Today, patients are reliant on their mobile devices for calendar reminders, email notifications and internet access. Understanding this, healthcare revenue cycle leaders can improve response and collections rates by meeting patients where they are, and allowing them to pay when it is convenient.
This begins with the use of alternative channels to notify patients when payments are due. Patient financial messaging should be a cohesive effort that starts at the point of service and carries through after-care billing. Use of different communication avenues – information at the point-of- service (POS), text message alerts, email notifications, messaging through the patient portal – based on demographic information can reduce paper costs, speed up delivery time, and improve patient satisfaction.
Similarly, providers should provide patients with the opportunity to opt-out of paper statements and opt-in for e-statements. Making sure the enrollment process is fast and easy, with limited steps and pre-populated payments, reduces the likelihood of typographical errors and usually results in the faster collection of patient payments.
Providers may also consider providing convenient options for patients to pay online, using no-login technology. Many patients don’t want to create another username and password to make just one online payment for a rare medical visit. In fact, up to 75% of patients that pay online, choose to make a one-time payment without logging in. If providers don’t provide this option to patients, they are potentially discouraging a large amount of patients from paying their bill online.
Today’s technology provides healthcare revenue cycle leaders with a unique opportunity to improve collections results. Studies have shown that patients who pay online tend to pay significantly faster. Notifying patients of when payments are due, and providing links to fast and convenient payment options, maximizes the number of online payments collected, and ultimately improve the overall speed to collect.