What if increasing patient revenue was as easy as flipping on a switch?
Last year, one of our clients went through an EMR conversion. Due to the expected backlog in billing and potential data accuracy during the transition, they asked us to stop sending our real-time text messages and email notifications to their patients about their accounts. During the transition, paper statements continued to go out from the new EMR and online payments continued to be processed through our platform. However, revenue from patients went down during those months.
Almost a year later when the EMR transition was completed and AR processes back in place, we turned Redde’s automated text and email reminders back on. With the digital notifications being sent to patients again, payments started going up, and up, and up.
They experienced a 152% increase in average monthly patient revenue, with a first-month increase of 369%.
How would a change like that impact your healthcare organization?
These results are impressive, especially in this day and age of rising patient deductibles and copayments. What our client has experienced, and what our other clients experience, runs contrary to what most healthcare organizations are facing today.
Helping patients pay their bills on time has never been more challenging. Patients are going bankrupt over medical bills, and even being sued by hospitals across the country. It’s time for healthcare organizations to extend the same compassion and care after the visit as they do during it.
Some ways to achieve this include offering self-initiated payment plans so patients can set up a personalized payment schedule that allows them to pay at a pace they can afford. Another way is through sending reminders through email or text.
Studies have found that the average person only opens about 20% of the emails they receive. But this same average person opens 98% of their texts 1. So which inbox do you want your bill pay reminder efforts to land in?
With Redde, our patient experience focused RCM solution, you can turn text messaging on with the flip of a switch, no matter the size of your organization. And as our client saw, this flipped switch can drastically, and quickly, increase patient revenues. Which also means lower AR, lower numbers of bills sent to collections, and more patient loyalty, incumbent with the better patient experience.
So if you’re in the market for making bill pay easier for your patients (and easier for you at the same time), reach out to us at email@example.com. We’re excited to connect and help make your bill collection process one that you, and your patients love.
We help healthcare organizations, ranging from clinics to large health systems across the country to bring their patient billing processes to the 21st century.
Texting with Wixcorp is:
- No character of volume limits
- Inbound and Outbound messages
- Automated Messages
- …and so much more
Healthcare organizations using our texting platform can send bulk messages, create custom templates, have robust reporting and analytics around their communication efforts, incorporate texting patients into their revenue cycle, and can respond to patients when they text back.
Of course, all of this is safe and secure and HIPAA compliant.
If you’d like to learn more about how to use texting to simultaneously decrease your accounts receivable, increase patient engagement and retention, and make life easier for your patients and your billing teams, check out this link below:
We’re excited to help you flip the switch and increase your patient revenues.