- Patients who understand their bills better are more likely to pay them. Many patients don’t avoid paying bills because they can’t pay; they avoid paying because don’t understand what they owe and why they owe it. That’s why it is important to engage all patients – regardless of treatment – by communicating to them before an appointment the how and why of what they’ll be charged, what insurance will cover, and what their out-of-pocket responsibility is.
- Communicating payment details earlier in the process leads to better engagement and improved collections. Timing is a key element. It is essential that providers capture payment before the patient leaves the office, or else the chances of that patient paying promptly drop substantially. When sending appointment reminders, do not simply ask whether the patient plans to show up on time. Include a link that verifies insurance and demographic information and indicates the anticipated payment details such as charges, copay and effect on patient’s deductible.
- Offering omnichannel payment options that cater to all patient preferences helps build patient loyalty. Communicating with patients on their terms using their preferred communication methods is key to engagement and reducing the lag between billing and payment. An omnichannel approach can include communications and payment acceptance via email, call center, Interactive Voice Response, paper, kiosks, point of service, guest pay, payment plans, and text message.
Healthcare Payment Security: Protecting Patients’ Privacy and Sensitive Financial Data
Faced with a tsunami of exhausted resources, shortened staff, and squeezed margins, healthcare organizations are more vulnerable than ever to cyberattacks and the resulting healthcare