Apex Blog

Easy Access to Archived Statements Can Reduce Support Costs and Increase Patient Satisfaction
Jun. 22, 2015 | Posted by Sophie Morelli

Patients who place fewer and shorter support calls are, on average, lower in cost to serve. One way to shorten call duration is to provide support representatives with fast and easy online access to exact copies of patient bills, thereby allowing them to quickly handle questions regarding services rendered and how to make a payment. [...]

The Argument for Increasing Online Billing During the Second Quarter
Jun. 12, 2015 | Posted by Sophie Morelli

Online payments from patients can increase the average speed of collections because they eliminate mail transit and check-processing times. In addition, patients who pay online tend to pay quickly, according to an internal study of payment data including multiple large healthcare organizations: 13% of all online payments were received within five days of the statement [...]

The Future Patient Financial Experience
Jun. 5, 2015 | Posted by Sophie Morelli

The HIMSS Revenue Cycle Improvement Task Force works to clarify the expanding role of patient access during patient-provider financial transactions. In its recently produced infographic, the task force illustrates its vision for future patients financial experiences: “focused on tools and processes that keep administrative cost containment, interoperability and consumer engagement front and center, regardless of [...]

Improving Collections by Offering a Payment Plan
May. 21, 2015 | Posted by Sophie Morelli

Providers can help improve collections by encouraging patients to start paying on a statement, even if the patient cannot pay the whole amount due before the due date. One cost-saving approach—both in helping reduce the number of statements mailed and in lowering write-offs—is to employ segmented variable messaging on patient statements. For example, if an [...]

Choosing the Correct Collections Approach When Pursuing Patient Payments
May. 20, 2015 | Posted by Sophie Morelli

Providers typically send four similar healthcare statements to a patient before referring bills to collections. Based on Apex research, each of these mailings can be optimized by varying the content of each statement based on the patient’s previous payment behavior and expected cash value. These benchmarks allow providers to determine the correct approach – conserve, [...]

You Can’t Manage What You Can’t Measure
May. 12, 2015 | Posted by Sophie Morelli

There’s a common business maxim that says “you can’t manage what you can’t measure.” Sophisticated measurement tools can help hospitals and clinics improve: Collections from patients (both amounts and time-to-payment) Patient adoption of electronic payments and statements (less expensive to process) Other billing-related metrics Patient response rates to marketing promotions included with statements As bad [...]

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