Improving Your Revenue Cycle Through Patient Communication

Healthcare is a delicate balance between patient care and operational efficiency. Historically, discussions around the revenue cycle in healthcare have narrowly focused on the creation and processing of patient claims. A more holistic understanding, one that pMD advocates for, views the revenue cycle as an end-to-end journey, extending from one patient visit to the next.

Communication as the Catalyst

An effective communication platform is at the core of an efficient end-to-end revenue cycle. There are two common types of conversations that we’ve seen: a message directed at the patient and a message directed at colleagues regarding the patient. Using a platform that combines both together, such as pMD, brings the following benefits:

  • Reduced Time Gaps: Effective messaging and communication can substantially reduce the time lag between a patient's visit and the point they make a payment. As highlighted by a study published by Healthcare Financial Management Association (HFMA), billing delays or miscommunications around medical charges can extend revenue collection timelines. With clear communication, patients understand their financial obligations quicker, and practices witness improved cash flow.
  • Enhanced Patient Experience: Patients who are well-informed are more likely to have a positive healthcare experience. Automated messages can notify patients about upcoming appointments, billing statements, or even educational materials related to their health. By staying connected, healthcare providers foster patient loyalty and reduce no-shows and late payments.
  • Workflow Improvement and Automation: Effective communication can also automate certain elements of the revenue cycle. For instance, patients can receive automated billing statements or reminders, leading to quicker payments. This reduces the manual load on the billing department and streamlines the end-to-end revenue cycle.

Better Communication Means Enhanced Patient Care

At its core, healthcare revolves around patient care, and effective communication is key to providing unparalleled service. By keeping patients in the loop, providers can ensure adherence to medical advice, timely follow-ups, and better health outcomes. A satisfied patient is also more likely to clear their bills on time and recommend your practice to others, contributing to overall company revenue growth. By leveraging a real-time HIPAA-compliant messaging platform, your practice will begin to improve your patients’ engagement and experience. If you’re looking for a more in-depth solution that follows the patient journey from pre-appointment to payment collection, then it is crucial to partner with an effective RCM company that understands the importance of using the latest medical billing software that offers both integrated communications and workflow automation.

How pMD® Can Help

At pMD®, our mission is to streamline and optimize the patient care episode and the revenue cycle. Through our advanced, end-to-end practice management and revenue cycle solutions, we can help practices consolidate vendors, reduce costs, streamline workflows, improve patient care and satisfaction, and collect their maximum reimbursement more quickly.

Not sure what a vendor could do to improve your behavioral health billing? Contact pMD® for a no-commitment financial impact analysis by our team of healthcare RCM experts free of charge!

To find out more about pMD's suite of products, which includes our charge capture and MIPS registry, billing services, telehealth, and secure communication software and services, please contact pMD.

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