It’s that time of year again. Time to start thinking about our New Year’s resolutions, and the hopes we have for ourselves and our families in the coming year.
We continually assert that patient account representatives are the essential foundation upon which a healthcare organization’s revenue cycle is built. When representatives are properly trained and empowered, it leads to a dramatic increase in cash flow and patient satisfaction. To create a productive and profitable practice, begin with providing staff with the appropriate training and tools to be successful at their jobs.
Providing the best service and patient care does not depend entirely on a provider's ability or the amount of resources a practice may have. While new technologies are certainly helping physicians improve care delivery, patient satisfaction can be achieved by simply having a friendly and welcoming staff. By creating an environment where there is a commitment to exceptional service, patients will feel respected and appreciated and this will positively reflect the patient's attitude towards paying you. Employee engagement – and a commitment to the company’s values and goals – starts with your practice’s providers and goes all the way down the line to your front desk staff and healthcare accounts receivable employees.
Breakthroughs in information technology are improving work-flow in many different fields, and the healthcare industry is not falling behind. Innovative technological advancements have brought about more efficient ways of collecting payments from patients while reducing the healthcare billing industry’s environmental impact by lessening its paper dependence. Two such developments that are being employed in medical collections are personalized URLs and virtual negotiator software.
Whether you run a large hospital, a mid-sized medical facility, or a single-provider practice, you will find that slow-paying patients will be everywhere and can be a great source of frustration in the healthcare accounts receivable world. In addition to managing slow-paying patients, dealing with patients whose medical debts are unpaid can be even more frustrating because you are unable to contact them for payment. Incorrect or missing demographic information in patient accounts are called skips and often impede the collections process from moving forward. Healthcare organizations facing this problem should consider the benefits of skiptracing – a process that locates missing information on a patient who has either skipped out on their obligation or simply cannot be located.