In a focus group conducted by HealthCPA, 81% of patients surveyed reported anger and frustration with medical bills. This means having answers and a plan for dealing with billing questions is essential for the overall happiness of your clients and ultimately your mental health practice.
Here are five ways to eliminate billing frustrations so your patients are happy, and your practice is in good standing.
1. Keep Clear Communication Open
The fear of the unknown can keep your patients up at night. How much do I actually owe? How much is this treatment going to really cost when all the fees are calculated? According to a 2018 Consumer Reports article, nearly 3 in 10 insured Americans had unpaid medical debt sent to a collections agency. Of those, 24 percent didn’t realize the bill was owed and 13 percent said they never received the bill in the first place. No wonder there is frustration brewing among patients!
Don’t let that be the case with your clients. Keep your bills as clear and simple as possible. Keep lines of communication open so that patients know they can come to you when they face confusion. Assure them that their concerns are being addressed, and they know what bills they have outstanding or upcoming.
A practice that keeps the client updated on the status of their billing is a practice that eliminates confusion and anxiety around financials.
2. Be Proactive
Take the high road and be proactive in addressing any potential billing issues. This way, you can head off any problems before they arise. This mindset also builds trust with patients, which leads to their willingness to pay bills on time and feel confident in those bills.
One way to be proactive it to take the time to send patient statements and using accounting software to stay up to date on your billing in the first place. A statement or bill sent late to a patient and requiring immediate payment adds pressure and stress to the billing process.
3. Educate Patients
Education can be key preventing billing frustrations. Does your mental health practice accept medical insurance? If so, are you trained and well-versed on terminology and billing codes so you can accurately educate your patients on their insurance coverage and what to expect from the billing process? Do they clearly understand co-pays versus out-of-pocket payments and when those are due if they seek treatment with you as the provider?
If you are a cash-only operation, do you practice price transparency and clearly discuss fees during the initial visit and treatment plan discussion? Do you simply send this information via email, or do you have a one-on-one conversation to make sure there is clarity around billing? By educating patients, they will be less likely to experience frustration down the road.
4. Employ Internal Medical Biller
If you have in-house office staff, make sure they are empowered to answer billing questions. A knowledgeable employee at the front desk saves tons of frustration and time for you as the medical provider after hours.
Oftentimes, a practice hires a medical biller to manage all things billing. This is the point person for all things related to patient billing. They should understand medical insurance plans and how they work. This way, they can answer any patient questions and help to resolve any billing. This person also has other expectations like:
- preparing and submitting billing data
- preparing and sending invoices
- filing documents about medical services
- updating a patient’s medical information
As a full-time employee, though, there are many costs involved. For instance, your practice must pay benefits including insurance, 401K, and more are costs that come out of your practice’s revenue. Not to mention the salary that must be available in your cash flow.
Many practices can’t afford to have this type of employee on the books. If that’s you, consider a medical billing company like Anchor Point Billing Solutions to do the job for you at a fraction of the cost.
5. Invest in Out-sourced Billing Services
At Anchor Point Billing Solutions, we provide the assistance and work of a full-time medical biller for your practice without you covering the extra costs associated with hiring one. We use our mental billing expertise to manage your practice’s invoices and keep at bay all these frustrations that your clients tend to experience.
Contact us today to learn more or to begin your partnership with the trusted mental health billing specialists at Anchor Point Billing Solutions! Our goal is to save you time and resources so you can focus on growing your practice and watching it flourish with patients who aren’t frustrated with their bill. We look forward to working with you!
Do you have any other tips to add? Share them in the comments below!