This document discusses best practices for medical practices to collect unpaid account balances from self-pay patients. It notes that the number of uninsured and underinsured Americans is rising, leading to more unpaid medical bills. It recommends that practices automate account balance reminders by phone, email, and mail rather than relying on manual collection methods, as automated reminders are more cost-effective and ensure consistent follow up with patients. The document also provides an overview of a company called Webley that offers an automated account balance reminder service for medical practices.
In this webinar slide deck, we review tips and best practices to improve your patient payment collections. This includes details on patient statement configuration and online bill payment options.
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Self Service Customer Care For Next Generation NetworksGreen Packet
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Service providers are under pressure to deliver customer experience that separates them from the competition, while at the same time trying to delicately balance their revenues and managing costs for near term gain and longer term success. In this paper, we outline the scale of issues faced in mobile device and service care that impacts both service providers and end-users beyond connectivity. With a broad range of services and wide variety of applications, the smartphone requires more complexity to handle a multitude of firmware and software configurations which legacy CRM systems are inadequate to deal with today’s customers.
Remote device support and service care is a key component to tackle the demands of escalating costs in customer care. Service providers are seeking integration onto backend systems without incurring heavy infrastructure changes and ensure the best fit into the existing operations through automated and proactive customer care mechanisms to ensure service excellence and thus prevent service quality degradation.
In this webinar slide deck, we review tips and best practices to improve your patient payment collections. This includes details on patient statement configuration and online bill payment options.
In this webinar we cover the new and exciting product innovations from the Centricity EDI team. We also share how our customers have improved their A/R and collection rates with the use of these solutions.
Self Service Customer Care For Next Generation NetworksGreen Packet
Smartphone devices have dramatically changed the way consumers consume data. The need to be connected anywhere and anytime is driving service providers to put focus into customer experience to grow customers, build loyalty and drive profits through new services. As a result, the expectations of service experience from the end-user are heightened and cannot be underestimated.
Service providers are under pressure to deliver customer experience that separates them from the competition, while at the same time trying to delicately balance their revenues and managing costs for near term gain and longer term success. In this paper, we outline the scale of issues faced in mobile device and service care that impacts both service providers and end-users beyond connectivity. With a broad range of services and wide variety of applications, the smartphone requires more complexity to handle a multitude of firmware and software configurations which legacy CRM systems are inadequate to deal with today’s customers.
Remote device support and service care is a key component to tackle the demands of escalating costs in customer care. Service providers are seeking integration onto backend systems without incurring heavy infrastructure changes and ensure the best fit into the existing operations through automated and proactive customer care mechanisms to ensure service excellence and thus prevent service quality degradation.
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The SlideShare 101 is a quick start guide if you want to walk through the main features that the platform offers. This will keep getting updated as new features are launched.
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A brief introduction to Webley MD Reminders, an automated patient notification service. Covers key features, key benefits, use cases, and how it works.
Helping drive demand for tourism, leisure & music.
An analysis of customer, ticketing and booking data gathered from across the tourism, leisure and music industries, to gain insights into customer behaviour, observe demand trends, and identify how to make more effective use of data in marketing.
Presented at the University of Toronto's Research with Pride conference, 2009. Examines how the networked world presents opportunities for researchers to collaborate, promote, and effectively disseminate research findings to relevant audiences.
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Keynote Presentation at the Research - Teaching in Wales 2011 Conference, 13th - 14th September, Gregynog Hall, Newtown (Powys)
What works and doesn't work in research disseminationtbirdcymru
Is 'closed' more effective than 'open' in research knowledge creation and dissemination? This paper argues that open is more efficient and effective, and makes better scholarship as well as academic profile for the researcher.
How is tourism development in rural areas different?vaugeois
This is a presentation from the Canadian Geographers Association Special meeting on Rural Recreation and Tourism held in Ottawa in May 09. It highlights how the development of tourism in rural areas is different or unique due to the complexities of the setting.
Dissemination 2.0 - the role of social media in research disseminationPetter Bae Brandtzæg
Dissemination 2.0 - the role of social media in research dissemination.
My talk at The 6th Munin conference 2011 – Enhancing publications. Tromsø, Norway, 23.11.2011 http://www.ub.uit.no/baser/ocs/index.php/Munin/MC6
By failing to plan the dissertation, one is instead planning to fail it. Learn about the steps in planning the dissertation project from creating an outline, calendar timeline, and forming a committee.
Music Tourism in UK: $3.5 Billion Spent Every YearRafat Ali
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This presentation describes the standard structure of your research dissertation and suggests a methodology for its successful production using modern word processing tools.
FESTIVAL INTERRUPTUS: The future of music festivals and what it means for hum...sparks & honey
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The SlideShare 101 is a quick start guide if you want to walk through the main features that the platform offers. This will keep getting updated as new features are launched.
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Webley MD Reminders patient notification service brief overview 2011Webley MD
A brief introduction to Webley MD Reminders, an automated patient notification service. Covers key features, key benefits, use cases, and how it works.
Learn why top practices choose to automate work processes and how your practice can benefit from affordable, on demand software applications for automating appointment reminders and message management.
Overview of Medical Pay Solutions Revenue Maximizer system allowing medical practices to end the BILLING NIGHTMARE and collect more revenue easier, faster - very patient-centric!
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The growing chorus of patients with high deductible plans places a greater burden on medical providers to implement patient revenue cycle solutions that optimize net collection rates. Patients are now the largest payers in healthcare. Patient payment technology solutions have the unique ability to promote healthcare price transparency by educating and empowering healthcare consumerism with insurance eligibility information, cost-of-care estimates, co-pay and deductible amounts, and estimates of what balance may be owed post insurance claim adjudication. Learn more about how and why implementing a patient payment collection technology solution empowers, engages, educates, and delights patients through a convenient and intuitive patient check-in kiosk. Plus, learn more about the new “vitals” to track patient revenue cycle management to improve patient net collection rates in this webinar slide deck.
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Tips for Collecting Account Balances from Your Patients
1. How to Collect Account
Balances from Your Patients
Simplifying and Unifying Communications Through Technology
2. Practices Collecting Directly from Self-Pay Patients
• Rising numbers of uninsured & underinsured in U.S.
– 47 million Americans (15.4%) are uninsured (CDC National Center
of Health Statistics)
– 25 million Americans are underinsured
• More is paid out of pocket as deductibles and co-pays for
employee sponsored plans continue to rise
– Employees need to contribute more for health care
– Dependent coverage cut
– High deductible health care plans gaining popularity
• Bad debt on the rise
– Health care bad debt is at record levels
– U.S. hospitals have $40 billion in unpaid patient bills (MSNBC)
Simplifying & Unifying Communications Through Technology
3. Medical Billing vs. Medical Collections
• The world of medical coders and billers
– Coders are responsible for accurate coding of claims, they may
audit and re-file appeals of claims
– Billers gather information from patients & physicians, ensure that
insurance forms are completed and signed, submit claims to
insurance companies for reimbursement
– Billers provide invoices to patients
– Billers track payment process to ensure payment is received, they
may handle patient inquiries
– Billers sometimes contact patients about past due accounts
• Collections not emphasized
• If using an outside firm that charges per claim, they have little incentive to
pursue past due accounts
• Be wary of billing companies that own or have affiliate relationships with
collection agencies
Simplifying & Unifying Communications Through Technology
4. Most Practices Mail Bill Reminders
Source: Webley research, 2009 survey
Simplifying & Unifying Communications Through Technology
5. Success of Medical Practices at Bill Collections
Source: NaviNet, 2009 survey of medical practices
N = 1279
Simplifying & Unifying Communications Through Technology
6. Concern Over Payments
• The McKinsey Quarterly estimates that 40% - 50% of patient
accounts receivables are uncollected (June 2007)
– 50% to 70% of small dollar liabilities for insured patients are
collected
• “The number of physicians who said they were concerned with
collecting from self-pay patients and those with high-deductible
plans and/or health savings accounts rose from 50% a year ago to
60% this year.” (MGMA 2009 survey)
Simplifying & Unifying Communications Through Technology
7. Challenges of Internal Bill Collections
• Patient privacy violations could lead to fines
– Fair Debt Collection Practices Act
• Could get in trouble for calling someone at their place of employment or
discussing the debt with third parties, other than the person’s spouse or attorney
• Slow, time-consuming, uncomfortable for office staff to
make calls about account balances
– Patient may not have privacy during call to speak about the
situation
– Staff has to deal with excuses, evasions, etc.
– Calls aren’t consistently made
• Easy for patients to ignore or overlook mailed statements
– Phone calls more effective at getting attention
– Mailing statements is expensive
Simplifying & Unifying Communications Through Technology
8. Bill Collections is Effortful but Necessary
Source: 2008 McKinsey consumer healthcare payment survey
Simplifying & Unifying Communications Through Technology
9. Best Practices of Bill Collections
• Clear payment & collections policy communicated to
patients
– Post on website, at your practice, on patient statements
– Remind patients when scheduling the appointment
• Have new patients or patients you haven’t seen for awhile
contact insurance verification department
• Collect at the time of service whenever possible
• Provide prompt billing & easy to understand patient
statements
• Late fees or charging interest on outstanding balances
Simplifying & Unifying Communications Through Technology
10. Best Practices of Bill Collections
• Make it easier to pay
– Online bill pay
– Accept debit cards
– Accept credit cards
• A client of MBA HealthGroup went from collecting 15% of
co-pays at the time of the visit to 40% after accepting credit
cards
• According to an article in the American Medical News (June
22, 2009): “practice management consultants say the option
of credit cards is well worth the cost of transaction fees,
compared with issuing paper statements and dealing with
the hassles and costs of bounced checks.”
• See privately insured on a cash only basis
– Lower administrative cost because patient handles
submitting the claim
• May want to consider using collections agency
for accounts over 90 days old
– Choose a collections agency with healthcare
experience
– Agencies charge .33 per $1 collected and only
collect 14% of the total amount due)
Simplifying & Unifying Communications Through Technology
11. Best Practices of Bill Collections
• Send payment reminders
– Contact those with outstanding
balances at least once a month (30,
60, 90 days)
– Automate account balance reminders
– Combine phone and mail reminders
to reach more patients
Simplifying & Unifying Communications Through Technology
13. How Webley MD Reminders Work
Create file of patients
with outstanding
balances
Campaign reports are Log in online, send
generated data to Webley
Messages sent to
Personalized
patients by phone, by
messages generated
email
Simplifying & Unifying Communications Through Technology
14. Webley MD User Interface
2 simple steps and your work is done
Simplifying & Unifying Communications Through Technology
15. Account Balance Script
“This is a message from Dr. Smith with important
information regarding the status of your account.
Please call us within the next 24 hours at (123)
456-7890 during regular business hours to
discuss this important matter. Thank you for your
assistance.”
Simplifying & Unifying Communications Through Technology
16. Benefits of Automating Account Balance Reminders
• Cost & labor savings
– Save on postage costs
– Save on labor
• Easier & faster to remind patients
– With consistent reminders, more patients will pay, shorter A/R
cycle
– Fewer accounts will go to collections agency
• Improved staff & patient satisfaction
– Fewer calls to make about payments
– Patients will call in ready to discuss their accounts
– Frees up staff time for patients
– Frees up phone lines, reduces phone tag
• Reduce exposure to legal liability
Better cash flow, increased office efficiency
Simplifying & Unifying Communications Through Technology
17. Webley Corporate Overview
• Founded In 1997
• Industry Pioneer in Advanced Speech Applications:
• Unified Communications
• After Hours Messaging
• Broadcast Messaging
• 7 Advanced Speech Patents
• 50,000 Active Customers
• Delivering 180,000,000 Transactions Per Year
• Fully Redundant Data Centers
• Numerous Awards For Technology Product of the Year, including:
Recipient of 2009 Product of the Year Award for
Webley MD Reminders from Customer Interaction
Solutions Magazine
Simplifying & Unifying Communications Through Technology
18. For additional information:
1-877-7-WEBLEY
info@webley.com
Simplifying & Unifying Communications Through Technology