How Digital Health Platforms Help Boost Patient Payments
Digital health engagement has become a growing trend in the healthcare industry. This is happening through Artificial Intelligence (AI), wearables, and smartphone apps, among others.
Due to the pandemic, digital tools are now appearing everywhere. There are digital health hubs like USA Rx Health Savings for Everyone. These online marketplaces offer discounted medication, thus improving access to better patient care. Then, there are also digital healthcare platforms.
These platforms are online tools patients use throughout their entire medical journey. They store everything in one place. As such, users don't have to go through many vendors to buy unintegrated/unrelated tools. They also save service providers time and money. Online patient payments and online consultations are two features of digital health platforms.
So, let's take a closer look at how these platforms can simplify patient payments.
Improving healthcare is your priority as a provider. But, you can't achieve that goal if your staff takes too much time in following up on patient payments.
Digital healthcare platforms allow you to automate the billing process. This may include debt collection messages and payment reminders. This will save you money on postage & printed statements. It will also improve your billing process to complete patient payments faster.
Offer Payment Options
Your patients want options when it comes to paying their medical bills. Before, patients pay through the mail or after their appointments in the clinics. But, today, these shouldn't be the only options for them.
Digital health platforms allow you to offer a wide range of payment options. These may include Venmo or PayPal in-app payments. Your patients also want plans and reminders that fit their schedules. Other patients wish to have their options spread out in many payments starting at a later date.
These options offer the flexibility and guarantee patients look for in service providers. Hence, they'll be more likely to stick around as loyal patients and make patient payments on time.
Most providers use all kinds of approaches to attract customers. But others use the psychographic segmentation approach. It motivates consumers by using five psychographic segments. You can get a clearer idea of what motivates them to take action to improve their health outcomes. This can be through checking their values, beliefs, attitude, and more. You don't have to focus on their demographic characteristics alone.
It also applies to making patient payments. For example, you can contact a patient after their appointment to pay their bill. This is the best option to motivate them to be more proactive in paying their bills. Many have found success in earning more patient payments through this. It also generates more revenue and reduces the number of payments that go to collections.
Healthcare is already overwhelming enough for patients. How are they supposed to tell if their bill is accurate if they can't determine what they're paying for? You can do something to help them out. Use a digital health tool to send an itemized bill to your patient.
This should detail what the insurance covers, tests conducted, procedures, and their worth. This lets patients know what they're paying for and what costs go into their care. Include the billing department's contact details for when they have questions. You can also use the platform's messaging tool.
It would also help if you take note of their payment options and due dates. Make full pricing transparency the cornerstone of your business.
Use Patient Reminders
Notification and reminder tools are there for a reason. Make use of them to let your patients customize how often they get their payment reminders. These will also help set how they'll pay once they receive their bills online.
Your consumers can opt for app notifications or text reminders. They can even choose to receive emails, depending on their preferences. Not every patient can pay immediately, so having that power to choose is crucial for them.
When it comes down to it, patients value having choices for their healthcare needs. These include making payments. You can only hope that patients will make decisions that fit their needs. This is so you can leave them with a positive experience and collect the payments you need.
Soon, integrated payments will be the norm in the healthcare industry. Integrated payments offer both Accounts Receivable (AR) automation and contactless payments.
AR automation can offload costly manual work. This will free up time for accounting staff and reduce administrative costs. Meanwhile, contactless payments will improve credit card security. They will, in turn, boost customer experience and patient safety.