Dying to watch that new critically acclaimed series everyone is talking about? You’ll find every episode, ready to binge in an instant on one of many online streaming service. Getting on a plane tomorrow and need a good book to read? Download one now, along with your favorite magazines – and check in to your flight – in five minutes flat from the comfort of your living room. We live in an on-demand, consumer-centric society. We do our banking online, we look for love online, and we pay our bills online. A consumer’s health care is no exception to the convenience and immediacy that he or she expects in service. Making sure your medical practice offers online bill-pay helps to not only keep your patients satisfied, but it will also help you get paid faster.
A recent survey found that more than half of providers say that their primary revenue cycle concern is tied to patient collections. A web-based bill-pay solution offers your practice and your patients a win-win situation. Providing easy online billing to your patients isn’t only a convenience for them; you’ll get paid faster, reduce errors, save staff time for more pressing duties, and lower costs by saving paper, eradicating mailing and postage, for a more organized approach to payment management.
But convenience isn’t the only objective to serve today’s savvy patient. Along with those consumer expectations of instant, on-demand convenience comes a desire for cost transparency. Reports show that 76 percent of consumers are confused by their healthcare bills and that 50 percent of consumers are open to switching providers who will offer more clarity and convenient payment methods. A thorough and secure online bill-pay function provides this transparency for patients to view a detailed statement of all of their costs per visit, eradicating the mystery and confusion that can often accompany healthcare costs.
Utilizing a nimble patient portal with a secure online bill pay function as one of its many features can play a significant role in achieving the most seamless and efficient stream of work in your practice. You should choose a patient portal and practice management system that is integrated with an elegant EHR and/or billing system. Make sure you do your homework to find the most state-of-the art solution, and one that is best suited to your practice and specialty workflow.