What does your revenue cycle have in common with an NFL team? At first glance, maybe not much—but take a closer look! Thinking back to the recent Super Bowl game, the Eagles and the Patriots waged one of toughest battles I’ve seen on the football field. They worked hard every second, striving to come out a winner just like your revenue cycle team does as it works to effectively streamline patient collections.
As your revenue cycle team is working hard this year, here are three ways you can block and tackle your way through the frustrating challenges that keep you from realizing optimal value:
- Make the front desk your efficiency play. The front desk is more vital than ever in driving cash collections, preserving patient satisfaction and ensuring responsive customer service. Simply put, for better revenue cycle performance, you need competent, hard-working staff that put patients first. For a strong front-desk approach, enhance the role – and the pay – for front-office team members, and hire workers with strong interpersonal skills, including conflict resolution. At the same time, bringing these linebackers into the center of the patient payment process requires training and cross training so they understand the full revenue cycle process and the important role they play in it. Learn how to cover extra yards in this new payment reality with our eBook: Tacking the 4 Ps: Strategies for Ensuring Front-Desk Success.
- Get more proactive with collections at the front desk. Payers continue to shift financial responsibilities to their covered beneficiaries, so the job of collecting coinsurance and unmet deductibles is another task that can and should be managed at the front desk for greatest efficiency. Putting processes and training in place to give your front-desk teams the skills and confidence to ask for payments when patients come in for their visit is a good way to quickly increase your cash flow and decrease days in A/R. Kick off your effort with tips for improving your collections from our white paper: Patient Collections: Business Critical for Today’s Medical Organizations.
- Take advantage of digital payment and estimation tools that let you provide patients with convenient and online options to pay their bill. This includes solutions that allow patients to pay with a credit card kept on file, or make automated payment plans over time. Estimation tools make it easy for your teams to show patients how much they owe for services for better price transparency. It’s a good way to score with customers, too. By offering payment options that match the convenience level patients are used to in other industries, your organization will rise to meet the demands of today’s savvy consumers.
For more winning plays to help you streamline patient collections and strengthen your revenue cycle strategy, check out our on-demand webinar: Transform Your Front Office Into a Patient Collections Machine.