Hmm… This Article Looks a Little Dated
Why not watch a more recent webinar on patient collections instead?
We have received a large number of support calls from new office managers that have recently taken over a practice and they are ready to pull their hair out because the aging report for their patient balances is through the roof. A couple of years ago, I wrote an article titled “Where’s my money?” You can click here to read the article and recap the valuable information it contains. In that article, we discussed the simplified method of generating a patient billing cycle. You must admit that if reconciling your aging reports is not something you do regularly when you do generate your patient statements it can be a nightmare. If you want to get your accounts receivable in check it’s not enough to just send your patients the bill, but now you have to collect what’s due.
The only reason why a business sends a bill to a customer is that they would like to collect money from them. Take a look at your aging report. What is your total for patient balances less than 30 days past due? The total for patient balances 30-60 days past due? What is the total for 90 days past due? If your greater than 90 days past due total is highest then look to see how many times your patients have been billed. A record is kept in your patient’s account module of how many bills you have sent to them. Sometimes, the patient may have every intention of paying their bill but sometimes bills get misplaced or overlooked and now their balances fall into the over 90 days past due category. No one likes to be told they owe money but the easier you make it for your patients to pay the more likely you are to be paid on time. Do you include self-addressed envelopes or return envelopes with your bills? Do you give the option for your patients to pay with a credit card on their statement? Can they pay online? The more options you have to make it easier for your patients to pay you quickly after receiving their bill, the lower your great than 90 days total will be. Luckily for you, Practice-Web has the solutions for all of your billing needs.
Practice-Web has taken it a step further and simplified the process of collecting patient payments. Your practice can now offer Pay-by-Text to your patients.
Practice-Web has partnered with ProPay, a TSYS company, to offer you an affordable, easy-to-use option for collecting payments from your patients. If you have a smartphone and a wireless contract the chances are that you receive a text message every month letting you know that your bill is ready. You can conveniently pay your bill through the text any time, anywhere. Now, you can offer this same convenient payment method to your patients.
Don’t worry we aren’t selling you anything because with ProPay there are no monthly fees, just your transaction fee which in most cases is already lower than most other credit card processors. We will even give you a free card swiper for signing up. There’s nothing for you to buy, no setup fees, just a simple service that will help you make it easier for your patients to pay their bills. If you would like to see how it works just click here. You can also call 800-845-9379 ext 701 for more information.
Happy Collecting 😉