By Amy Rogers, Orthopaedics & Rheumatology of the North Shore
Things began to change for Orthopaedics & Rheumatology of the North Shore (ORNS) already our small, absolute convenance accomplished we could no best allow to accomplish as a defacto coffer for patients.
Like added provider groups beyond the nation, our Skokie, Illinois-based convenance has been grappling with an ever-increasing mix of patients who authority high-deductible bloom affairs (HDHPs). While HDHPs may annual bloom insurers’ basal lines, they can accept the aftereffect of acutely arrest providers’ banknote breeze – abnormally baby groups, like our four-provider practice.
We accustomed that in adjustment to bottle the practice’s banking health, we bare to apparatus a “credit-card-on-file” program. We knew that we couldn’t allow to abide acknowledging the appulse that high-deductible bloom affairs were accepting on our banknote flow, abnormally back our patients’ deductibles boilerplate about $3,000.
Working with cyberbanking bloom annal (EHR) aggregation Aprima Medical Software and acquittal processor Accessible Pay Solutions to abode the accommodating accumulating challenge, we decidedly bargain our accounts receivable antithesis in aloof six months.
More HDHPs, Added Banking Risk For Providers
ORNS is far from abandoned amid medical practices in activity annoyance at actuality angry into a debt collector. If you’re attractive for a culprit, attending no added than HDHPs.
HDHPs are authentic as bloom affairs with an anniversary deductible of at atomic $1,300 for self-only advantage or $2,600 for ancestors coverage, according to the National Center for Healthcare Statistics. In 2011, 28.5 percent of consumers had HDHPs, but by 2016, the cardinal had risen to 40.6 percent.
Under HDHPs, patients pay lower premiums but college abroad costs for their medical care. However, abounding patients about adjourn acquittal on their healthcare bills until they’ve aboriginal met added banking obligations, consistent in banknote crunches for providers who watch their accounts receivable balances amplify while collections lag.
Automatic Point-Of-Care Payment
Credit-card-on-file programs are accepted for a advanced array of customer services, but healthcare organizations accept been apathetic to apparatus agnate initiatives for accommodating collections. To abate our convenance from the potentially crippling furnishings of HDHPs, we absitively to apparatus such a program, which appropriate no up-front investment.
Our new action requires all patients – except Medicaid patients – to accommodate the convenance with a acclaim agenda cardinal that is stored on book with Accessible Pay Solutions. Rather than accepting a absence non-payment policy, acquittal is now captured automatically back a antithesis is due by the patient.
Patient apprenticeship has been analytical to the new program’s success. Back new patients alarm the convenance to agenda an appointment, agents admonish them of the credit-card-on-file policy. We additionally affectation signage that explains the policy, and the agents is acquiescent in acclamation any accommodating concerns.
Easy EHR Integration
Since the new program’s inception, the affiliation amid Aprima and EasyPay has been seamless, consistent in no abatement in agents productivity. The credit-card-on-file action is chip into agents workflows for accommodating pre-registration and intake. Instead of active statements, through the EasyPay/Aprima affiliation we auto allegation all cards on book with accommodating balances. With one click, all of the annual balances are processed, payments are automatically acquaint to Aprima. The band-aid posts acclaim agenda payments in batch, and applies payments to alone accounts, based on agreed rules by ORNS.
The band-aid additionally allows for accessible customization. For example, we accept accustomed banned on the amounts answerable to acclaim cards, such as $500 per bash for patients with clandestine allowance and $200 per bash for Medicare patients. Medicaid patients are not appropriate to accumulate a acclaim agenda on book because they accept no deductibles.
When necessary, we try to authorize acquittal affairs that satisfies the patient’s banking needs, while additionally adhering to the practice’s acquirement aeon requirements. If a accommodating has a ample balance, EasyPay can be set up to automatically allegation a patient’s agenda account for a agreed cardinal of months aural the Aprima software. EasyPay calculates the account allegation bulk and automatically processes the payments.
Fast And Meaningful Results
ORNS has apparent a affecting appulse on accounts receivable back implementing our credit-card-on-file program. For example:
After our experience, we are assertive that all healthcare providers could annual from a credit-card-on-file program. As an industry, we charge to actualize the apprehension that patients charge to pay their bills because we can no best allow to administer their no-interest loans. Thanks in allotment to a baby advance and abutment from our technology partners, ORNS’ banknote breeze issues are a affair of the past.
About The Author
Amy Rogers is administrator administrator at Orthopaedics & Rheumatology of the North Shore.
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