Achieving lasting improvements in patient billing and payment
It’s no secret that complicated billing statements frustrate patients and their families because they create insecurity around two of their most important concerns: their health and their finances. Ineffective statements also greatly increase the perceptions of excessively high-costs and even overcharging. As the impact of consumer-driven healthcare becomes more entrenched, it becomes more important that patients understand the information in their billing statement.
What's in it for you?
Patients who feel confident that their statements are clear and accurate typically will be more likely to pay their bills in a timely manner. Providing clear, concise billing statements not only encourages prompt payment, but also educates patients on their financial responsibilities.
Easy-to-read billing statements can proactively provide patients with pertinent information about their outstanding account and can result in reduced customer service calls and a higher bill payment rate.
Here are a few principles you can follow when striving to make your billing statements more effective:
Be clear: Statements should be designed with the patient in mind with minimal use of medical terminology. Whenever possible avoid abbreviations, acronyms, codes and other elements patients will not easily identify.
Be accurate: Items on the statement should accurately represent the care the patient received. Also, include tips on where the recipient can turn for further explanation and instruction.
Be concise: Include enough details to clearly communicate important account information such as services rendered and financial responsibility. Include information on how they can attain further information.
Be patient-friendly: In addition to being easy-to-read, patient statements should reflect what the patient’s insurance is covering and what the patient’s responsibility is moving forward.
Creating a clear, concise billing philosophy
Implementing the principles to provide patients with clear, concise billing statements can be a complex process. With the rise of consumerism in healthcare, organizations such as the HFMA have developed guidelines to help organize the movement to patient-friendly billing formats. Both providers and patients can benefit from creating a clear, concise billing philosophy. Intuitive billing statements educate patients on treatment rendered and their financial responsibilities while encouraging prompt payment.
Making patient billing clearer is just one of the ways we're Simplifying the Business of Healthcare. Contact us at 877.EMDEON.6 (877.363.3666) or visit us online at www.emdeon.com/pbps.
What Are Your Statements Telling Your Patients?
