Patient Payments: The 6 Steps

80% of all practices struggle to collect patient payments. In fact, one of the most significant sources of income loss is the unconscious sliding of patient balances. A small practice has an unpaid patient balance of $40,000 per year. Does this suggest that the patient dislikes paying? The answer is a big no.

95% of patients want to pay the provider that cared for them, yet why do we have huge balances?

The explanation lies in each practice's inability to collect patient responsibility or, at the very least, communicate it to the patient during the visit

Here are few ways to collect faster from the patients:

1. Streamline: Insurance Verification and Benefits
2. Offer: Patient Education and a rough estimate of the patient
3. Provide: Flexible Payment plan
4. Technology: Use technology to reach out (SMS/emails/Phone)
5. Internal Audits: Conduct internal audits to prevent claim errors and refunds
6. Optimize Staff: Train your staff on the best practices in patient communication

Let me know if you need any help. Else. Thanks for reading.