Tag: Patient Collections

Medical expenses are often a source of anxiety for many patients, whether they are unsure about the amount owed or how they’ll ultimately pay for it. Unfortunately, intimidating collections processes don’t help, and a crisis like COVID-19 only exacerbates this stress. A more compassionate billing approach could help patients better navigate their financial obligations and also build long-term loyalty—a necessity for providers today looking to retain patient volume during a time of crisis. Consumers overwhelmingly want to understand the cost of healthcare services, prior to services being performed. Effective price transparency involves offering patients clear, accessible, and easy-to-understand estimates of their financial responsibility for services before they are performed. Give patients clarity from the start with precise pricing estimates and up-front info about what they’ll have to pay can reduce sticker shock, help them plan and create an overall better patient financial experience. By empowering your patients with financial expectations, their feeling of control increases, improving their engagement and the likelihood that you will collect payments faster and more efficiently. Just as you don’t provide identical medical treatment to every patient, processing all patient accounts the same way doesn’t make sense. Every patient is different. Using comprehensive data and advanced analytics, providers can better understand an individual's propensity to pay and make the payment process a positive one by assessing and assigning each patient to the appropriate financial pathway based on their unique financial situation. Medical bills are often the most direct contact providers have with patients after a service is rendered. Unfortunately, money is often a sensitive topic for patients and statements are often overwhelming and difficult for patients to read. Tailoring communications at each stage can convey compassion and increase patient satisfaction. Customizing patient statements gives providers the ability to simplify and customize bills quickly and easily, turning an often confusing process into one that adds value. Including relevant, personalized messages and educational updates can turn billing statements into a useful resource, all with the potential to drive revenue. In addition to offering personalized payment options, providers can also find out whether a patient prefers to discuss billing by phone or email. Minimizing friction at the point of payment is crucial to fostering compassionate collections. Providers should offer flexible options that include in-person, telephone, mobile and online patient portals, so they can pay in a way that’s most convenient for them. This also frees up staff to help those patients who may need a little extra help understanding their statement. Want to learn more? Check out Experian Health’s Collections Optimization Manager which helps providers segment patients based on an individual’s propensity to pay and payment preferences, informing a compassionate patient engagement strategy and improving collections.

There’s a phenomenon in online product reviews where the customer seems to love their purchase, yet gives it only one or two stars. Why do they do this? Poor customer service: the item was delivered late, questions went unanswered, or payment processing was disorganized. When the consumer experience falls below expectations, the brand suffers – no matter how good the product. The same thing happens in healthcare. The clinical care may be outstanding, but if the patient finds billing frustrating or confusing, it’s those feelings they’ll associate with the overall experience. Many healthcare providers suffer reputational damage because the patient financial experience fails to match high quality clinical care. This is especially true for patients who find themselves without coverage and in need of financial assistance, which is often an extremely stressful process. And with unemployment levels soaring as a result of the coronavirus pandemic, it’s likely more Americans will need to explore eligibility for charitable support. Finding smarter, speedier and scalable ways to check charity care eligibility is even more important. Using automation for faster charity care checks Automation may be the answer. With a system that runs checks quickly and easily against vast databases of up-to-the-minute records, providers can discover a patient’s propensity to pay before treatment is even carried out. Clarity from the outset ensures the patient is put on the right payment pathway and lays the groundwork for a positive patient financial experience. Caye Mauney, Patient Access Director for Palo Pinto General Hospital, tells us how her organization used data-driven financial clearance checks to improve the patient financial experience and reduce bad debt: Speeding up checks for earlier eligibility decisions Prior to using automation, Palo Pinto General used a time-consuming and labor-intensive paper-based process to determine a patient’s eligibility for charity assistance. But with automated screening prior to or at the point of service, the hospital can now verify whether patients qualify for charitable assistance within three seconds, and quickly connect them to the right program. For those with a self-pay amount, a Healthcare Financial Risk Score can be calculated using historical payments information and credit history, to help determine the optimal payment plan. Mauney says: “All the information we need is now at our fingertips. The patient no longer needs to bring in check stubs or go back to a former employer to ask for information. It’s been a game changer.” Creating a personalized patient experience At Palo Pinto, staff wanted to make sure that patients were taken care of not only medically, but financially too. Just as each patient needs medical care tailored to their individual needs, so too should their financial accounts be handled on a case by case basis. With custom payment plans based on an individual’s unique financial situation, the payment process can be transformed into an experience that patients no longer dread or avoid. Automated patient clearance checks draw on multiple sources of data and run analytics to quickly determine the best option for each patient. It can also generate scripts for patient advocates to use, to help patients navigate the process more easily. Palo Pinto reports improvements in patient satisfaction and trust as a result of uncomplicating the patient experience in this way. Reducing bad debt and increasing point-of-service collections Seamlessly connecting patients to the right financial assistance program allows patients to focus on their treatment, while feeling reassured that their financial obligations will be met. For providers, swift processing means decisions are made quickly, resulting in fewer accounts receivable delays and a lower risk of uncompensated care. At Palo Pinto General, quicker charity applications means more are being approved, and therefore not written off as bad debt – ultimately helping their bottom line. Discover how automating checks for charity care eligibility with Patient Financial Clearance can help your organization increase productivity, improve collections and boost patient satisfaction.

The novel coronavirus pandemic crisis of 2020 has plunged the healthcare system, and frankly the whole economy, into a dark place. It will take time, and likely a lot of time, to overcome what may end up being several months of a national shut down. Eventually people will re-emerge from isolation, business will resume a new normal, and healthcare providers will turn their attention to the revenue generating services that they temporarily halted, as well as the patients who delayed care for a myriad of conditions. The Centers for Medicare and Medicaid Services (CMS) recently published “phase one” re-opening recommendations that recognized in some areas the possibility of non-COVID-19 care is already being considered. There will be an overflow of pent-up demand and provider organizations need to position themselves now to be ready. One consideration, with many health systems now feeling the squeeze and not being able to re-deploy staff to serve in the crisis, is to use some of those resources and prepare for the next phase.  Here are few strategies to get ahead of the curve, if you will, as it flattens: Reschedule appointments – Literally hundreds of appointments– for some providers, thousands – that had been cancelled or delayed will require rescheduling. Deploying an omni-channel scheduling platform now can relieve the pressure of that future volume in several ways: Online scheduling can guide patients to the right care with rules automation, allowing patients to accurately self-book and reducing call center volume.Enable patient scheduling via automated outreach messages sent via text message or IVR. (For example, you can target all those who need to reschedule, reaching them via text campaigns and reducing call center workload).Reduce training time with a call center scheduling solution. Agents (such as temps hired to handle the influx of appointments) can be trained in a matter of hours to schedule and book appointments accurately.Harden your telehealth offering – This crisis has shown the necessity for virtual visit technology during a pandemic; however, its value won’t disappear as the crisis fades. Telehealth is destined to become a staple of healthcare delivery. Restrictions have been lifted and the technology has proven practical, convenient and efficient, paving the way for broad acceptance. But what are the digital complements that can be paired with telehealth to harden the solution and make the offering a robust tool into the future? While many providers are now able to offer this type of virtual care, scheduling across a variety of specialties has become a challenge. A  tool that guides patients and call center agents to the right provider across all services, including telehealth, is going to be critical in the months ahead to maintaining scheduling efficiency and delivering an optimal patient experience.Establish your digital front door – Patients aren’t going to want only clinical telehealth options; the whole spectrum of patient-provider interaction is shifting. Scheduling, registration, payments - all these are going to see increased demand for digital self-service. This gets patients out of the waiting room and removes the need to swipe or insert a credit card or use a POS kiosk. Patients, who are consumers, want to use their mobile devices and they will form lasting opinions of those services enabling – or restricting – their ability to do that.Collections optimization – Right now the focus is on caring for patients, as it should be; however, in order to continue operating, providers must collect for the services rendered. Putting in systems that automate collections processes and reduce the human resources necessary to bring in revenue will to be key to capitalizing on the rush of non-COVID-19 care that will soon be required. These are just a few of the ways that healthcare providers can deploy digital technology to prepare and turn this looming challenge into opportunity. The reality is that managing patient engagement and collections through this next phase is critical to the U.S. healthcare ecosystem’s recovery. Organizations that emerge stronger will be those that prepare now and are ready when the time comes. Find out more about patient engagement solutions that can help you respond now and prepare for the future.

From the moment a patient is admitted, automation strategies can help devise payment plans, find missing coverage, or screen for financial assistance and charity eligibility.

The Cerner Consumer Financial Engagement suite is powered by Experian data to optimize the billing process for both patients and providers.

Data-driven technology that automates, simplifies and unifies the revenue cycle can ensure timely communication between healthcare providers and insurers.

Experian Health acquires Mayan to evolve core revenue cycle management capabilities and enhance the patient experience with digital coordination solutions.

Through an automated, data-driven process, Blessing Health is now able to provide personalized patient estimates that are 80 percent to 90 percent accurate.

Many healthcare organizations fail when it comes to optimizing their collections strategy. Here are three common misses, and how they can turn it around.