Make Your Patient Payments High-Performing and Consistent

Posted by Dawn Lunde on Thu, Dec 31, 2015 @ 12:00 PM

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The right approach to collections can significantly boost revenue.

Patient payments are a significant and growing share of total revenue for health care providers and facilities. For that reason, it's critical to maximize the ability of patients to pay their bills and to organize payment and collection efforts to make them as efficient as possible. Providers that have effective, revenue-oriented policies in place and use advanced payment solutions are in a better position to realize consistent, positive results. Here are a few suggestions to help make patient payments at your facility high-performing and consistent.

Engage With Revenue-Collecting Employees and Maximize Their Effectiveness
In its report titled "Developing a Culture of Revenue Cycle Excellence," the Patient Friendly Billing Project encouraged leaders at practices and facilities to engage staff who hold payment and collection responsibilities and provide access to necessary tools and resources. Making sure responsibilities and expected outcomes are clear is the foundation of such an effort, but it doesn't stop there. Health care providers must encourage enthusiasm among staff by providing the necessary platforms for collection and offering access to relevant training and education. They must also simplify the payment process for patients, removing road blocks that can drive down collection rates.

"Collections are far easier when patients have simple options to pay in the office and from home."

Put the Right Electronic Payment Systems in Place
Collections are far easier when patients have simple options to both pay in the office and do so from home. A modern point of service system allows facilities to accept debit and credit cards, making sure patients always have an option to settle their bill in person at the end of a visit. An online payment portal extends easy, automated payments to patients' homes and mobile devices. With so many options to complete payments in place, it's much easier to increase revenue. In fact, facilities using our advanced payment solutions have realized revenue increases between 27 percent and 258 percent.

Acknowledge and Appreciate Success
The right tools, training, people, guidance and analysis can come together to create markedly increased revenue for health care providers and facilities. It's important for leaders to track the performance of revenue collection and highlight successes. This type of positive reinforcement makes employees feel valued and encourages them to put in the same high level of work in the future. The Patient Friendly Billing Project suggests organizing things like in-office meals or group trips to events as a way to both boost camaraderie and emphasize the success of revenue collection efforts.

Tags: Revenue Cycle Management

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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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