Paper is really inefficient. It can cause delays at check in, putting your office behind schedule. Duplicate data entry can cause billing errors and claim denials. And patients hate paper because it’s tedious and inconvenient, creating a poor experience. No wonder 51 percent say they prefer a doctor who lets them fill out paperwork online. Digital intake allows patients to complete forms at their convenience. It ensures information is accurate and up-to-date, saving time for staff.
Save money with electronic forms.
Paper is also really expensive. It can take up as much as three percent of annual revenue. Reduce paper-related costs, while saving time for both patients and staff by using electronic patient forms. It also allows you to eliminate errors from duplicate data entry which contribute to claim denials. Up to 61 percent of denials come from things like data entry errors.
There are measurable benefits to using automated scheduling flows. And, they aren’t just monetary, although return on investment is a given when more patients show up and schedule needed care. Better communication improves efficiency, experience, and outcomes.
Providers said they had:
Better communication with patients
More engaged patients
Reduced phone time
Ninety-four percent of patients use reviews to find providers. A poor online reputation can have a big impact on the bottom line. Many organizations don’t have great online reviews or don’t have enough online reviews. Over two thirds of patients will leave a review if asked. So ask, and do it through text, which is the most effective method. A strong online reputation is a sure way to acquire new patients and meet revenue goals. According to Harvard research. A one-star rating increase can boost your bottom line by nearly 10 percent
Patients are paying a larger portion of their healthcare costs out of pocket, and $100 million of that goes uncollected. Offer patients an easy mobile option to pay their bills in the office or from home in minutes. Reduce the costs and time associated with collecting from patients and improve the billing process for them at the same time. The faster you collect, the more you collect.
Sixty-four percent of physicians say that increasingly their patients are paying for services that are not covered by insurance. Facilities often struggle to collect co-pays and other amounts due at the time of service. To increase collections and improve the patient billing experience, offer a simple mobile solution to pay at the time of service.
Improving the patient billing and collection process continues to be a top priority for healthcare organizations of all sizes. Text solutions speed up the process which has many benefits:
Research has shown
Providers collect 90% or more when patients pay in 30 days
Collection rates increase 25% if digital tools are used
Electronic payment methods are preferred by 68% of patients
Post-visit payment reminders:
Patient receive an average of three statements before they pay their bill. The longer it takes to collect, the less money is collected. At 60 days the collection amount drops to 60-75 percent. Sending reminders via text message as soon as the amount due is known, significantly speeds up the process, helping increase the amount collected.
Sixty-one percent of denials are due to errors like inaccurate insurance or demographic information. Use text messaging to make sure information is up to date and reduce the likelihood of a claim denial.
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