Enhance Patient Payment Collections with These Tips

Patients are now responsible for paying a larger portion of their medical bills than ever before. That means you’re in charge of collecting those payments. The easier you make it, the more likely they are to pay in a timely manner – both before and after they leave your office.

Barriers to timely payments

Patients cite many factors for lack of payment, but the main concerns are: no payment plans and confusion surrounding statements or payment policies. Eighty-five percent of providers say post-visit payments are difficult to collect.

Collecting payments at the time of service through fast and integrated payment processing software improves cash flow and increases patient awareness about what they owe and how they can pay. This would be a good opportunity to discuss setting up a payment plan for large balances, or implementing recurring payment options. You can offer to email patients statements and reminders, as well. 

What are the best ways to develop a patient payment strategy?

On average, patient bills sit in Accounts Receivable for 60+ days before they’re paid.3 But you don’t have to wait – your Trizetto system is already equipped with integrated payment processing capabilities through TransFirst®! You can:

  • Collect past-due balances at appointment scheduling 

  • Verify insurance eligibility and estimate patient payment prior to treatment 

  • Discuss how patient will pay for service before they leave your office 

  • Collect co-pays and balances directly through Trizetto

  • Offer easy patient payment options 

  • Offer payment plans and incentives for one-time payments 

  • Send statements via email to reduce time between service and payment

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TriZetto Provider Solutions® Powered by Cognizant

We help physicians, hospitals and health systems simplify business processes and get accurate payments quickly. We will always look for new ways to help you improve revenue and increase cash flow. We will stay ahead of regulatory changes so your office will never struggle to keep up. All so you can focus on the one thing that really matters: doing what is best for your patients.

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