Billing Experts Share Secret to Successful Patient Collections

Collecting money from patients is nobody’s favorite activity, but unfortunately, avoidance not only hurts the practice and may put it out of business, but it also hurts the patient. Studies show that patients will ignore their healthcare if they have an accumulated debt or are upset about a bill they don’t understand. Instead, it benefits everyone to implement successful patient collections as an easy and comfortable part of the process of healthcare, and there’s a key to making that a reality.

In a recent Medical Economics article by Kareo’s billing subject matter expert, Terri Joy, and healthcare business consultant, Aimee Heckman, they share the real secret to successful patient collections -  patient engagement - a process that should begin way before and continue after any bill is ever presented. It makes sense that patients will make a greater effort to pay a practice they feel cares about them and their health and works hard on their behalf.

It means that the practice staff is not only personable and friendly, but also has developed a system that employs people and technology to make it easy and clear. This helps the patient to understand what they will owe so they’re prepared, and then provides clear instructions and multiple opportunities to pay. How a practice can easily set up a fully realized patient engagement process that leads to simplified patient collections is addressed in the article.

Today’s high deductible health plans often leave patients responsible for a greater percentage of their healthcare costs. With that greater responsibility comes greater expectations. Successful practices understand that meeting patient expectations and having successful patient collections starts before the first appointment is made. It extends through the clinical care process, resolves with clear billing and easy collections, and continues the next time the patient needs to make an appointment– all positive interactions that keep the patient returning to the practice.

Read the full Medical Economics article, “Getting Paid Begins with Patient Engagement,” to learn more. For information on how to boost your patient collections, visit us at Kareo.com/patient-collections.