decisionhealth Newsletters, Part B News - 2011 Issue 10 (October)
4 ways to add extra payment options that will boost collections
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Article Overview
This article covers practical revenue cycle management guidance for medical practices focused on patient collections. It discusses general categories of payment access and billing workflow options, including portal-based payments, web-based payments, phone payments, and payment plans, along with references to vendors, practice operations, and collection workflow considerations. It is relevant to practice managers, billing staff, revenue cycle teams, and clinicians who oversee patient financial processes.
Why This Topic Matters
As patient responsibility grows, practices need flexible, efficient ways to collect balances and reduce administrative burden. The article helps readers evaluate broad payment-process options that may affect collection performance and patient billing experience.
Article Sections
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Revenue cycle management
Introduces the rise in patient responsibility and the importance of offering multiple ways for patients to pay their bills. Sets the context for the collection-focused guidance that follows.
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Patient payment options
Reviews several approaches practices can use to accept patient payments and manage outstanding balances. Covers portal-based payments, web-based payment tools, phone collection workflows, and payment plans.
What You Will Learn
- Why expanding patient payment options can affect collections
- How patient portals fit into billing workflows
- How online and phone-based payment options are used in practice settings
- How payment plans are presented as part of patient balance management
Who Should Read This
- Practice managers
- Medical billing staff
- Revenue cycle management teams
- Healthcare administrators
- Front desk staff
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