A More Effective Approach to Patient Payments and Financial Responsibility
Today’s world is full of hustle, bustle, and rising dental costs. Patients can quickly forget they owe a portion of their payment from their visit shortly after leaving the office. With premiums and deductibles constantly rising, higher balances end up sitting in patients’ accounts.
Outstanding Balances’ Impact on Your Operations
Outstanding balances can be caused and compounded by several different factors. Maybe they have a new plan, are generally unfamiliar with their insurance, or moved recently and haven’t received your office’s paper notices. Whatever the case may be, outstanding balances hurt the flow and bottom line of your office. Additionally, if you require patients to pay their balance before their next visit, it could even cause cancellations.
Automated Payments, Reminders, and Billing: Your Sanity Savers
For these reasons, it is in your best interest to have an automated plan for payments and billing. Having an electronic system for billing and collections makes the payment process more painless for you and your patients. It enables your patients to check their real-time balances and plan for their budget, and allows you to send payments without the hassle of making phone calls or sending notices.
In addition to an electronic payment portal, you should consider implementing an automated reminder system. While most patients may just forget to pay their bill, others might try to avoid them intentionally. Surprising them with a balance at their next visit is a great way to make patients angry. However, if they get automatic reminders, they are more likely to pay when they get the message.
Should you have patients that can’t pay their full balance upfront, you should consider offering payment plans. While collecting payment ahead of time or during their appointment is best practice, that’s not always feasible. Instead of having the front desk review monthly reports for accounts receivable, implementing a more convenient solution will help your patients stay up to date and in good standing. Payment plans with automatic drafts, electronic reminders, and a personalized portal offer them a painless experience, increasing the likelihood of returning and referring others.
Streamline Your Payment Process With Modento
The Modento App handles every aspect of the payment process, from reminders to a personalized portal with tailored communication, payment options, and incentives. Gain patient loyalty and increase engagement by offering a unique experience and enable your staff to focus on patient care and face-to-face interactions.
Karol JasikPosted on 26 October 2019
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