May 4, 2022

Incredible Interconnection Between A/R, Patient Engagement, and Patient Statement Detected

Febien Catlin

Are you still manually billing your patients? It may be time to digitize certain aspects of your patient statement services. According to the latest data, 65 percent of consumers prefer to get their bills online. While most practices still print and mail bills. In a recent survey, 78% of patients said they would like to access information from their physician online. So it is clear that e-statements are necessary to survive in this digital world, and switching to electronic statements can improve patient engagement and collection.

How can electronic statements help?

More medical practices are shifting to digital and paperless processes, and it's time you did the same. The 2020 Trends in Healthcare Payments reveals that 75% of patients would like to receive an electronic statement instead of traditional paper statements.

The way you send out patient statements in medical billing can reduce your overhead costs and streamline your billing and collection process. 

The efficiency of your patient statement services is as important as the quality of care you provide. It is crucial to ensure the speed and accuracy of patient services, especially when it comes to medical billing. Electronic statements allow patients to access their billing and financial statements online. The medical billing statement can be saved, downloaded, and printed when necessary.

How can your practice increase patient engagement by using e-statements?

E-statement solutions can help facilitate quick payments while eliminating the guesswork. Using electronic patient statement services reduces postage costs and lets you meet patient preferences. 

- It increases patient engagement by providing patients with a simple way to track their medical bills. 

- It encourages patients to pay you faster by offering effortless payment channels. 

Why is patient engagement important, and how does it reduce A/R?

Effective engagement can reduce accounts receivable and encourages timely and correct payments. It's not uncommon for patients to forget their appointment or payment dates, resulting in delays. You'll need an effective patient engagement solution to send regular reminders to the patients and prevent such issues.

By ditching paper-based processes in favor of e-statements, your practice can boost engagement and improve A/R as it reduces operational costs and raises productivity. This helps you retain more patients and enhances their overall experience with your practice.

AnodynePay offers patient statement services that are clear, fast, and concise. This modern solution  makes it much easier for your practice to send e-statements in just a few clicks to increase cash flow and collections.

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