Making Patient Payments a Priority in an Uncertain Healthcare Climate

Posted by Dawn Lunde on Wed, Mar 29, 2017 @ 08:31 AM

Proposed healthcare changes in the U.S. could have a major impact on your patients.
Proposed healthcare changes in the U.S. could have a major impact on your patients.

Soon after making  adjustments related to the enactment of the Affordable Care Act, healthcare providers may have to go through a similar process. Although the future of the repeal and replace plan for Obamacare is uncertain to say the least, the actions taken by some politicians indicate a substantial level of support for major changes.

Whether a new plan is eventually submitted and Obamacare is repealed or the existing laws are altered, there's a strong possibility that providers will have to deal with a host of regulatory changes. Additionally, there could be a significant dip in the number of insured Americans.

Millions of Americans Could Lose Coverage

According to statistics from the Congressional Budget Office and the executive branch's Office of Management and Budget gathered by Politico, proposed changes to the ACA could eliminate coverage for between 24 and 26 million Americans. Those projections are based on a repeal and replace plan, with a new approach to healthcare eventually put into place. If a strategy is used to change the structure of Obamacare, or a different proposed bill ends up being put into law, the number of affected citizens could change.

Even if the projected numbers are reduced by 50-75 percent, the impact on healthcare providers could still be significant. Depending on the demographics of the patient base a facility cares for, the possible changes in policy could differentiate how many patients are insured. Even for facilities where most patients don't use ACA-provided coverage, properly dealing with any newly uninsured patients has to be considered.

"Providing enough tools allows your patients to pay stress free."

How Your Healthcare Facility Can Adapt and Succeed

Working with patients who don't have insurance can be especially difficult, as providers try to balance providing care with the need to be compensated for their work and avoid debt. It doesn't have to be impossible, however. Giving patients the tools to pay their bills and manage financial responsibility can go a long way toward making this complicated process more straightforward. It also ensures your facility isn't threatened by a growing accounts receivable.

Which aspects of patient payment solutions can help? All of them. Using online self-service payments as a tool to collect more revenue in general. Statistics from our own clients show about 44 percent of online payments arrive outside of regular business hours, and nearly a third of all patient payments are obtained online by facilities that use this tool.

Making it easier for patients to pay can help smooth over issues with insurance. Pre-authorized patient payment plans give patients more time to pay while making sure your facility receives the entire amount it's owed. By giving patients more time to pay while ensuring payment details are accurate and automatically processing those transactions, your facility strikes an effective balance between its needs and those of the patient.

Tags: Payment Strategies

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  • "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
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    - 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!"
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    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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