It’s a known fact that the faster and more efficient your billing process is, the more likely you are to be paid on time.
But when it comes to getting statements out to patients, the day in and day out of organizing, printing, and mailing paperwork will drain your billing team. Frankly, when there’s so much that needs to be done, stuffing envelopes shouldn’t slow down your revenue. And when you’re a behavioral health organization serving hundreds of patients, those little time losses really add up – not to mention the cost of paper and postage.
Thankfully, there’s a solution, with patient statements functionality through Ten Eleven’s eCR, you can automate this process, and your billing team can move on to more important tasks. With patient statements you can keep statements moving, decreasing the amount of time it takes to collect payment. Let’s look at what patient statements are, why they’re important, and how they work with TenEleven.
What Are Patient Statements and Why Are They Important?
Patient statements are basically medical bills and are one of the most important parts of revenue generation for healthcare organizations. These documents notify patients of what amount they owe for their treatment, explain how their insurance coverage may have affected the amount, and provide instructions for how to pay as well as when payment is due and the consequences of non-payment.
Patient statements also allow for other important communication between the patient and provider, such as listing contact information for help and offering a place for patients to update their information like home address. Some practices may use this opportunity to share important updates like welcoming a new practitioner or informing visitors of office procedure changes (think COVID).
In a world where we are constantly inundated with updates, patient statements offer a way for the most important messages from a healthcare provider to be heard through the clutter.
How it Works
In the past, these important documents were individually printed and mailed out. Of course, this process was extremely time-consuming and absorbed valuable resources – like the hours of billing staff spent on this mundane task and the price of postage.
If you’re still stuck in the drudgery of sending out paper statements, it’s a new day. As important as this function is to the profitability of your organization, automating it with available technology is a game changer. Here’s how patient statements with TenEleven works.
- Patient engines pull statements into our clearinghouse.
- Once ready, you can review statements to flag those you don’t want sent.
- After reviewing, release the batch of approved patient statements and we take it from there.
- Our clearinghouse handles the laborious task of printing and mailing.
And it’s that easy.
The Benefits of Patient Statements Functionality
Streamline your billing workflows and get paid faster with patient statement functionality from TenEleven’s eCR. Not only will you save time and money, you’re more likely to collect payment on time, which means lower accounts receivable balances and improved profitability. To learn more about patient statements with Teneleven’s eCR, schedule a demo today.