Research shows that hospitals delivering a better patient experience are generally more profitable. By now, most hospitals realize that patients who feel that they are treated well are more likely to give good reports to their friends and family, less likely to sue the hospital for malpractice, and more likely to return to the hospital should they need additional treatments.

Unfortunately, while many hospitals realize the importance of cultivating a positive patient experience, some hospitals forget that billing is an integral part of that process. While in the past most interactions with patients revolved around the clinical staff, patients are now paying an increasing amount of the bill out-of-pocket. This means that no matter how professional and kind the doctors and nurses are, patients’ goodwill can evaporate quickly if they are turned over to what they may interpret as unsympathetic financial staff. After all, every patient wants to be treated as a person, not merely a number in the unending list of unpaid invoices.

What do Patients Want from Billing?

Although some patients may be resistant to work out their billing issues, there are a number of things your billing office can implement to build a positive relationship with your patients:

1. Transparency: With the increasing percentage of patients paying out-of-pocket, it’s very likely that your patients want to know what they are being charged and exactly for what procedures. Patients are now far more likely to question costs that might seem strange to them. Thus, it is important for your billing office to have information up to date and readily available for the patient’s review.
2. Estimates prior to care: With the exception of emergency room visits, people are becoming dissatisfied with the traditional practice of providing care without cost estimates. It is not uncommon for patients to complain they received their bill weeks after the procedures were completed, most of the time reflecting an amount higher than expected. For many patients, sticker shock can cause them to feel so overwhelmed that they try to ignore the bill to avoid dealing with the high balance. So what can your billing office do? A good way to prevent this from happening is to provide an accurate estimate of the costs up front while emphasizing that these estimates may not be exact, but are close to what the final amount should be. By doing this, your billing office can help patients prepare for the bill amount and may allow for some negotiation ahead of time.
3. Appointment reminders: Every year, roughly 23% to 34% of outpatient appointments are missed. Let’s face it: from birthdays to medical appointments, people forget even the most important occasions. Understanding this very human tendency and anticipating well for it can make a big difference. One way your billing department can help is by sending out appointment reminders to patients regarding their upcoming visits. Doing so can prevent patients from being charged with no-show fees, improve patient outcomes, and save patients the trouble of having to reschedule another appointment, all of which lead to a positive patient experience. 
4. Financial counseling: For patients who truly can’t pay their bills, financial counseling can offer solutions the patients may not know were available. A good patient access professional can provide basic financial advice to help patients understand their options. As a result, patients feel supported in the process and the exploration of options results in a higher chance for reimbursement.
5. Good payment options: Some people can pay their entire bill right away. Some people qualify for public assistance to help pay their bills. Some people, however, do not qualify for either option and will benefit from a competitive payment plan or other option to help manage their bill.

Where Does Patient Access Fit In?

As the healthcare world changes, the role of the billing department also changes. It used to be that billing staff dealt primarily with insurers and handle just that: billing. However, the increase in high-deductible health plans has changed the percentage of interactions towards direct contact with patients. Additionally, faster access to information on the internet has led more informed patients to proactively contact hospital billing departments in search of financial clarification and resolution. 

Today, billing departments are expected to offer extended patient access options such as financial counseling and application assistance. It is critical for billing departments to meet the changing needs of its patients and remember that billing is an integral part of creating a positive patient experience.

How Do Customized Payment Options Help?

As previously mentioned, patients appreciate good payment options that cater to the differing needs of each case. Some patients have the means to pay the entire amount at the point of service. Some patients might have enough to pay the balance, but may delay in paying for various reasons. In this case, it may be a good idea to introduce an early-out discount as incentive to pay promptly. Some patients may have true financial hardship and never able to pay. Such patients might need to be referred to charity programs and other ways to get their bill settled, such as through Medicaid or other public benefits. For many , a payment plan that spreads the bill out over multiple paychecks may be the best option.

Ensuring that every patient is aware of his or her options is vital. Many patients will receive a high bill and ignore it in the hopes that it will go away. Others may, not realizing they have options, use a high interest credit card to pay the bill and end up in a worse financial bind. Thus, it’s important to ensure that patients are made aware of available patient access services at the time they receive the bill, or preferably beforehand. A designated patient access representative can contact patients directly and thus contribute to a more positive patient experience. To increase the chances that patients will actually seek help, make sure to include the contact information for your patient access professional with the bill along with an explanation of the available services. 

Now What?

While implementing these processes might seem like a lot of work, ensuring these points are in place will contribute to a better patient experience and higher patient satisfaction. Although billing may not seem as important as what happens in the operating room, it is still something your patients will remember when they need an elective procedure, and may talk about on social media. A hospital that has a good reputation for ensuring patients can afford to pay their bills will get more interest from patients and more referrals from physicians.

The Midland Group’s  One Patient. One Touch. One Solution system equips patient access representatives with the personalized expertise to ensure that every patient has a positive financial experience. Here at The Midland Group, we care about the people you serve. Our on-site staff supports your billing office and hospital registration to educate patients on their financial options. We offer a variety of payment options that allow patients to settle their bill, which increases upfront collections and earns patient trust. Our comprehensive system has been proven to increase revenue, reduce defaults, and improve the level of patient satisfaction of your hospital. Book your free assessment today to see how you can maximize all potential revenue surrounding all types of liability claims.​

Nowadays, patients are faced with higher deductibles and copays while insurance companies continue to trim down their financial responsibility by offering attractive reduced monthly premiums. This means that patients are becoming liable for a much larger portion of their hospital bills than what has ever been seen in the past. Unfortunately, when faced with a high bill, many patients avoid any attempt at a financial conversation because they feel like they have no reasonable option to pay the balance in full prior to the account going to collections.   As an example, why would a patient with limited financial means pay towards a medical bill when the service has already been provided and the eventual end result will be the same; collections.  How do you connect with those patients as early in the revenue cycle process as possible to provide education and insight to the many options available prior to that decision being made? How do you ensure that each patient is making a decision based on the real options available to them rather than on an incorrect assumption of what is likely to occur?

Helping Patients Pay Their Debt

Helping patients meet their financial responsibilities by working with them to set up doable payment plans builds a long-lasting relationship between the patient and the hospital. It also helps ensure that a patient will happily (and likely) pay their share of the bill. Typically, most patients genuinely want to pay their hospital bill, but they often require affordable payments to pay the necessary amount.

Understanding the Payment Plan Process

At The Midland Group, we work closely with hospitals and patients to ensure that all bills are satisfied to the greatest possible extent. The Payment Plan created at The Midland Group is a managed arrangement that is completely managed through the Midland Payment Plan team.  With the Payment Plan, the hospital can gain a return of up to 100 percent on the principal amount when a patient selects an interest bearing plan or will pay a contingency fee on each dollar collected on short term plans or when payments are made in full. By fairly managing the Payment Plan, the patient can effectively pay off their debt and the hospital achieves a steady cash flow month after month. It becomes a winning situation for everyone involved.

All-around Satisfaction for All Parties

Patient Benefits: Most patients are extremely satisfied with The Midland Group Payment Plan because it gives them the opportunity to effectively pay off their debt even if they live on a tight budget. We will set a payment due date that works for the patient and a set monthly payment amount that allows the patient to make monthly progress towards satisfying their hospital balance. Most patients welcome the negotiations and the opportunity to pay off their debt in a manner in which they had active input. Patients will also not have to face any negative marks on their credit report should they fall into default.  At that time, we simply return that account to you for further collections activity.

Hospital Benefits: The hospital benefits from receiving the money owed to them without having to pay any substantial administrative fees during the collection process. Simply put, our clients only pay when we are successful.  By accepting a payment plan, the hospital is likely to receive full payment with little or no financial losses.