There seems to be a continuous influx of industry changes within the healthcare field that makes keeping track of all the latest billing rules and regulations tough to manage. When it comes to medical billing, a practice can either choose to conduct everything in-house, or they can outsource the work to an outside party.
If you are thinking about or have already made the decision to keep the work within your own practice, we want to share some trusty tips that you can use to help you all but guarantee a growth in patient collection so you can be on your way to getting every dollar owed to you for your vital services.
- Have a clear, repeatable collection process
Take the time to lay out the collection process and present it to your employees. Make sure that everyone who has a position within the billing team understands what their responsibilities are.
Whenever you hire a new employee, it is important to get them going on a consistent training process so that they can jump right in and understand everything quickly and thoroughly.
Not only do you want your employees to have a complete understanding of the collection process, but it is vital that you make sure the patient understands as well. When a new patient arrives and fills out intake forms, make it clear to them on the provided document the expectations when it comes to collecting payment. This could keep you from having to deal with issues in the future. Having a policy in place could protect your practice from these types of problems.
- Use the latest in technology
Technology can be your best friend when it comes to patient collections. Having the latest in medical billing software can create a streamlined and vastly efficient collections process, making your job a whole lot easier.
Since we live in a world where next to everything is done online, having your collection systems in an online format is not just important, but it’s a necessity. This online collections option opens the door for things like patient portals which provide an incredible convenience to your patient, and your practice. Your patient could benefit from being able to have easier access to their bills, make appointments online, and have communication with your staff directly. All of this will help lead to a satisfied patient.
- Training & incentives
I’m here to tell you that no one is above providing your employees incentives for being more efficient in patient collections. Don’t underestimate the power of special rewards to members of your team. Establish a certain incentive program to make sure that workers are properly managing every aspect of collections, like properly managing any denied claims and payments.
You can even set up a system so that you can periodically evaluate each worker to make sure they are following certain protocols set in place. Incentives have always been great motivators, and could just help you see a growth in your bottom line.
- Collect upfront
There’s no better time to receive patient payment than on the day of the appointment. It might be wise to set up a precedent to have your patients pay the same day that they come in, that way you are not wasting your staff resources.
Simple changes in phrasing could lead to a more efficient result. For instance, instead of saying, “Do you wish to submit your payment today?” could instead be, “How would you like to submit your payment today?”
Hopefully this information will provide you with the ability to maximize your patient collection efforts, but there’s a chance you still might find yourself needing assistance. American Medical Software can help improve cash flow within your practice with our Medical Billing & Management Software. As part of our UltraCharts™ system, it will save you time and money, and in the process, make your practice all the more efficient.