In our new weekly blog series, "Dashboard Driven Decisions," we'll be examining how addiction recovery, substance abuse and behavioral health organizations can greatly benefit from monitoring patient claims electronically, specifically via the use of a claims dashboard. Electronic claims management is faster, more organized and less error-prone than traditional methods, allowing your back office to work more effectively and you, in turn, to focus on growing your business.
In our sixth installment, we examine how electronic patient billing can make automating the tracking of patient responsibility and handling payment transactions securely a breeze.
Automate The Tracking Of Your Patient Responsibility
One of the great things about electronic remittance is that patient responsibility will be calculated for you. When manually working claims, patient responsibility will be automatically allocated to buckets where you can easily monitor and track what's owed to you as the provider and decide the best way for you to pursue that amount accordingly.
Handle Any Payment Transaction Securely
Collect deductible or OOP max up front through check, cash, or credit/debit, and record where you can apply it to a patient account while avoiding typical accounting and bookkeeping. You may also set up secure payment plans or send payment requests connected to merchant banking software to consolidate information. By doing so, you can have everything available whenever you want it, all in one place.
Pure Private Pay Or Billing Related To Non-Treatment Related Services
Do you have a client without insurance who's willing to pay for treatment out of pocket, or one with partial scholarships? Or maybe you run a sober living facility with rent and other associated fees? Another great aspect of electronic billing is you can also use it to collect and track these payments via the same secure merchant banking software.
Check out our "7 Things Your Back Office Should Be Doing" webinar video and slide deck for greater insight into how dashboard-driven decisions can help you get the returns you deserve.