Healthcare organizations can improve their revenue cycle processes by addressing top billing challenges, according to TeleVox Solutions.
Three challenges to confront:
1. Pricing confusion. Ninety-four percent of Americans want healthcare providers to help them understand their medical bills, yet more than one-third of providers never discuss patient financial responsibility.
2. Forgetful patients. Thirty-six percent of patients report having trouble remembering to pay their bills on time.
3. Payment convenience. Mailing statements can cost as much as $10 per statement, whereas automated patient payment reminders cost mere pennies per notification.