Today’s healthcare landscape has seen numerous changes as patients are facing increased responsibility for the cost of their treatment. This leaves providers relying more heavily on patients for a larger proportion of their revenue. However, despite these changes, healthcare billing solutions have been very slow when it comes to changing in response. And, this has left patients frustrated by the inconvenient and confusing payment experiences being offered by healthcare providers. An evaluation of billing processes is overdue, and changes need to be implemented to improve the ways in which medical practices engage with their patients when it comes to making payments.
It has been found that one way to increase the amount of revenue successfully collected is to improve the way in which healthcare providers communicate with their patients. Here, we look at some conversations healthcare practices can have that will change the patient/practice payment dynamic.
Keeping Payment Methods on File
Taking proactive approaches to patient payment collections begins by starting this type of conversation early in the treatment process. Practices should consider putting in place a policy of requiring a payment method for each patient to be kept on file. Not only will this simplify the collection process, it will also establish the fact that patients have an obligation to pay for their own share of treatment costs.
Keeping Credit Card Details Secure
Patients are often justifiably worried about having their card details stored on file after hearing stories in the media about data breaches. Healthcare organizations must ensure that all credit card data is stored securely. Nothing should be written down on paper. Encryption is a highly effective way of guaranteeing that all payment details are fully secured and are unable to be accessed or viewed by other organizations.
Patients need to feel confident that healthcare practices are capable of keeping their data secure. One way to guarantee this is to use a healthcare payment provider, such as BillingTree, that is fully compliant with all the required standards, including HIPAA, PCI,, and SSAE-16.
Giving Patients Options
Giving patients plenty of options when it comes to making payments is key. By offering online portals and IVR systems through which they can facilitate payment via their preferred method at a time and place that is convenient for them post-care, you will make the entire process more convenient for your patients, while also reaping the benefits of the addition of new revenue streams..
All patients are different. However, one thing that they all have in common is wanting to know the status of their payments and wanting to have a clear understanding of how and when they have to pay for the cost of their treatment. By beginning those conversations at an early stage, and by ensuring that patients’ payment needs are met securely and conveniently through high-quality healthcare billing solutions, that contain multiple payment channels, providers can show that they care about their patients in every possible way.