If you want to keep your medical practice well-staffed and functional, keeping a close eye on revenue is a necessity. On top of monitoring revenue, there are certain best practices you can implement that will make collecting payments much easier. Consider using some of these best practices for collecting patient payments in a timely manner.
Teach Your Staff How They Should Talk About Payments With Patients
Your staff should always treat patients courteously and professionally. Patients’ medical conditions will already have them anxious enough, and you do not want to stress them further by making them worried about their payments.
Let patients know that you are sympathetic towards them, and you understand how tough it can be to manage finances. After that, you can gently navigate the conversation towards different payment plans your patients could try.
Improve Communications With Your Patients
Many patients may not understand all their medical expenses. This can cause them to view their medical providers in a bad light. By improving communication with patients, they are more likely to view your practice favorably.
If you have EHR software, you can activate your patient portal to make it easier to communicate with patients. This allows patients to use online messaging to ask questions to your staff, saving staff time on phone. When patients can communicate more efficiently, it will leave them happier with your medical practice. Because of this, the odds are higher that they make payments more quickly.
Collect Payments While Patients Are Still On-Site
If your patient is still on-site, wouldn’t it be simpler if payments were made right then and there? Your medical practice could have a policy made that has your practice gather co-pays whenever the patient checks in. It also helps to have a specified staff member talk to patients regarding their financial balance prior to them leaving your office.
Sometimes, it can be a challenge to motivate your staff. Because of this, it helps to incentivize them with more time off or commissions if they talk about payments while patients are in the office. You can also let staff know that payments from patients influence their salary.
Accept Different Types of Payment
Be as flexible as you can regarding how you collect payments from your patients. Many people use multiple methods for paying their bills. Because people are accustomed to using multiple forms of payment, it only makes sense that your medical practice should be able to accept all of them. Patients love practices that are accommodating, and they will not only be more capable but also more willing to submit their payments on time when they have more options available.
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