An edited version of this blog was published on 17th April 2018 on www.healthbridge.co.za.
As a doctor your number one priority should be providing excellent healthcare services to your patients. However, even though you’ve taken an oath to provide healthcare to those in need, as a private practice it’s not feasible to run a business without ensuring your costs are covered. At the end of the day when patients don’t pay their bills the profitability of your practice declines.
To ensure healthy financial management of your practice we suggest taking the following points into consideration to help maintain good patient relationships while following up on overdue payments.
Optimal patient interaction
Waiting room decoration and the placement of the receptionist and financial desk is very important to ensure patients have instant interaction upon their arrival and departure. Before the patient’s appointment the receptionist can inform them about your medical practice’s standardised payment policy and the approximate cost for their doctor’s consultation – this way the patient will be aware of what they will be responsible for paying and what will happen if they fail to settle their bill. The receptionist can also tell the patient whether they can pay with their card of if its cash-only practice. This will allow the patient to make arrangements prior to the appointment if necessary, such as visiting a nearby ATM. Once the patient steps out of the doctor’s consultation room, having direct visibility of the billing personnel will also help ensure that they settle their bill before leaving the premises.
Financial-savvy staff
Of the utmost importance is to ensure that both you and your staff are aware of your medical practice’s financial protocols. Staff should be trained to suitably communicate with patients in a polite yet transparent way to educate them about their medical debt and answer any questions that may arise. Staff must also be knowledgeable about medical aid reimbursements and any other financial policies.
The most effective method of ensuring the patient’s bill is paid is at the time of service. It’s therefore important for billing staff to have the knowledge and skill to understand the importance of timely payments and to clearly communicate the amount due to the patient. If there are certain circumstances that deem the patient unable to settle their bill at that time, they should be presented with time-based payment options or even a discount. Such practices are especially useful when dealing with uninsured or underinsured patients.
Staff should also be trained on how to effectively and patiently deal with patient’s that are overdue with their payments. In such scenarios, staff should be informed on how to provide patients with information on practice rates and other methods of payment.
Efficient invoicing
When generating invoices, it’s important to check and verity the patient’s contact details to ensure that they can be contacted should they fail to settle their medical bill. It’s recommended to also generate informative patient statements that not only informs the patient of the total balance due, but also of the services provided and performed as well as the contact name, address and telephone number of the medical practice for statement inquiries. This extra information can go a long way in getting the patient to understand their financial responsibility and responding to their overdue medical bills.
To settle the bills of both private and medical aid patients it’s highly beneficial to have a real-time submission system in place to speed up the payment process. Incorporating a digital medical billing solution into your practice’s workflow can streamline bill collections by tracking past due bills, automating late fees and identifying patients who are behind in payments. While the system may be seen as a pricey investment initially, there will be a massive ROI in terms of your improved payment collections rate.
Digital payment methods
To motivate patients to settle their bills it’s important to make the process as easy and simple as possible. Therefore in addition to accepting common payment methods such as cash and credit card, it could be beneficial to look into incorporating app-based payment methods into your medical practice. For example there’s SnapScan, where the patient can scan your unique QR code with their mobile phone and pay their bill securely and hassle free using the SnapScan app.
Another option is online payment portals through which patients can settle their accounts conveniently at their own time. If this is a route you decide to take, it’s important to ensure the patient portal is secure to ensure the patient’s information is protected, especially in relation to the POPI Act.
While patient collections is often challenging, it doesn’t have to be a daunting task. By incorporating the above points into your medical practice’s workflow you’ll be able to reduce your risk of bad debt and improve financial collection from patients. Just always remember to encourage your staff to approach your patients with respect and understanding to ensure they maintain good relationships. Politeness and understanding can go a long way in encouraging your patients to pay on-time.
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