Did you know that patients satisfied with your billing process are five times more likely to recommend you to their family and friends? According to that same report from Connance, when the patients were satisfied with the billing, they were also twice as likely to recommend the healthcare provider.
It’s important to remember how critical this final interaction with your practice can be on the overall patient experience. Even after receiving great care from a clinician, if a patient has a jarring billing and collections experience, it’s what they will remember most.
According to medisysdata.com, a complex billing experience is a major source of frustration for 70% of patients. Of this group, 65% of patients even consider switching to a new provider if it means an easier billing and collections experience.
So, where do we go from here?
We’ve talked about the different billing options for a physical therapy clinic and we’ve even outlined the benefits of outsourcing billing services for your practice. But let’s approach this from a more people-centric perspective. How can billing affect patient and staff satisfaction?
Billing Benefits From the Patient Perspective:
Patients Get the Care They Deserve
Simply put, when someone else is handling the billing and collections, you’re free to focus on your expertise: delivering the best patient care possible. This quality, personalized care is what sets private practices apart, so don’t get bogged down by trying to be the clinician and the biller. When billing is outsourced, it frees up patient flow because billing inquiries can be passed to the experts so your staff can stay present for a courteous, attentive in-house experience.
Get the Results they Expect, Faster
Patients don’t want to find out that there is an issue with their insurance or bill. Outsourced billing puts a team of experts on the case for submitting claims quickly and accurately – which can save you a lot of time and money in the long run. This not only reduces denied or regenerated claims, but it can maximize reimbursements for your business as well. This keeps the patient out of it and lets them focus on their home program requirements or next appointment.
Billing Benefits from the Staff Perspective:
Take the Billing Pressures Off Your Staff
Your private practice runs best when three elements are operating efficiently and effectively: your people, your product and your processes. You can create a product and a process, but you must nurture a person to bring out the best in them. Using a billing service for your physical therapy clinic is a great way to take the pressure off your staff and eliminate the need to stay up-to-date on the complexities of every insurance and their processes.
Giving Back Time to Your Staff Gives Back Money to Your Business
Outsourcing billing lets everyone do what they do best: help people. Your front desk doesn’t want to juggle the demands of greeting patients in person and on the phone with the burden of tackling claims and billing issues. Outsourcing billing can replace the cost of a FTE but without all the PTO, sick days or turnover. At the same time, it lessens the demands of your actual FTEs so they can go on vacation without tying up your billing and collections.
Should You Outsource Your Physical Therapy Billing Services?
We think it’s an operational advantage that every physical therapy owner should consider when looking for ways to optimize their practice.
That said, it’s a big decision that (as we mentioned earlier) has a huge impact on your overall patient experience. We have a wealth of resources to help in the decision-making process. You can start here to learn more.
3 Quick Ways to See if MEG Billing is Right for You
- Download our free Billing Toolkit
- Fill out our Billing “Stress-Test” Quiz
- Schedule your free Billing Assessment