How independent practices can get patients to pay faster

Collecting payments from patients is a constant challenge for many independent practices. High deductibles, complex billing procedures, and insurance regulations make it tough for patients to settle their balances on time. 

The good news? According to Tebra's 2023 Independent Healthcare vs. Corporate and Health System-Based Providers Survey, 72% of patients report they are more likely to pay a bill immediately if they are sent a link to payment options via email or text. Digital platforms and automation play a vital role in streamlining the payment process. 

As an independent practice, or medical billing company serving independent practices, there are ways to facilitate payments in alignment with modern consumer expectations. Patients today experience quick, convenient financial transactions when they shop online or use mobile banking. They’re more likely to pay healthcare providers quickly if the process is straightforward and accessible on a digital platform they recognize.

Implementing digital payment solutions and automated processes allows practices to provide patients with the ease and convenience they’ve come to expect. Below are strategies to make the billing experience straightforward and user-friendly, encouraging faster patient payments.

Traditional paper-based billing methods can be slow and inconvenient, leading to delays in payment. A “modern, digital” approach means updating traditional methods and embracing multiple online payment pathways, reducing patient confusion and making it easier to navigate the payment process. 

Practices can modernize traditional patient billing by:

Embracing the full spectrum of digital tools can help practices position themselves as patient-centered. In a competitive healthcare landscape, a practice that demonstrates that they value billing transparency and patient convenience can inspire customer loyalty while attracting new business.

Learn about Tebra’s suite of billing tools for independent practices.

Digital communication can remind patients of outstanding balances without being intrusive. Text and email reminders provide patients with a direct link to enter payment, simplifying the workload involved in traditional billing.

Here are best practices for digital reminders:

Automated reminders also help practices stay connected to patients and encourage them to communicate about billing concerns when necessary.

Read about Tebra’s automated end-to-end workflows for medical billing companies.

According to PYMNTS, roughly 63% of consumers consider switching healthcare providers if they are not satisfied with how they’re expected to make payments. Practices that adopt a two-pronged approach — automate and streamline — will be most successful in giving patients the convenience they expect. An approach that makes payment processing efficient and reduces administrative costs will also support healthy profit margins as the patient base expands and the practice grows. 

Independent practices that modernize and streamline the billing experience will see a direct impact on the speed of patient collections. Creating user-friendly statements, providing digital payment options, and sending timely reminders enhance cash flow while fostering patient satisfaction, leading to increased loyalty and retention.

Tebra’s intuitive, purpose-built billing solution helps billing companies transform payment collections for independent practices. Comprehensive and efficient, our software streamlines patient communication, simplifies billing statements, and enables easy digital payment options. To explore Tebra’s powerful automations and other valuable features, take our tour or schedule a product demo.