When patients get a bill to pay, whether it’s from a lab, provider, or hospital network, there are a couple of items that can present obstacles when collecting.
- Do I understand my bill?
- Is there any easy way to pay?
- Can I make a payment toward the balance and keep track of what I owe to finish payments on time?
If any of the above challenges exist, patients often ignore their financial commitments and delay payments. iConnect focuses on providing patients with straight-forward, simple, and personalized payment terms. iConnect offers options to best accommodate the patient. Here is how to improve collection rates:
Patients often get overwhelmed with their medical bills which leads them to not paying at all. Having payment options helps patients adjust to the system with less difficulties while motivating them to start paying their bills in a timely manner. Payment options are faster for patients, which increases satisfaction. Because payment options come with same-day payment, the process and payment benefits everyone.
Not only does iConnect offer easy payment solutions for patients, but iConnect also offers individualized engagement for patients. Payment plans help patients understand what they are paying for and when payments are due. A payment plan will break down the bill and charges, increasing affordability and reducing late payments. Patients that are offered a payment plan option, unique to them will also give them a sense of obligation to pay their bills on time.
Having real time access to a bill is key. iConnect gives patients detailed information includes total charges, total adjustments, total payments, and the total amount due. Patients know exactly what their insurance covers and what they still need to pay.
Patients that decide to pay their balance after insurance benefits can create their own payment plans as well. iConnect gives these patients the option to pay their balance in full, or pay a different amount that best fits their budget, many patients are on a fixed monthly budget and know what they can afford. Patients can even edit a payment after a payment plan has been designated. When patients feel in control, they are more likely to meet their payment date and not default.
Use iConnect to Get Your Payments on Time
Having to wait on patients’ unpaid bills can make managing your office more difficult than it needs to be. Offering payments plans will ensures patients are able to make their payments on time and you are able to keep business on track. If you want to improve your collection rates while also keeping patients satisfied, look no further than iConnect.