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Maximizing Patient Collections: Tips On Your Patient’s Perspective

Maximizing Patient Collections Tips On Your Patient’s Perspective.jpg

Maximizing patient collections at the time of service is a must in today’s changing healthcare landscape. Why? Many more patients are now responsible for their own healthcare expenses and statistics show the ability to collect after a patient leaves your office drops significantly.

In fact, a large percentage of patients that have left your office without paying, may never pay — but don’t despair. There are some things that your practice can do to improve collections at the time of service.

[ Related Article: Tips To Improve Patient Collections ]

Information collected by MGMA reports, “30% of patients walk out of your practice’s door without paying a dime.” When you realize the impact this may have on your total revenue, it might be time to rethink patient collections, enlist some help and implement a few new best practices.

Maximizing patient collections: Viewing From a Patient Perspective

As the shift in patient mindset leans gradually greater to that of consumer, making sure that your patients are satisfied and happy will help your office collect for services rendered.

Think about it this way: there are many services that people will willingly pay for and are happy to pay for if they believe it helps improve their quality of life — such is the case with the physical therapy services your office provides. In the same regard, if someone is unhappy with the services received, they are less likely to pay for it.

[ Related Article: A Growing Trend In Patient Care: Consumerism ]

Also, what is said, or is left unsaid, can impact the revenue your physical therapy practice is able to generate. In today’s world of technology at our fingertips and transparency being demanded in every industry, the world of healthcare is no different. Patients can share their experience online in minutes, on any number of review sites, and their experience — whether good or bad — will have an impact on other patients’ opinions and experiences of your practice as well.

Improving the patient experience and level of quality of care received to the best of your office’s ability will go a long way in helping your patient become not only healthy, but happy too! And help your physical therapy practice generate payment for services rendered.

For an expert team on your side to help boost your physical therapy practice’s revenue, contact us today. Contact Billing helps improve claim auditing/CCI Edits, validating ICD-9 vs CPT codes and adjusting modifiers to help you decrease rejected claims and increase amounts collected.

Growing Trends In Patient Care: Consumerism

Growing Trends In Patient Care

Among growing trends in patient care is a shift in patient mindset to consumerism. Why is consumerism rising in healthcare?

In the past, it was more commonly the case that the healthcare plan was provider by an employer. Of course this may still be the case for many, but the rise of high deductible health care plans over the last few years has made that less common.

With the changing healthcare regulations, more and more plans have become high deductible health care plans, and more and more patients are having to find ways to cover their healthcare expenses — making them much more involved in their care and decision making processes along the way.

Along with patients incurring more out-of-pocket expense than ever before, they also expect a change in their quality of service. This means patients are beginning to feel more like consumers in the healthcare marketplace and expect services they receive to match.

Growing Trends In Patient Care: Consumerism & Understanding Your Patient

With that, comes a shift in the mindset of the patient. It shifts from “healthcare providers have my best interest in mind” to “I’m paying a lot out of pocket and the level of service I receive should correspond to that.”

So what are some things that your physical therapy practice can do to adapt to this growing trend in patient care of consumerism in healthcare?

Improving UX (user experience)

Typically a term referred to in the tech world, the UX, or user experience makes all the difference when it comes to patient perceptions. In the world of social media, reviews and online reputation management, creating an excellent “user experience” is even more imperative.

Instant Gratification

If you offer same day or next appointments, you’ll serve the growing consumer mindset of instant gratification. Yes, this is healthcare — but the patient mindset is changing and with that, so should the services your office offers to better serve their needs.

Understanding Your Patient’s Role In Care

Patients read, research and write reviews of the services they’ve received. They want to know as much as they can up front and want providers to be transparent with costs and care options. They want to make informed decisions and they take the time to do the research they need to, to make those decisions.

Typically, the healthcare landscape has been a confusing place for patients. If you are a physical therapy outpatient provider adapting to growing trends in patient care by, improving the patient experience, satisfying their requirement for fast service, and helping them play an active role in their own care by giving them the information they need, will help your patient navigate these muddy waters and raise your level of service in their eyes.

If you are looking for a physical therapy billing provider to partner with you as your office makes the transition to accommodate the growing trends of consumerism in healthcare today, contact us. At Contact Billing we work hard to keep up to date on the latest coding and billing changes so that you can focus on what matter most: excellent patient care.