The 10 Best Revenue Cycle Management Solution Providers 2018 Cycle Management Final File optimize | Page 32

bills come as no surprise to them. This also increases the predictability of the financial dues on the patient’s end. It is a good
practice to educate the customers about their medical duties before the start of any treatment process. This helps them to
choose between the available options and be prepared in advance.
Estimation at All the Points-of-Care
With a state-of-the-art, reliable system, a firm can generate accurate billing statements at every point in the treatment process;
from registration to service delivery to post-treatment care. This develops a sense of involvement in the patients and prevents
the impending stress. All the staff members should have the access to the same information, so that whenever a patient
enquires, he or she receives the same answer.
One-to-One Communication
To enhance the patient financial experience, it is important to communicate with them effectively. This can be done by
leveraging technology to create a patient engagement platform on their preferred communication channels. The system
should customize the messages separately for every patient, to provide a patient-centric experience. Implementation of this
technique is said to increase patient payments by around 25%.
Customize Packages
How easy it would be if the patients could access information about the needed treatment and its billing statements online;
more so, if they could select the packages that could fit their financial situation? This would make healthcare very convenient
and burden-free for them. Additionally, the features of negotiation as well as customization can be added, to further ease the
process and enhance the experience. Colleting the patient’s data can help the health system device a perfect package tailored
to fit the patient’s needs.
Keep them updated in Real-Time
The patient financial experience can be further made better by providing the patients with their billing statements in real-time.
This will develop in the patients a sense of loyalty and transparency in the services provided by the organization. ‘Price
Transparency’ is valued today, more than ever. Having the latest data and updates about the billing statements will ensure
faith of the patients in their healthcare provider.
Employ the Right Staff
Once you put your feet in the patient’s shoes, the realization that the patient-facing roles cannot be entry level comes
automatically. The billing aspects are as significant as clinical aspects for the patients and they expect likewise from the
providers. The staff involved in patient engagement should be properly trained and efficient. All the members should have the
access to the right and similar information, so that everyone can provide the same answers to the client’s questions. They
should be well informed about every patient’s financial history, insurance coverage, payment process and channels, and the
patient’s responsibilities.
Allow them to Rate the Experience
A feedback always helps to find the loophole in the system or the place where the organization is lacking. It ensures
continuous improvement. So, how can patients rate their experience? Focus groups and online feedback panels can come to
aid here. Using these, patients can talk about their financial experience with the company. Receiving feedbacks after every
treatment process can significantly improve the health system as well as the quality of service.
When it comes to the medical billing process, there is no one-size-fits-all strategy. Healthcare is moving towards providing
more affordable and accessible services to the patients. Also, patients are bearing most of the financial burden. And in this
landscape, the healthcare providers should pay more attention to their revenue cycle management and come up with ideas to
revamp the financial experience they provide to their patients. Today, numerous tools and technologies are available to aid
them in this. The catch is to leverage these efficiently to provide sophisticated, flexible, and compassionate services.
-By Aishwarya Nawandhar
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| December 2018 |