Every medical practice wants to provide excellent care to their patients. However, that care goes beyond the actual medical services that are offered and includes things such as the ease of appointment scheduling, the timeliness of bills, and the clarity of communication. All of these things contribute to the patient experience.
Communicate Clearly and Consistently
One survey found that communication throughout the billing process can have a direct impact on the likelihood of payments. Out of patients who had a good or satisfactory billing experience, 75% had paid their bills in full. Out of patients with a poor or bad experience, only 50% had paid all of their bills. When you communicate expectations clearly and bill in a timely fashion, your collections will improve along with the patient experience.
Be Flexible With Payment
How easy is it for patients to pay their bills when they are due? Are you encountering numerous patients who want to pay with more modern payment methods, such as mobile or web payments, and are unable to do so? Convenient payment methods will make it easier for patients to pay their bills and will increase revenue as well as improve the patient experience.
Improve the Billing Process
Do your patients know what to expect at the time of the appointment, or are they left guessing until they receive an invoice? One recent report by Experian found that 40% of patients will cancel or postpone treatment without an accurate estimate of their financial obligation. By improving your billing process and providing patients with accurate estimates and timely bills, you will help meet their needs.
Schedule Your Revenue Cycle Screening Today
Consult CMF helps healthcare practices look critically at their processes and find new ways to improve for better financial health. Through our revenue cycle screening services, you can improve your revenue cycle management and master the basics that contribute to a thriving practice. To schedule your revenue cycle screening today, call us at (443) 472-6529 or click here.