RCM tip of the day: Be proactive with payment plans

Payment plans have become increasingly important among healthcare organizations as patients seek convenient options and providers strive to collect reimbursement in a prompt manner, according to Dustin Hamilton, director of product at ZirMed.

Mr. Hamilton shared the following tip with Becker's Hospital Review: "As the portion of the medical bill paid by patients rises, more and more patients will struggle. That's why it's crucial that providers respond with immediate assistance, making it simple and easy to set up affordable payment plans which not only alleviate stress for patients, but also ensure that your organization gets paid in full. The best approach is to have an automated system for setting up and managing payment plans which allow for automatic deductions from the patient's bank account or credit card. We recommend patient payment systems that assist staff in setting up payment plans for patients while onsite as well as systems that allow patients to initiate and set up their own plans in a self-service capacity, transforming patients into empowered consumers."

Read more about patient payment methods here.

If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.

 

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