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We all know that in order to improve your revenue cycle, up front payment is a necessity. In this age of consumerism, patients are starting to understand that the days of "we will bill you" are slipping away.
Yet, how you communicate up front payment policies to your patient population is critical to the success of your revenue cycle initiatives. Poor communication results in a PR nightmare.
A recent article that hit the press wires last week highlighted a troubling incident. A patient was turned away from receiving services (non-ER) because the patient could not pay in full, up front. In summary, the patient was employed, yet uninsured and was told two days before the procedure that he needed to pay $2500 at the point of service. He stated he could not gather that amount of money in such short time. They asked for a reduced amount, which he could not provide. He offered an amount that he could pay immediately and was turned away.
As a result, he took his business elsewhere and alerted the media.
This is not a unique situation. A non-profit hospital in Texas initially refused to treat a woman with leukemia who had limited health insurance unless she agreed to pay $105,000 in cash, up front. She was able to provide some payment up front, but not all, and only when her husband created a fuss, was she admitted.
How could this have been prevented?
Perhaps this payment message could have been delivered at the point of scheduling, providing sufficient time for the patient to acquire funds. Or, when the patients above offered to pay a portion of their estimated charges at the point-of-service, payment would have been accepted with a referral to a hospital financial counselor. Payment plans for the balance due with terms agreeable to both the patient and the hospital allow for a proactive approach eliminating frustration for all parties involved.
Could the hospital determine if the patient had an open line of credit? Yes, if the hospital had tools and processes in place.
What if the registrar/scheduler had been scripted along the way, handling each objection with ease and confidence, ensuring a positive outcome for both the patient and the hospital?
To send your comments or inquiries, please email Kari Kemper or visit www.revenue360.net
By Sherrie Adams, Provider Advantage
Looking back at presenter topics from two of healthcare's largest conferences of 2008, NAHAM and HFMA, what is the common thread?
Communication.
Hospitals ahead of the curve are providing top customer service. While most hospitals are hacking and trimming in desperate efforts to survive, "five-star" hospitals are taking a different approach. They are building healthcare centers with the customer friendliness of Nordstrom, the reliability of FedEx, and the transactional accuracy and simplicity of American Express.
NAHAM Key Note Speaker, Fred Lee, author of If Disney Ran Your Hospital, supports the need for hospitals to build customer loyalty by using strategies that have been successful in other industries. Lee talked about why perceptions are more important than reality, patient loyalty is more important than satisfaction, courtesy is more important than efficiency, and experience is more important than service. In sum, he encourages hospitals to "bring out the best behaviors in workers and provide the best emotional experience for patients."
Topics at both conferences show that planning for the future is necessary: leveraging self-pay kiosks, developing a patient-centric experience, achieving the right mix of technology and people, developing patient communications, bringing excellence to the front end, leveraging communication to enhance revenue cycle performance, bringing order to chaos in patient access, and bridging the patient access and revenue cycle gap.
If you include the patient in the process by providing up front communication on clinical information, out-of-pocket pricing estimates, and financial alternatives, you successfully build loyalty and enhance patient satisfaction. A satisfied patient is more likely to pay their share of the bills.
How can this be done? Empower your staff. Bring them into the process. Provide technology that helps staff communicate effectively and appropriately to your patients while simplifying the registration process.
"The world we have created today has problems which cannot be solved by thinking the way we thought when we created them."
- Albert Einstein
To send your comments or inquiries, please email Sherrie Adams or visit www.revenue360.net
Ted Tomkins
President
tedtomkins@provider-advantage.com
Experienced with the dynamics of systems applications and team management, Martin brings product direction into reality, by guiding, building and maintaining Revenue360.
Martin Tromblee
Director of Development
martintromblee@provider-advantage.com
Visit Code Green, an informative and entertaining healthcare revenue cycle blog.
Podcasts
Healthcare Matters - Listen to James Robertson interview Chris Woodhead, John Mangan and Lois Cameron on the history of Revenue360.
Exhibits
CAHAM
September 7-10
Las Vegas, NV
MAHAP
September 17-19
Lansing, MI
MUSE (Meditech) Western Regional Conference
October 22-23
Portland, OR
MUSE (Meditech) Eastern Regional Conference
November 3-5
Vienna, VA
MUSE (Meditech) Central Regional Conference
November 12-14
Louisville, KY
Presentations
CAHAM
September 7
Presentation Title: Rethink your Revenue Cycle- How to proactively know your patient
Wisconsin AAHAM
September 11
Presentation Title: Rethink your Revenue Cycle- How to proactively know your patient
NE NAHAM
October 20
Presentation Title: Rethink your Revenue Cycle- How to proactively know your patient
MUSE Western
October 22
Presentation Title: Rethink your Revenue Cycle- How to proactively know your patient
Product Demonstration: Revenue360
MUSE Western
October 23
Presentation Title: Meaningful Communication at the Point of Service
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