- Clear and Timely Communication
Notifying patients of balances is the first step. Hospitals can send statements through various methods, including mail, email, or text. Offering flexibility, such as electronic billing (e-bill notifications) or customized messaging, ensures patients stay informed and engaged. Additionally, enabling options like alternate addresses or in-house statements helps maintain contact even during long-term stays. - Automation in Accounts Receivable (AR)
Automating self-pay AR minimizes manual tasks and accelerates cash flow. For instance, systems can automatically generate statements, change account statuses to “self-pay after insurance,” or even create time-pay records. Automated processes reduce errors, improve efficiency, and ensure timely follow-ups. - Online Payment Solutions
Convenient payment options encourage patients to settle balances promptly. Offering an online bill pay portal, branded to the hospital, simplifies the process. Features like QR codes on statements, scheduled payments, and notifications about upcoming charges provide a seamless experience for patients and reduce barriers to payment. - Utilizing Third-Party Services
Hospitals can partner with agencies for statement processing, mailing, and AR management. These services handle everything from address updates via the National Change of Address database to generating placement files for early-out vendors or bad debt agencies. - Reviewing and Optimizing Systems
Regular system reviews ensure statement processes and AR settings align with current needs. Hospitals can benefit from expert evaluations to identify gaps, optimize workflows, and implement updated strategies for self-pay management.
By leveraging technology, automation, and expert services, hospitals can boost patient satisfaction and significantly increase revenue through improved self-pay management.
