Best Practices that Bring On-Time Payments -Avontix

One of the biggest problems that healthcare practices are facing is delayed payments from insurance providers. The problems related to collections regarding treatment and services provided may occur due to various reasons and these reasons could be from the side of a healthcare provider or the patients. Every healthcare facility’s aim is to improve its revenue cycle management so as to maintain its financial health and provide quality care to its patients. Healthcare providers need to follow some best practices to improve revenue cycle management by increasing the on-time payments from patients or insurance providers.

Concentrating on collections at the point-of-service is one of the most rewarding practices of revenue cycle management. It is a fact that less than 1/4th of healthcare providers collect patient fees at the point-of-service i.e. at or before service. Many of the healthcare providers even accept the fact that it gets overwhelmingly difficult for them to collect the patient fees after the service has been provided. To increase the rate of on-time payments the healthcare providers have to make the collection of payments at point-of-service a priority. Healthcare providers can hire RCM services from experts to deal with the patients regarding the payments.
Patients face a lot of problems in paying medical bills when they have to pay from their pockets and they even have confusions regarding the insurance coverage and their out-of-pocket payments. Hence, RCM services providers suggest that communicating with patients proactively and making them understand the amount payable by them and the various options available for payments will help to increase the collections. Instead of just handing out the bills to patients, the staff should be trained to talk to the patient and communicate with them the benefits of on-time payment without having any collections battle.
Having an appropriate record system in place will impact collections considerably. It’s a good idea to hire RCM services to maintain up-to-date records of the patients’ bills and payments received. This will help in identifying the patients who have not paid on-time and follow up with them for the due bills.

Avontix is one of the best RCM services providers that can help a healthcare provider with its meticulous payment records and efficient collection processes.

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