Although the healthcare industry is necessary as it plays a major role in keeping well and restoring others to full health, it is also a business. Therefore, it is important that wellness facilities take the necessary measures to make sure that they are profitable so that they can stay open and continue to provide aid to sick people. Here are four tips for generating more urgent care revenue.
Revenue Cycle Management
The first and top tip for generating more urgent care revenue is by improving your revenue cycle management. This might mean more training for your front desk. It includes important factors like greeting every visitor and making sure to check that insurance coverage is active for each patient that is seen. Implementing a system like real-time verification will ensure that your front desk will be able to check insurance coverage and determine what the responsibility will be on the patient before they are seen. Your front desk and the entire staff should be adequately trained in the importance of accuracy when it comes to patient registration and proper coding. When you are able to collect payment at the time of the visit, the less time you will spend trying to retrieve that revenue after the appointment.
Technology has played a big role in healthcare and it makes payment collection a much more seamless and intuitive process. On one side, online scheduling can help streamline and organize systems in your office. On the other side, you can use programs that help calculate payments and quickly respond to patients. Technology also makes payment processing more efficient with systems like electronic fund transfers. Patients are able to use credit or debit cards to quickly and easily make payments with little to no time spent on your part in the office. Slowly growing in popularity is the concept of telemedicine. It helps urgent care facilities expand their reach to patients that aren’t able to physically make it into the facility.
Most adults work during the day, making it incredibly inconvenient for them to take off and come in for an appointment. With extended hours, more patients will be able to come into the office after or even before work. You’ll expand revenue because more people will be able to make appointments. If you do not have weekend or Sunday hours, consider opening during those days as an added convenience to your patients.
The Power of Negotiation
When it comes to generating more revenue, it is not just all about the patients. There are other areas in the office where you can make adjustments to ensure that more of the money coming in will go toward profit. You can negotiate everything, including what you spend on expenses that are not fixed, like the cost of cleaning service, office supplies, marketing, the building lease and other areas.
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