Inflation continues to hit a variety of parts in the US economy, causing debt to rise and consumers to be more careful with their spending. While it has yet to hit the health sector, that delay will not last forever according to the Kaiser Family Foundation. Healthcare prices are typically decided in advance, so the industry will start to see the effects once insurers begin setting premiums for next year.
As clinics wait for the health sector inflation to hit, they should have plans in place to support themselves and their patients.
Online payments
Offering a way for patients to pay their bills online helps clinics collect their full reimbursements and 
follow the trends. Digital tools are often easier, faster, and more convenient than sending a paper bill. The use of checks is declining, and direct mail typically takes more time between the bill being mailed, received, and resent. Allow your patients to log into a secure platform instead. It’s more accommodating with a pay by card or bank account option, and it gets your revenue cycle moving faster.
Financing
Even with the government administration focusing on reforms that address medical debt in the US, this issue remains a big worry for patients. They either avoid medical care, which means clinics lose patients, or begin collecting debt that becomes harder and harder to pay off. Offering a financing plan helps patients feel like they can receive the care they need and control how they’re paying it back. There’s a higher chance of their bill being paid off in full when scheduled in smaller increments rather than one large sum.
Reminder System
Whether you’re reminding a patient to schedule their appointment or pay a bill, a system helps keep the provider and patient on the same page. Offering these reminders at the time of check-in ensures patients are either paid up or well aware of their outstanding balance from their last appointment. The average American keeps busy in our fast-paced society, and it’s easy to forget health needs. If you haven’t already, put together a way for automated messages to go out when patients are due for an appointment or to remind front staff that they need to be contacted. It shows dedication to your client’s health, and it helps build trust. Then, once it comes time to pay the bill, they might need a few follow-up reminders if they don’t pay it off in a certain time period.
Outsource Receivables Inc. has experience serving specialty clinics across the country, and we have offices in Chicago, Minneapolis, and Boston. Read more about how we make a difference.