BC Advantage - 2019 Issue 11
How to Increase Patient Payment Collections in 2020
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Article Overview
This article discusses practical revenue-cycle and patient-financing approaches for medical practices looking to improve patient payment collections in 2020. It focuses on communication, reminders, self-service tools, payment convenience, and collection outsourcing as broad operational topics. The piece is intended for practice administrators, billing teams, and other healthcare revenue-cycle staff evaluating ways to reduce missed payments and improve collection processes.
Why This Topic Matters
As practices increasingly depend on patient responsibility for revenue, collection workflows and patient-facing payment tools can have a direct impact on cash flow and administrative burden.
Article Sections
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Steps to Improve Patient Payment Collections
An overview of practice-level approaches for improving how patient payments are handled and collected. The section introduces several operational areas commonly used in revenue-cycle management.
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Payment Policy
Discusses the role of establishing and communicating a clear billing policy to patients. The focus is on awareness, expectations, and supporting timely payment behavior.
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Appointment/Payment Reminders
Covers the use of reminders to help patients stay informed about appointments and billing obligations. The section addresses communication methods intended to reduce forgotten payments.
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Tools to Stay Informed
Reviews patient-facing tools that provide access to account and billing information. The section emphasizes self-service channels and integrated digital access.
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Variety of Payment Options
Describes offering multiple ways for patients to submit payments. The section highlights convenience and flexibility as part of the payment experience.
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Outsource Strenuous Collections
Addresses the use of outside collection support for difficult or long-outstanding balances. The section focuses on workload reduction and collection process support.
What You Will Learn
- How practices can organize patient payment workflows to support better collections
- Why clear communication and reminders matter in patient billing
- What types of patient-facing tools are commonly used to support payment collection
- How payment convenience can affect patient responsiveness
- When practices may consider outside help for difficult collections
Who Should Read This
- Medical practice administrators
- Billing and collections staff
- Revenue cycle teams
- Healthcare operations managers
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