Ways to Increase Patient Payments via Automation, eStatements and Other Techniques
Solid guitar chords. More make-up than you can find at the Macy’s counter, and more buns than you’ll see outside the American Ballet Theatre. Robert Palmer’s Addicted to Love song and video are classic 80s. They can make you think: Back then, people were love-addicted. What’s our addiction?
In one word, technology. One study shows the average cell phone user checks his or her device 150 times per day. Another poll reveals 84 percent of respondents are addicted to their phones and “can’t go a single day without them.” Some less drastic facts: When paying bills (all bills―not just medical), 7 in 10 consumers say providing multiple ways to pay their bills increases their satisfaction, which is 43 percent more people than two years ago. And 66 percent of consumers indicated that electronic bills increase their satisfaction with the biller.
Facts like these are important to know when developing your patient payment strategy. Technology is a game-changer for the entire patient payments continuum, from a pre-visit reminder of what patients will owe at their appointment to post-service electronic statements (eStatements) and automated payment plans. As you evaluate how your patient payments process can be improved to create a more financially healthy organization, look at processes, technology and how the two work together.
Ready to learn more? Read the eBook, Patient Collections: 12 Strategies for Success today!