Patient interactions are impacted by the revenue cycle technology your practice uses. Every part of their contact with your practice influences their perception of your organization. This includes the check-in process, their waiting experience, their clinical experience, and their billing experience.
The medical billing experience has historically had a negative impact on patient interactions. Patients get frustrated with their medical bills for several reasons. Some patients do not understand their bill, feel they are being charged too much, or were caught by surprise and were not prepared for the cost. Regardless of why they are having a negative experience, improving patient interactions involves the utilization of high-quality revue cycle technology. Below are 4 revenue cycle technology tools that can help improve patient interactions.
Benefits of Revenue Cycle Technology
Price Transparency
Price transparency tools are non-negotiable and must be included in your organization’s revenue cycle technology. One of the most common reasons patients have a negative billing experience is that they were not prepared for their cost of care. More and more patients are shopping around for the most affordable option when it comes to their providers. Price transparency tools can help you educate your patients on the cost of their care so that they are never caught off guard. Preparing your patients as much as possible for what their bills will look like will offer them a more positive experience with your organization.
Improved Cost Communication
Integrated revenue cycle technology is key for improving cost communication and patient interactions. Your practice management software should make it easy for you to break down, understand, and explain a variety of billing details to your patients. With more productive communication about patient financial responsibility, patients are offered a more pleasant interaction. While price transparency is a part of this, it should also be easy for your billing staff to communicate payment options and cost breakdown.
Increased Clean Claims
Clean claims are key to preventing patient payments and growing your bottom line. A clean claim is a claim that was approved the first time it was submitted. When a claim gets denied, the payment is more likely to fall into the lap of the payment. Increased clean claims help your practice bring in more revenue, but they also help reduce the overall cost of care for the patient. Your revenue cycle technology should offer you claim management tools that make it easy for your team to optimize clean claims.
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The Impact on the Patient
Implementing quality revenue cycle technology and improving patient interactions is a huge part of improving the overall patient experience and growing your practice. Working with your patients so that they understand and feel prepared to pay their bills will encourage them to keep coming back instead of being afraid of unknown costs. The impact on the patient is that they are more likely to engage with their providers if they feel prepared and more likely to refer others to your practice.
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