One of the biggest challenges providers face today is collecting past dues from the patients. In healthcare, the providers must wait for months to get compensated after rendering valuable service. MDBill’s patient balance estimator helps your front desk to determine out-of-pocket patient responsibility, insurance eligibility and benefit information resulting in better collections at the time of patients visits. It’s much easier to request payment when patients can see what they owe.
MDBill calculates the out-of-pocket cost for individual patients based on their individual insurance contracts. You can auto-calculate your contract allowable rates across all CPT and HCPCS codes. With accurate estimates at the time of visit, you can provide your patients with the cost transparency they now demand. It’s much easier to request payment when patients can see what they owe. Collecting patients out of pocket expenses at the time of visit helps decrease the risk of bad debt and increase in cash flow
Improve your cash flow by shedding costs involved in patient payment – no paper statements, collection calls and commission to third party agency. Produce customized patient letters containing the patient-specific estimate and which can also include current and past balances. You can reduce the statement costs, increase efficiency and cut the time delay in collection.
Patient satisfaction is the crux of the healthcare business and our goal is to narrow the bridge by providing transparency in this process, which will further strengthen the patient-provider relationship. Apart from enhancing the revenue stream, Patient Balance Estimator provides the pricing transparency that the patients demand and hence increasing patient satisfaction.
Showing patients what they owe not only sets payment expectations, it also creates an immediate opportunity to collect the payment when the patient is in the office. Avoid chasing balances later by beginning to close them at the front desk.