Posted on June 18, 2018 in General
There is an old saying in billing that self-pay equals “no pay”.
While it is still very hard to collect from patients, there are some things you can do to increase the odds of payment.
The last thing you want to do is make it hard for your patients to pay you.
If you are lucky enough to have a patient who wants to pay, you have to make it easy.
Here are some suggestions for making payment collections easy:
Experience has shown that the old method of sending statements one through three concept is passé.
Each patient contact needs a specific purpose and should gradually ramp up the pressure to pay. Some people are finding success in sending as few as one notice and then jumping immediately to a pre-collection letter.
ImagineSoftware has a new artificial intelligence (AI) tool that helps determine the likelihood of patient payment based upon online credit and past history. They provide a predictor of payment, then allow you decide how far you wish to go in the collection process.
Why spend good money chasing someone with no likelihood to pay?
It makes sense to make phone calls to high dollar accounts. However, as a rule of thumb, it is not cost-effective to go dialing for dollars.
Robocalls have been a cost-effective way to contact patients about open balances. The problem is that the FCC ruling on robocalls creates some legal risks for pursuing patients in this manner.
You need to obtain prior express written consent from consumers before robocalling them. The FCC has stated, “persons who knowingly release their phone numbers have in effect given their invitation or permission to be called at the number which they have given, absent instructions to the contrary.”
Additional things you should keep in mind when making robocalls for payments…
The rest is up to you to decide, as many have, the risks often outweigh the rewards.
Check out our blog How to Improve a Radiology Billing Department for more tips on how to collect payments.
If you haven’t already taken your radiology billing department paperless, now is as good a time as any. Electronic access to billing is a win-win for the patient and the billing department because it makes it easy on the former and streamlines processes for the latter.
Dexios is an award-winning radiology billing expert offering a variety of services and solutions to help you overcome the challenges of today’s healthcare economy.