Providing the finest quality healthcare service to patients is the topmost priority of providers. Owing to high deductible health plans there is a notable increase in patient financial responsibilities.
A sheer rise in patient collections responsibility can be obtained by modifying the process of medical billing by the healthcare providers. Revamping the revenue cycle management strategies and to enclasp the idea of patients as potential consumers must be the prime focus for providers to enhance their rate of collections.
Patient Registration – From the entry until the exit of the patient along with their complete and substantial information must be carefully noted along with the proper insurance information.
Ascertain the payer responsibility – Checking if the services provided are covered by their insurance provider is paramount. Also determining the eligibility of the patient’s coverage information is important.
Admission & Discharge of Patient – It is crucial to log in each patient at the time of their admission with all the relevant information. During discharge ensuring that the patient has made all the required payments and forwarding their complete information to the medical service coder for further patient collections process.
Medical Claims – As soon as coding is done for the bill, a claim is prepared and filed. Ensuring that the claim is complete and error-free is paramount.
Submission and Tracking of claims – There is a specific format for submitting the claims. The payer responds on submitting the claim with confirmation of services covered for the patient.
Patient Statements are initiated – A statement is issued to the patient when the payer receives a response, and a confirmation is made about which payer is responsible for the payment.
Payments and collections – This is the final step where the payments are managed.
Self pay collections can be effective by following the below steps:
1. Adopting patient-focused communication procedures to make sure that the patient has a clear understanding about their medical costs.
2. Making payments easier by providing innovative payment options for the patients such as sending a SMS (Short Messaging Service) to pay.
3. Fine assistance to be offered to the patients and providing them with immediate answers for their queries escalates the patients’ experience level favourably.
4. It is vital to explain clearly about the various payment options to the patients.
5. Automated call tracking and recording can be used for efficient follow up on quicker and smooth self-pay obligations.
On-the-Spot Services Payments efficiently assist in patient collections by procuring immediate payments while providing the services. The front desk staff must be trained to skilfully communicate the cost for the services provided and ensure to make instant collections.
Credit Card Payments are undoubtedly effective in today’s age. Improved and efficient patient collections can de obtained by the front desk staff through credit card payments with the help of integrated software solution. Patient collections can also be amplified by providing the patient portal with credit card payment facility with the help of this integrated software solution.
Outsourcing the Arduous Patient Collections frees up the time wasted on patient collections responsibility. With their effective Patient Collection Strategies, they lift the burden from the provider and efficiently collect the complete payments on time and relieve the healthcare organisation staff from this time-consuming task.
Managing the Claims and Denials is made easier when the provider chooses a service providing partner for their Collections Patient Responsibility. They ensure to have clean claims and help in avoiding claim denials thereby increasing the revenue. Higher the clean claim rate the more optimized are the payer reimbursements.
Business Integrity Services follows a comprehensive Patient Collections Process to assist you with swift and precise medical billing and patient collections. Our enhanced Patient collection strategies help to save your time and drive your revenue. If you want to opt for the best, choose our services and enjoy the favourable outcomes.