Healthcare Uncertainty Increases Importance of Capturing Patient Payments More Than Ever

Posted by Nick Dolan on Tue, Aug 08, 2017 @ 08:31 AM

A variety of health insurance concerns mean providers have to be especially cognizant of how they capture patient payments.
A variety of health insurance concerns mean providers have to be especially cognizant of how they capture patient payments.

The health insurance industry is in a time of evolution, both from changes in the last 10 years, and the next 10 yet to come. Through the shift in presidential administrations between the last three terms, there has been repeated efforts to repeal or significantly change the healthcare insurance landscape. From administering the Affordable Care Act, to modifying and attempting to repeal or replace it, changes have left providers on the edge of their seat, trying to manage it all.

For healthcare facilities, all of these factors combine to create an environment where patients could easily face a significantly different health insurance situation year after year. It's up to vendors and providers to continue to provide solutions that effectively capture patient payments and maintain a steady revenue stream, despite all the changes.

A Rapidly Changing Environment for Healthcare

"The end result is a reliable solution in an uncertain environment."

There are so many changes in healthcare that it can be hard to keep up. With the ACA significantly changing the way providers and payers operate, there are even more changes to learn about and act upon. Many facilities had to make significant changes to administrative processes following the implementation of outcome-based payments for a variety of services covered by Medicaid. Plenty of other elements of the law required similar responses. In some cases, providers are still adjusting to the new normal.

The repeated efforts of the current presidential administration and Congress to remove the ACA adds another dimension of uncertainty for healthcare providers. That situation could lead to coverage changes for millions of Americans and have a significant impact on how a percentage of patients at nearly every organization pay for the care they receive.

Providers Have Options to Enhance Payment Capacity

While major changes in the market may require a response from providers, they aren't insurmountable problems. What can facilities like yours do to keep up? These three improvements put providers in a better position to continue moving forward in a positive direction:

  • Implement a patient payment solution that gives your staff the tools necessary to easily and effectively capture revenue.
  • Help patients pay their bills. Eliminate situations where patients are able to pay but don't have the right method to do so.
  • When necessary, offer options to patients that allow them to pay their bills over time - without your facility entirely losing out sending to collections.

Secure Bill Pay offers providers the solution that removes roadblocks to capturing revenue. With tools like account on-file and recurring payment plans, your facility gives patients flexible options without reducing the reliability to which you capture revenue. With a single, unified platform for managing patient payments, your facility gains more insight into all aspects of operation, from point-of-service payments to reconciling and refunding. The end result is a reliable approach in an uncertain environment.

Tags: Patient Payments

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Testimonials

  • "We have so much more information available to us with SBP than with our previous service. It's offering our patients more flexibility, and happier patients are much more pleasant for our Billing Office to deal with."

    - Kurt A.
    Revenue Cycle Manager
    National Imaging Center
  • "The staff at Secure Bill Pay have been an excellent revenue cycle partner in assisting us with setting up our processes, helping us review and analyze our results and identify opportunities at our various locations. They partner with us to identify new solutions and services as we have grown. The reliability for payment processing has been very good and our requests for Customer Support are handled very timely and thoroughly."
    - Kathleen J.
    Central Business Office Manager
    Multi-Hospital & Clinic Health System
  • "Our volume of patient credit/debit card payments increased by 44% in the first month of the service compared to that same month a year prior (with the same patient volume). We attribute that to now having online bill pay and better ability to collect at the POS for all of our locations [where we had not been before], even the outreach sites!"
    - Terry M.
    Practice Administrator
    Orthopedic Spine Surgery Group
  • “I’ve been shocked with the success of the online bill paying program... Patients come to us in acute health care situations. Bill paying is not their highest priority. We didn’t expect so many patients to use Secure Bill Pay so quickly, but the statistics speak for themselves.”
    - Beth M.
    VP Revenue Cycle
    Large University Health System
  • "Before Secure Bill Pay, online bill pay only accounted for one percent of our payments. After just six months of using Secure Bill Pay’s no-login solution, that number reached 10 percent."
    - Jen R.
    Finance Manager
    Large Ophthalmology Practice
  • “The nice part about Secure Bill Pay is the breadth of tools available to manage the entire patient pay process. But the best part is the outcomes we’ve seen, including year-over-year double-digit increases in patient pay revenue that are not wholly due to industry or volume changes.”

    "The integration with our PM/EMR software is simply icing on the cake."

    - Steve M.
    Director of Business Services
    Large Integrated Health System
  • "Senior Management is thrilled with the numbers coming through due to our implementation of Secure Bill Pay."
    - Kim W.
    Business Office Supervisor
    Inpatient & Outpatient Psychiatric Facility
  • "The system was received with open arms at each clinic. All had a few questions at first, but as you said, it was simple to get comfortable."
    - Sue C.
    Practice Manager
    Large Nephrology Practice
  • "Secure Bill Pay has streamlined our credit card process. It has been beneficial from a processing end to a storage and search of record end. Certainly saves us time!"
    - Jackie F.
    Business Office Manager
    Dematology Practice
  • "It is easy to talk about a product and service we are totally happy with!"
    - Cheryl M.
    Practice Manager
    Mid-size Ophthalmology Practice
  • "We're impressed. Thank you for not being afraid of any question we may ask and answering it in a straightforward manner. This gives us more confidence."
    - Grant E.
    Revenue Cycle Manager
    Large Dermatology Clinic
  • "Secure Bill Pay  is a much more efficient option for collecting patient payments... It is a forward thinking approach for healthcare revenue. Dynamics have switched where we all need to think and act like a business versus a service."

    - Julie H.
    Director of Business Services
    Large Physician Group

     

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