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Articles & Insights
The Two-Minute Rule
In today's healthcare world, specialists are integral to many patients care. However, when it comes to patient billing, they are often one or two steps removed — and that can have real revenue impacts.
Radiologists and Laboratories, for example, often have an arms-length relationship with patients. That means that the patient is usually referred to them, but rarely develops a relationship with that radiology group or lab. When a bill arrives, patients are less likely to recognize the bill/provider and are less likely to pay.
To further complicate billing, often specialists are sent basic demographic data on patients during a referral, and not much more. Without thinking to capture information that most patients are happy to provide--such as email address--specialists may think they are unable to tap into the most cost-effective and timely billing method: digital.
So what's a specialist to do?
PatientPay has found that 75% of the telephone numbers provided by patients are actually mobile numbers. This allows specialty groups to use text as a digital touch point. And getting a mobile number is about more than just being able to send text statements. You also need to ensure all communications, and the ability to view and pay their bill, are optimized for a mobile phone. PatientPay has found that 33% of specialty group payments are made on a mobile device. Being Apple/Android device-agnostic is also important (though we have found the majority of patients are paying from an iPhone).
Lastly, make sure your bill is as simple and easy-to-understand as possible. Patients who understand their bill are more likely to pay — and pay quickly. Make sure that regardless of how you send the statement, that you offer the patient multiple ways to pay. People are bill payment omnivores now: they are comfortable using a variety of payment mechanism to pay various bills--at all hours of the day and night.
If you'd like more information about how PatientPay can help increase your collections, while also reducing billing-related costs, let us know!
