3 Considerations when switching to automated medical billing
By Jennifer Leon, Vice President of Brightree Patient Collections at Brightree
As consumer trends have pushed businesses towards providing fast, easy transactions and communication, the healthcare industry is finally catching up. Efficiency and security are top of mind for consumer-facing companies when it comes to modernized billing processes, and providers looking to better meet patient expectations should have these same goals.
In the past, providers may have resisted “going digital” for fear of losing personalized communication with patients or being overwhelmed by complicated technology. Here’s the good news: digital automations are increasingly the type of communication preferred by modern patients, and electronic billing technology is more user-friendly than ever. Meaning: if you’re still using paper and post-it notes, it’s probably time to upgrade.
Prioritizing quick, reliable payment processes satisfies patients – but it also improves the health of your bottom line. With the digitized and automated billing strategies, providers can get themselves on track to achieve higher revenue with guaranteed on-time payments and fewer days sales outstanding (DSO). Let’s look at three ways you can use automated billing tools at your HME/DME, Orthotics & Prosthetics, or Home Infusion business to improve cashflow and better serve your patients.
With automatic payments charged to a patient’s credit card, you receive payments on time, every time. By keeping a card on file, you effectively eliminate the time you’d spend waiting for (or chasing) payments on paper bills sent in the mail. Plus you’re no longer responsible for the cost of postage, office supplies, and employee time spent filing documentation and hunting down delayed payments.
The idea of keeping a card on file isn’t necessarily a new one – but how you collect, store, and use patient payment information in 2021 may be new to providers just switching to or updating their digital billing software.
First things first: any credible automated billing software should include built-in measures that ensure the safety of the bank or credit card information you gather. If you’re going to ask to keep a patient’s card on file, you need to be able to guarantee that their information is protected. Most medical billing and collections software programs will include PCI compliant safety features – but it’s always good to double-check before committing to a digital billing partner. Then, communicate your security guarantee to patients to instill confidence in your system.
To provide the highest level of service and build trust with your patient community, you should choose an automatic payment software that includes sophisticated and intelligent workflows that prevent charges from occurring without proper notice to the card owner. The quickest way to lose trust from patients is to surprise them with unexpected – or unexplained – charges.
If you’re looking to create an effective digital billing system that’s sure to be embraced by your patients, automatic payments and excellent communication should go hand in hand. Let’s say you’re keeping a card on file for an HME patient who’s billed monthly for their equipment. Here is what an appropriate automated billing workflow would look like:
- The patient’s information and billing schedule already exists within the software platform, so there’s no need to remember to manually schedule a payment.
- The patient receives an electronic notice 10 days before their payment will be collected, including a digital bill and message that their card will be charged in 10 days. If they have any questions, they can reach out to your office and speak with a real person on your team.
- One more reminder is sent 1-2 days before their card is charged, reiterating the amount they will see collected on their credit card statement.
- Their card is charged for the appropriate amount on the day scheduled.
You receive payment immediately, and the patient was not required to make any extra effort to pay their bill on time. Plus, at no point was the patient left out of the loop or surprised by a charge on their credit card. It’s hard to overstate the effect this workflow can have on your revenue cycle. No more waiting for payments to slowly roll in, and your patients get to enjoy the feeling that you’re doing the heavy lifting for them. A burden is lifted off of both your staff and your patients and replaced by easy-to-use, trustworthy automated communication that all but guarantees you collect more of what you’re owed.
Comprehensive automated billing software should help you achieve more than just automatic payments; it should set you and your patients up for success with multiple digital tools that make the entire payment process a breeze. This includes:
With a patient portal or bill pay site accessed by a secure login, patients should be able to view present and past bills at any time. This creates a feeling of transparency and trust in you as a provider, and means patients no longer have to store and organize paper bills for their records. Additionally, electronic bills offer the opportunity to be clear about what patients are paying for. Many automated billing platforms offer bill customization options that allow you to concisely express what service or equipment patients are paying for, what insurance has paid, and exactly what they owe now.
Digital platforms allow you to increase the amount of personalized communication you send to each patient – making sure no information falls through the cracks. By sending consistent notifications through a dedicated app, portal, or e-mail, patients know exactly where to look for their health and billing information and how to get in touch if they ever have any questions.
Automated billing isn’t the future of medical billing and collections; it’s the present. To keep pace with your competitors and meet changing expectations from your patients, follow the steps above to design a comprehensive and effective automated billing system.
Still have questions about how your business can upgrade or expand your billing capabilities with customized software? Contact Brightree today to speak with a team member about your business and how we can help you reach your goals.
Jennifer Leon, Vice President of Brightree Patient Collections
Jennifer Leon is the Vice President of Brightree Patient Collections, where she leads a team of experts in helping providers collect and retain more private pay.
Jennifer has held a succession of positions enabling her to develop a deep understanding of the private pay collection process, including the best practices for optimal operational performance.
She serves on the Medtrade Education Advisory Council and is a frequent contributor to HME News’ Smart Talk and HomeCare Magazine and to the speaking circuit at national and state shows.
Jennifer Leon Vice President of Brightree Patient Collections
Jennifer Leon is the Vice President of Brightree Patient Collections, where she leads a team of experts in helping providers collect and retain more private pay.
Jennifer has held a succession of positions enabling her to develop a deep understanding of the private pay collection process, including the best practices for optimal operational performance.
She serves on the Medtrade Education Advisory Council and is a frequent contributor to HME News’ Smart Talk and HomeCare Magazine and to the speaking circuit at national and state shows.