Is your medical practice struggling to receive patient payments? If so, the fact that you have multiple patient accounts that are past due might be more than a coincidence. Instead, the problem could be a direct reflection of poor billing practices. Discover some of the mistakes that could be keeping your practice from the revenue it's due.
Blatant Billing Errors
For most people, the cost of healthcare isn't exactly cheap. For this reason, when a patient gets a bill with blatant errors, it doesn't exactly sit well. Sometimes, it even makes the person feel like they are being taken advantage of. It's important to send patients accurate billing statements to avoid this sort of confusion. A statement that includes a charge for a procedure or test that the patient refused or a charge for an insurance covered treatment are just some examples of errors.
Failure to Follow-up
In some instances, a patient's bill might go unpaid simply because they forgot. The patients that pass through your office have professional and personal obligations, and some of them even have pressing medical issues that can send their focus everywhere else except for on paying their bills. Often, a quick phone call to remind a person of their unpaid bill, or a text, email, or letter in the mail can be enough of a reminder for them to send the payment. If your medical practice fails to follow-up, it doesn't help.
Lack of Options
There are also those patients who want to pay their bills, but simply need more time or need to have the option to pay the bill over time. All patient bills should include information that lets the patient know what types of payment options are offered, such as payment plans. If the statement looks like the fees are entirely due upfront and the patient can't pay 100% of the balance, they might be less inclined to send anything, rather than pay what they can now. For a medical facility to operate, there needs to be a constant flow of cash coming in. Updating the statement to reflect more options can help.
Patient Billing Services
Keep your patient accounts current and the payments rolling in with the help of a patient billing service. Billing firms manage everything from the initial payment request that is sent out to the patient to the follow-up process to the processing of the payment. This hands-on approach helps ensure that your medical practice has a steady flow of income necessary to keep providing patient care at the highest level. Focus your time on your patients, not complicated billing steps.
It's important that you do everything you can to prevent these errors from plaguing your medical practice. Contact a company like Medical Financial Specialists for professional assistance.
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