What Patients Don’t Pay Will Hurt You

It’s a given that your financial health depends on collecting every dollar due and bad debt write offs hurt your bottom line. Because the patient’s share of cost-of-care has increased by as much as 40%, collecting payment as early as possible and providing multiple, convenient payment options will help you secure payment more quickly.

5 easy steps to help you increase collections, decrease AR, reduce bad debt and increase patient satisfaction:

  1. Provide patients with a personalized self-service online portal
  2. Generate clear, real-time price estimates online or at the point of service
  3. Send proactive, data-driven alerts to qualified pay plans and financial assistance services allowing patients to self-manage enrollment and pay what their insurance won’t cover
  4. Engage, educate, and empower your patients with customized billing statements—which can be mailed or accessed through the self-service patient portal
  5. Offer various, convenient secure payment options online and at point of service, including an EMV chip enabled device

Your patients’ budgets are even tighter this time of year. Show compassion and offer convenience to help them pay for their care. Contact us at 1 888 661 5657 or experianhealth@experian.com to find out how.

You can also download our white paper, Striking the Balance: Increase Patient Collections and Patient Satisfaction in Today’s Risk-Transitioning Healthcare Environment.