit in addition to online payment card besides an online payment portal is among these options.

Setting a standard payment policy

Your practice needs to have a clear and consistent payment policy that patients are aware of and comfortable with. It may be done by

• Providing backing during difficult payment discussions
• Giving the patients a set of penalties for not paying

When your collections staff is trying to collect payment from a patient having a standard policy reduces the patient’s flexibility.

 Ping the patients without annoying them 

There is a fine line between reminding your patients that they need to pay their bills and harassing them.  In case of reminding any collections, the staff needs to be cordial in all interactions with patients. Patients are more expected to work toward payment with someone pleasant, rather than with someone threatening. Send out patient statements steadily and contact patients who had passed their dues on their balances. Remind them of the payment policy that you have.

Communication  

Communicate with your patients before their visits if they have to meet the deductible. It’s better to know the average payment per visit for your top payers and allow the patients to know how they will be responsible for paying at every visit.

If you have an authorized team, the patient collections can go from a frustrating situation to a custom condition very quickly. But, at iatric solutions, there’s a way to make patient collections easy. The dedicated staff handle the patient statements and explain their bills to the patients at the front desk.

That’s what a medical billing company does.  Contact iatric solutions, today for immediate reimbursement.