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Hospital Directors & Revenue Cycle Specialists Find Solutions & Real Value at CPSstatements.com

Thursday, October 6th 2016 9:19 am
As Director of Patient Financial Services and or your Hospitals Revenue Cycle today, you may have many things keeping you up at night, questions such as “Are we effectively training staff and implementing new EHR or Electronic Health Records systems correctly across our entire hospital spectrum?” ” How will our physicians react to Value Based Reimbursement placed by CMS or Centers for Medicare and Medicaid Services, who are now reaching an even greater portion of our bottom line…” Let us answer your next question as it seems almost a constant concern for Healthcare Directors: “How Do We Boost Patient Engagement With Billing In An Era Faced With Higher Patient Payment Responsibility, New Generations & New Obstacles In Staying Compliant?” Revenue Cycle Strategies: First let’s go back to Patient Friendly Billing (PFB), an initiative Implemented years ago to create clear & concise, easy to navigate statements enhancing the average individual’s interpretation of services received and remaining patient responsibility depending on deductions to the account by insurance payer, CPSstatements.com was at the forefront of this movement, developing understanding of how best to engage the patient. Another strategy we use is same day Print to Mail, we do this to cut down on the amount of time it takes for the patient to receive their statement. We have eliminated common mistakes made by facilities who outsource or have different locations for each step of the print to mail process which also delays your statements to be mailed. It's proven that prompt, clear, and concise statements enhance prompt payment & overall satisfaction of the patient experience. Today's Concerns & Obstacles: Perhaps now more than ever it is critical to develop a statement layout that is easy to understand and navigate by different generations. What is simple for someone in their mid-thirties to understand, may not be simple for someone who hasn’t been responsible for their own medical bills as of yet. For instance, Millennials! A tech savvy generation whom are as we speak, receiving their first medical statements to which they are responsible for remitting payments themselves. With limited history of financial liability, these individuals are solely conditioned to making payment in an automated, online platform as they do with car & cell phone payments. We have found using color to draw attention to payment options such as a website address for an online option and the use of plain language, organized dynamic message boxes that change verbiage depending on financial situations to be best practice in combination with color to substantiate the total amount due for the patient. We also have the ability to use color and or a watermark to hint subliminally to a patients advancement / aging status through the billing cycle to engage this newly financially responsible generation. We suggest the same approach to address concerns of senior citizens and Aging Baby Boomers moving toward retirement. Seniors will find the same color and organized dynamic messaging helpful in clearly understanding the total amount due and payment options. Choosing Us, Free Setup: During Free Setup , our team will analyze and offer guidance in the structure of your billing cycle to comply with these new standards while reaching your Revenue Cycle Goals. Archive: You and your team will also have the ability to request Time & Date Stamped statements from our Proof of Mailing Archive dating 1 year prior, should any situation arise where a patient claims that your hospital failed to properly notify them. Customization: By implementing our tailored and customizable PFB statement layouts & designs, you’re choosing Industry leading best practice for clear conscious patient financial communications while solving major concerns regarding patient engagement & patient satisfaction. This affects your bottom line!