While workers are asked to pay more and share in healthcare costs, employers are still facing rising healthcare costs. A PricewaterhouseCoopers (PwC) report issued in June 2010 found that "for the first time, a majority of U.S. workers are expected to have health insurance deductibles of $400 or more as more employers return to pre-managed care “indemnity style” cost sharing by raising out-of-pocket limits, replacing flat-dollar co-pays with percentage-based co-insurance, and adding high-deductible health plans."
At the same time, Medicare is reducing reimbursement rates, so an increasing percentage of revenue will be coming from self-pay patients and patients with health savings accounts and high-deductible plans. This requires practices to be better at collecting directly from patients.
How automating account balance notifications can improve patient collections
Mailed reminders can easily be ignored or overlooked but once you have someone on the phone, you can figure out a payment plan or find other ways to facilitate payment.
With automated reminder calls and emails, patient account balance notifications can be sent in just minutes compared to days (when mailing reminders). By speeding up the reminders process, patients receive reminders faster and they pay their balances faster as well.