6 Strategies that Help Patients Pay On Time
Healthcare costs increase every year, leaving patients to take on more self-pay responsibility. Americans are consistently spending more on healthcare for themselves and their families. What does this mean for your practice or facility? It means more of your revenue comes from direct patient payments.
It can be tough to find a balanced approach to payments that supports your goals and your patient relationships.
Here are six ways to make it easier for your patients to pay on time:
1. Collect what you can during patient visits.
Collect co-pays and other payments upfront when patients check-in for their appointments. Having patients pay their co-pay and deductibles immediately makes it more convenient for patients, letting them get back to their day right after their appointment. This also reduces wait times for patients as they are arriving, checking in and completing paperwork.
2. Set clear expectations when you can.
Let your patients know how quickly they can expect to receive bills from your practice or hospital after their insurance is billed. Giving them a timeframe and letting them know the regular return address will help them spot invoices that can easily get lost in the mail otherwise.
3. Give them a friendly reminder.
Automated reminder calls and emails can save staff hours while giving patients a friendly reminder of their existing balance. Make sure automated phone calls and messages include the web page address or a direct URL for patients to quickly access Online Bill Pay.
4. Make more payment methods available.
Studies show that offering more payment options to patients increases payment volume and patient satisfaction levels. Offering payment methods beyond cash and credit makes it easier for your patients to bring their balance current in a way that’s most convenient for them and their families. For patients with larger balances, offering recurring payment plans or financing through programs like Bill Me Later can help.
5. Simplify your patient statements.
Make sure your patient statements are easy to understand and include a concise breakdown of the services and procedures performed. Gather feedback from your patients and staff ensuring you streamline invoices as much as possible. Make sure the statement includes a clear call-to-action to pay their bill online or on the phone with easily accessible contact details.
6. Make online payments easier.
More patients are paying their bills online. You can save valuable staff hours and boost patient satisfaction levels just by making their Online Bill Pay experience easier. Make sure a Pay Your Patient Balance banner or Online Bill Pay button is clearly visible from your organization’s home page.
Using customized web addresses (example: pay.yourfacilitynamehere.com) can also make it easier to share information for online payments on business cards, statements and over the phone.
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