Over many years of health care consulting and hands-on experience with many hospitals and clinics, I believe I can make a pretty accurate observation: “Many do not “C”ommunicate their financial policies very well to patients.” While this may not seem like a big issue, it can actually have a tremendous impact on our your bottom line. Bad or no “C”ommunication leaves patients confused, frustrated and un-educated about their responsibilities. This may be one of many reasons for your growing A/R. The good news is that can also be one of the easier things to remedy to help curb your growing A/R and patient payment issues.
If you’re like millions of Americans, the answer to that question is, “I can’t remember!” Yet, many healthcare providers still require patients to use antiquated, inconvenient or cumbersome methods in order to contact, schedule or pay for services.
Tags: Patient Payments, healthcare revenue cycle management, health care payments, healthcare revenue management, patient pay, hospital payments, bill pay service, financial management in health care, healthcare payment
Here are some ideas for how healthcare providers can personalize their services:
Today’s healthcare patient is much more consumer-driven than ever before. Health costs continue to go up, and although there's not much a healthcare provider can do to stop that from happening, there are ways to lessen the pain for patients. Quality care is in high demand, but most patients need care to be affordable since the patient payment portion of their service is increasing.
In our society, many people take their health for granted. But when they have an illness or injury, they place great value on being heard, treated and getting better. Ultimately, healhcare at its core is to provide quality care that leads to better health, but without patient payment, your ability to deliver that care may suffer. So the business side of the patient visit can be equally important to ensure a good outcome. Do your providers and employees truly realize this? Does the staff understand how your growing accounts receivable hinders your ability to continue your mission and retain your employees?
Healthcare is often an easy target for criticism. The public perceives doctors and healthcare administrators are wealthy individuals due to over-charging for services. They see sprawling, beautiful health campuses. All while patients are paying more out-of-pocket now than ever before. The cover story of the latest TIME Magazine only adds fuel to the fire. The “Bitter Pill: Why Medical Bills Are Killing Us” (TIME Magazine, February 21, 2013).