Accelerating Patient Payments
Patient A/R is an ever-increasing focus for many practices. Deductibles alone have changed the game as they've ballooned over 200% in the last decade. You can't guarantee payment, but you can improve your patient financial experience and (in turn) collect more, faster. We'll discuss the following strategies to accelerate your cash:
- Introducing the financial component earlier in the revenue cycle.
- Communicating with patients through modern platforms.
- And digitizing payment channels.
By increasing patient financial transparency you'll not only accelerate payments and collect more, you'll also improve the patient experience. This will lead to a happier patient base, a broader referral network, lower A/R, fewer balances going to collections, and a highly efficient team focused on outstanding balances.
