Revenue Cycle Management Services Should Include a Patient Billing & Collection Protocol

At just about any busy medical practice, it’s easy for a staff to become overwhelmed answering phones, verifying insurance, monitoring appointment times and taking care of patients. Meanwhile, once a patient walks out the door, the cost of collecting payment goes up—and receivables begin to age.

Prompt payment is vital to any practice’s cash flow. Make it a priority for yours by outsourcing with the right professional revenue cycle management organization. An effective patient billing program should employ a comprehensive approach that encompasses more than simply sending statements to patients. The most successful programs include the ability to collect payments over the phone, credit card capabilities, payment plan options, and a dedicated resource acting as an intermediary between patient and office.

The Human Element
People matter in customer service. Professionally managed billing and collection efforts means that staff members can spend more time with patients and less time responding to billing issues. The right service becomes an extension of your practice, with a dedicated representative easing patient stress and resolving payment issues. Here’s what you can expect:

  • Real-time access to open balances to ensure proper payment.
  • Readily available EOBs, for an accurate account of a patient’s financial responsibility.
  • Easily obtained transcripts of a patient’s payment history.
  • An interoffice messaging vehicle that assists with clarification of past conversations between staff and patients.
  • Reduced billing calls to your office.
  • Fewer days in accounts receivable.
  • Getting your practice paid and bringing insurance claims to zero.

A dedicated patient billing service is a proven strategy that boosts cash flow, improves profitability and frees up your staff to better serve patients.

Click here to download a PDF of our dedicated patient billing & collection service.

Contact AssuranceMD to explore how such a program can have a lasting impact on your practice.