There are several factors that are influencing modern Patient expectations and how healthcare organizations can create a more patient-centric environment that is good for the patient and good for their business. In this blog I will address 10 specific steps that you can take in your organization to deliver high levels of patient satisfaction.
Today’s healthcare environment of increased regulations, growing patient payment liability, and risk-based pay-for-performance models and diminishing reimbursements necessitates Revenue Cycle strategies that meet industry standards. From pre-schedule to accounts receivable payment and cash posting, revenue cycle processes must be aligned in order to secure proper reimbursement from payers and patients. The following list features my view on the top 10 Pre-service Steps to a Patient-Centric Revenue Cycle which, when implemented, will drive positive financial results and improve the patient’s overall experience.
- Implement an all-encompassing strategy that measures collection goals,
workflow benchmarks , and policy adherence and key performance indicatormilestone attainment . - Post and
communicate to patients the hospital’s financial assistance, discountand prompt payment policies. - Remind patients
of their payment obligation and attempt to collect the patient portion whenperforming appointment scheduling confirmation calls. - Educate patients to
be prepared to pay for services upon arrival at the hospital or clinic. - Utilize
integrated scheduling and registration tools to handle patient visits andaccurately move patients through the billing process. - Use a
registration quality and scoring technology to accurately classify self-pay patientsat of service to improve collections.point - Employ
real-time technologies that notify registration staff of Red FlagsRule irregularities and fraud alerts. - Help
patients understand what they will owe at pre-registration, registration check out with an effective bill estimator.and patient - Partner with a
vendor who offers a cost-effective, unlimited-use real-time insuranceeligibility verifying program to checkeligibility of patient accounts at anypoint throughout the revenue cycle collection process. - Introduce a comprehensive program to help patients apply and qualify for various
state and federal financial assistance programs. - Install a
web-based patient intelligence platform to analyze real-time workflow performance. - Leverage call
center technologies to manage call volumes, improve customer service,improve time efficiencies and increase first call resolutions. - Post patient
financial services staff in the emergency department to collect co-pays,deductibles self-pay balances.and - Collect a pre-determined deposit from emergency room patients during
quick registration and reconcile total estimated payment due through a billpay estimator . - Preauthorize
credit cards and checks at the time of scheduling, registration or anyother collection checkpoint.
To maximize revenue cycle efforts, healthcare organizations need suitable technology, adequate internal work processes, experienced people and appropriate metrics. Without these pillars, organizations will struggle to operate efficiently. Focusing inward on revenue cycle best practices is crucial for maintaining operational excellence without losing sight of the impact of a positive patient experience on revenue cycle performance.
Leave a comment here with your thoughts on these 15 steps or get in touch with me directly via my LinkedIn.
Photo by David Goehring licensed under Creative Commons.
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