Healthcare Billing Upgrades for a Personalized Patient Experience
In today’s healthcare climate, adults of all ages are avoiding medical care more than ever before. Between insurance or billing confusion and the general inconvenience of scheduling and attending appointments, consumers are putting off treatment for existing and new conditions. In fact, 52% of surveyed patients skipped medical treatment during 2020 due to Covid-19 concerns, while nearly 42% avoided treatment for other concerns not related to Covid-19.
If the staggering percentage of adults avoiding medical treatment fails to decline in the near future, we are likely to experience a surge in deaths related to chronic conditions that could have been prevented with proper treatment. Also, dwindling patient volumes creates various business-related issues for medical practices struggling to keep their doors open.
In order to help patients feel comfortable re-entering the healthcare system, many medical practices are implementing technology-based communication and billing solutions that allow patients to customize their own experience. Doing so ensures that each type of patient receives the information they need through their preferred medium, whether that be through a text message alert, estatement, or a classic mailed statement. An integrated statement and payment system with various payment options further simplifies the process, helping to reduce stress for both patient and practice.
Digital Communication and Statement Options
Paper mail and phone calls are quickly transitioning into outdated communication methods. While mail prolongs communication by days and can be easily lost, phone calls are highly ignored and seldomly returned. Most adults, especially those under the age of 60, prefer digital communication tools that deliver information immediately and require minimal time and effort.
Text Message Reminders
Did you know that 90% of text messages are read within three minutes of delivery? Text messages are one of the most effective ways to communicate because they can be read in nearly any environment or at any time, whereas other communication methods (like a phone call) pose challenges with timing and availability of the recipient.
Healthcare systems are turning towards text message communications to remind patients of a scheduled appointment, send alerts regarding hours or special Covid-19 announcements, and even let the patient know when their medical bill is ready. Interactive text alert systems allow patients to confirm appointments or pay their financial obligation through a text response, only taking minutes of the patient’s time.
eStatements arrive in the patient’s inbox instantly and provide resources within for the patient to access customer service if needed, or link directly to a payment portal that allows the patient to pay their obligation via their own preferred method.
Simply providing the option for patients to receive text message alerts or eStatements in addition to or instead of paper statements helps give autonomy back to the patient during their healthcare experience. Communicating with patients via their preferred channel ensures they receive the message quickly and helps encourage a prompt response.
Multiple Payment Options
Today’s consumers are used to various payment options in nearly every monetary transaction and will typically select the choice that provides the most convenience at that moment. Healthcare systems are finally catching up to this trend and have begun offering payment options like mobile payments, text-to-pay, QR code scans, and credit-card-on-file-enabled payment plans.
These technology-enabled payment methods increase flexibility for the patient, allowing them to make payments in the way they feel most comfortable. While some patients may still prefer traditional payment methods like mail-in checks, others can select a quicker method like a secure QR code scan. Providing various options ensures that each patient may customize their own solution based on their individual needs, helping to increase patient satisfaction and engagement while reducing customer service requests.
Integrated Billing and Payment System
In order to offer the most effective and streamlined billing process, medical practices are upgrading their billing strategy to include an integrated statement and payment system. Doing so allows the practice to manage all statement communication and payment functions within one interface, reducing time and resource needs.
An integrated system serves to simplify the entire billing process for patients because they can access their payment directly from both their paper billing statement or eStatement and save their customized preferences for future healthcare visits. Implementing one seamless system reduces touchpoints, maximizes efficiency, and helps collect revenue faster.
Taking advantage of an integrated billing and payment system that provides patients the ability to customize their communication and payment preferences helps improve patient engagement and satisfaction while also reducing costs and resources for the medical practice.
MailMyStatements is a technology-driven statement and payment vendor that helps medical systems upgrade and integrate their billing system, resulting in satisfied and engaged patients while reducing operating costs and resources needed to manage revenue cycle functions. Get in touch with us today to learn more about our complete billing system!