Call it good business, or simply good karma. Hospital systems that commit to putting their patients first in financial communications can improve patient satisfaction and their bottom line. Here’s a look at why these investments lead to better financial outcomes.
Investment: Patient-friendly statements
Outcome: Fewer customer service calls
Historically, financial communications in this industry have been provider and payer centric, meaning the language and structure of statements and documentation were geared toward trade audiences. Little consideration was given to patients who might need to review and interpret payment-related materials in order to take action.
Today, more patients are directly responsible for at least a portion of the payments required for their care. By improving billing statements so patients can make sense of costs and payment requirements, providers eliminate barriers to collect. Patients who understand what they owe and what they’re paying for are more likely to pay promptly and in full. Likewise, they’re also less likely to require customer service support, reducing staff workload.
Investment: Automated, third-party billing distribution solutions
Outcome: Faster collections process, reduced busy work for staff
With the overwhelming volume of outbound billing statements, the traditional ‘print, fold, stuff and stamp’ mailing process can become a burden to staff and a barrier to prompt payment collection. Proactive healthcare organizations that are focused on improving the revenue cycle are no longer in the mailroom business; instead, they partner with vendors that can quickly and accurately disseminate billing statements.
Today’s third-party billing solutions easily alleviate the tasks of statement mailing. These state-of-the-art bill printing and distribution services absorb all the conventional, time-consuming tasks associated with mailings, eliminating the need for internal staff to handle the paper shuffle. These services receive billing data electronically from hospital systems and, using modern automation, print and mail statements expediently. This means patients get statements more quickly, aiding in faster turnaround time for collections.
Investment: Address scrubbing solutions
Outcome: Minimized staff labor & better patient communications
Outdated mailing addresses— and manual processes for handling undeliverable mail— can become real impediments to collecting payments.
Hospital systems investing in patient friendly practices integrate address correction services into the core of their statement mailing processes. By outsourcing these services to a qualified third-party vendor that integrates address cleansing technology, providers automatically collect and correct more bad addresses greatly improving the accuracy of patient address lists. When patients receive billing statements promptly, they are able to pay and more quickly interact with their providers as needed.
Ready to do right by your patients and your hospital system? Look to Emdeon ExpressBill Services as the single source for your patient billing needs.
Emdeon ExpressBill Services provides comprehensive solutions to better manage the patient billing process. From the creation of easy-to-read patient statements to the integration of automation throughout the billing process, Emdeon ExpressBill Services streamlines all aspects of patient billing, making it friendlier for patients and easier for you.
Ready to improve cash flow by automating your outbound statement printing and mailing? Call 877.EMDEON.6 (877.363.3666) or visit us online to learn how Emdeon ExpressBill Services can improve cash flow through prompt, easy-to-understand billing.
What's Good for Them is Good for You: Discover How Your Organization Stands to Gain from Patient Friendly Billing Practices
