Trends in Healthcare Billing and Payment Services

According to an article in HBMA Billing Journal, “It's not enough to just be proficient at submitting clean claims to third-party payors. We also need to have the tools to help  maximize their self-pay collection.”

According to the 2015 Trends in Healthcare Payments Sixth Annual Report, 75 percent of patients use online payment channels to pay their household bills. Most patients expect this convenient payment option when it comes to paying their healthcare bills too.

Top Ten Tips and Tools to Collect Patient-Owed Balances Faster and Easier

1. Provide patients different ways to pay their bills so they  choose what is best for them.
2. Verify eligibility for services before the patient appointment.
3. Automate patient estimates.
4. Obtain patient copay and deductible information at the time of the appointment.
5. Present patient statements electronically.
6. Use a patient portal that allows the patient to view and pay their bills online.
7. Use credit-card-on-file services to collect patient-owed balances (ensure PCI compliance.)
8. Implement an online and mobile optimized payment system.
9. Ensure your billing system generates reporting to analyze and trend data.
10. Offer patients digital messaging services such as phone and text reminders.

Adopting patient-centric billing and payment practices will create a better patient experience and a better chance of collecting patient-owed balances.