Maximizing Revenue: 5 ways to Improve Treatment Acceptance, Adherence and Patient Propensity to Pay

With improved access to patient health information, expectations for knowing out-of-pocket costs prior to treatment acceptance is on the rise. By integrating these 5 strategies, healthcare practices can increase treatment acceptance by 10% and revenue by 4.5%.

Cost Transparency

Transparency is a cornerstone of patient-centric care, and Treatment Estimates are a powerful tool in achieving this. By providing patients with clear, accurate assessments of treatment costs before they commit to care, you empower them to make informed decisions.

• • Builds trust and confidence in the care you provide
  • Reduces patient anxiety about unexpected bills
  • Helps patients understand their financial obligations
  • Leads to higher acceptance rates and an increased propensity to pay

Early Payment Acceptance

Initiating the payment process early in the patient journey, ideally at the point of scheduling or registration, streamlines your revenue cycle and ensures that patients are financially committed to their care.

• • Increases cash flow
  • Reduces the risk of outstanding balances
  • Improves patient adherence to treatments
  • Reduces patient statement costs

Authorized Payment Agreements

Payment authorization agreements are a proactive way to secure payment while respecting patient preferences. Obtain patient consent to automatically process payments up to a pre-determined amount post claim adjudication. It’s a win-win situation that enhances both patient satisfaction and revenue collection.

• • Eliminate billing hassles and reduce the chance of missed payments
  • Increase patient satisfaction with convenience
  • Improve operations with forecasted revenue

Flexible Payment Plans

Affordability is a significant concern for many patients. Offering flexible payment plans can make healthcare more accessible. These plans break down the cost of care into manageable installments, reducing the financial burden on patients and increasing their propensity to pay.

• • Increase treatment acceptance
  • Support patient financial management
  • Improve patient propensity to pay

Revenue Cycle Automation

Automation is a key driver in improving both efficiency and revenue. Encouraging patients to securely store their payment information simplifies the payment process. Pair this with digital engagement strategies that send timely payment reminders and convenient payment options.

• • Enhances the patient experience
  • Increases the likelihood of payments being made on time
  • Auto-posts payments ensuring accurate reconciliation
  • Reduces patient statement costs

To fully implement these strategies, selecting the right vendor for Treatment Estimates is paramount. ClearGage offers a comprehensive and reliable solution that seamlessly integrates into your practice. With ClearGage, you can provide accurate treatment cost estimates, simplify payment processes, and enhance patient engagement. Our commitment to improving transparency and affordability in healthcare aligns perfectly with the strategies outlined here. ClearGage is your partner in optimizing treatment acceptance and revenue growth while ensuring a positive patient experience.

Learn how to meet patient expectations upfront and improve appointment uptake, treatment adherence and patient propensity to pay by meeting with one of our experts.

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