Informative and clear patient statements enable faster payment
With so many job losses and business closures in 2020, many households found it difficult to pay their bills. But is it possible that in the healthcare sector, financial problems are not the only reason why patients don’t pay their bills? And how could your healthcare organization speed up the payment process? Enhance the patient experience – improve patient statements!
An article published on Health Leaders argues that the bill itself can stand in the way of getting payment on time. This is attributed to the patient not understanding the bill or not knowing how to raise queries.
According to the referenced study, common reasons for patient non-payment include:
- Assumed their insurance would pay
- Unclear how much is owed
- Not sure when payment is due
- Felt the bill is incorrect
In all of the above, a payment delay could have been avoided by providing the right information to the patient.
Healthcare statement design & clear presentation of data can reduce payment delays
Reduce payment delays by improving the presentation of billing information, as well as by including clear instructions on the steps required to settle the account.
Patient bills and statements should include the following information in a prominent position:
- Who is responsible for paying the account? Indicate clearly which amounts are due to be paid by the patient and which amounts are covered by the insurance provider
- What is the amount due ? Clearly state the exact amount due
- When is the payment due date? Indicate the final date on which the account must be settled
- How to submit a query – provide contact details and advice on how to raise a query relating to the bill
- How to arrange a payment plan – in these economically challenging times, it would also help to include a section guiding patients that are having financial difficulties on how to request a payment plan.
Reduce the stress associated with paying bills through communication
With all the added stress and anxiety brought on by COVID-19, the one problem patients don’t need is a statement that’s difficult to interpret. A well-designed patient statement that provides information in a clear manner, will avoid payment delays due to lack of understanding, and result in a better patient experience.
However, concerns about the complexity of managing data and statement composition are valid, especially considering the regulatory requirements within the healthcare industry. This is where outsourcing to a vendor with data, security and healthcare experience is a great option. Let the outsource partner worry about data management, compliance audits and security certification.
Doxim’s patient statement solution helps healthcare providers improve time to payment while delivering a great patient experience. SPEAK TO A CCM HEALTHCARE EXPERT TODAY