Insurance Coverage and Communication: A Guide for Providers

Verifying insurance coverage and communication with a human touch can lead to increased revenue for healthcare practices. Learn how!
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We’re working to help close the gap in patient-to-provider engagement regarding insurance and medical billing costs.

Today, we are highlighting some powerful tools that can help providers optimize the way in which they convey pricing and billing information to their patients. Continue reading to learn why clear communication throughout the entire billing process can ultimately lead to increased revenue for healthcare practices. 

Insurance Coverage and Communication: What Do Patients Want?

In a recent report by InstaMed, 92% of consumers claimed to want to understand pricing before their appointments, yet a whopping 74% percent of consumers were still confused by their medical bills. This means that despite the demand for clarification beforehand, patients are still ending up confused after receiving their bills (i.e. are not having their expectations met). 

Pricing transparency is not only beneficial to an organization in terms of creating positive patient relationships, it is also critical to getting incurred charges paid. Often, if you find that many patients are ending up being confused by their bills. At that point, you’ll also tend to experience a slowed or even crippled revenue cycle.

Learn more about pricing transparency and the No Surprises Act.

Empowering Patients and Your Practice Revenue

That being said, it is important for you to prioritize your revenue cycle management by effectively engaging as well as empowering patients to understand their insurance policies and potential expenses, so that you as a provider can also take steps to streamline your billing process and prevent errors or miscommunications. 

Patient Payment Collection Software

If your practice is struggling with efficiently managing your current billing processes, it may be time to take a look at the software you’re using. Is it intuitive to your clinic users and billers? Does it help you refile claims early enough in the billing process to be able to refile them correctly? Better yet, does it prevent claims with errors from ever going out?

Just know that there are other options for your practice that can enable you to give your patients more clarity and therein empower your own practices growth. If you want to learn more about our RCM and Billing solutions for rehabilitation practices, take a look for yourself!

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Blogs are created for educational and informational purposes only.  The information provided does not constitute or, is not intended to constitute, legal or medical advice. When you read this information, visit our website, or access our materials, you are not forming an attorney-client, provider-patient, or other relationship with us.

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