Print & Mail

Patient Statement Services

By 31 March 2024April 17th, 2024No Comments
print and mail patient statement services

How to Use Patient Statement Services to Reduce Bad Debts and Collections?

The healthcare industry uses some of the most cutting-edge technologies and processes. We have overcome a lot of life-threatening diseases with continuous evolution. It is also astonishing to learn our country spent over 18.3% of GDP in 2021. With so many technological advancements and processes, the US healthcare industry is one of the largest healthcare industries in the world.

print and mail patient statement services

From healthcare staffing and administration to patient care, countless professionals work there. Billing is a vital aspect that ensures the continuation of proper healthcare services. If a healthcare provider does not receive payment, it will not be able to provide the best possible care And, not to forget, patients often have confusion about medical services.  It can create discrepancies in the payments.

Time to avoid this situation by releasing professional patient statements.

What is a Patient Statement?

Healthcare providers use patient statements as medical bills of patients who obtain medical services. These providers often hire administrative staff to manage the process of medical billing.

Practitioners and hospitals often spend much time and resources generating patient statements. In a traditional workspace, they often hire full-time professionals to create, mail, and manage the logistics of medical billings. However, many healthcare organizations use patient statement services to save time and effort.

As a medical provider, you can send patient statements in two forms;

  • Paper: It is the traditional approach where you must create physical copies of patient statements for mailing.
  • Electronic: You can share the bills electronically with the help of Email or SMS.

Generating the Patient Statements

Medical professionals often divide their patients into different groups and bill them monthly. It is one of the best approaches to ensure a consistent income flow. Apart from mentioning the amount on the patient statement, they include the practitioner’s name, address, and phone number.

Also Read: HIPAA Compliant Mailing Services

The Size of the American Healthcare Industry

The COVID-19 pandemic was one of the biggest challenges to the global healthcare industry in the 21st century. With the complete dedication of healthcare professionals and massive investment, we can finally overcome this pandemic.

The global healthcare industry might reach $665.37 billion by 2028. New players in this sector can enjoy remarkable growth opportunities. However, billing may remain the biggest challenge to ensure a healthy cash flow. To tackle this, we will help you streamline your patient statement services.

Best Practices for Sending Patient Statements

When collecting patient payments, following the best practices while sending your patient statements is vital. By adhering to these practices, you can expect timely payments and avoid patient confusion.

Never Delay the Patient Statements

With growing technological advancements, we all are becoming procrastinators. However, there’s no reason to postpone sending the patient statements. It would help if you weren’t waiting for a particular day to release these statements.

Consider sending a patient statement service when a patient acquires a balance. The possibility of collecting payment decreases with delinquent accounts with time. Take proactive steps to send timely patient statements before it gets late.

Learn What to Mention in the Statements 

A patient statement should include the practitioner’s name, address, and phone number to provide clear information to the recipient. Apart from these details, add the following information to make it easier for patients to settle the bill;

  • Mention the payment due date.
  • Include a webpage where patients can pay online.
  • Mention “Clearly Payable To” and “Address to Mail Payments”
  • Add a phone number or email to help patients to clear their billing questions.
  • Add a section for patients to mention their credit card information for official purposes.

Remove Every Confusing Information

Imagine getting into a car with dozens of controls. Will you be able to handle the car efficiently? Similarly, your patients can find it increasingly confusing when you clutter them with too much information.

Always make it easier to comprehend your patient's statements. Otherwise, people can misinterpret the information present in your bills. Don’t mention any insurance credit in the letters. It can cause confusion among patients. Before releasing the statement, consider reviewing the bill amounts and apply credits if available.

Use Both Electronic and Paper Statements

Today, you cannot undermine the importance of electronic patient statements. They are instant and easily accessible. However, don’t avoid sending payment statements to the recipients.

They are more direct and professional to create a sense of urgency among your patients. These days people are getting overwhelmed with digital clutter. Thus, old ways are now proving more reliable and effective for healthcare providers.

Also Read: HIPAA Compliant Mailing

Why Should You Consider a Patient Statement Service?

You might be curious to learn how to send timely patient statements without errors. Undoubtedly, traditional physical mail is a great way to release bills. However, it would help if you embraced the power of automation, digitalization, integration, and cost-effective measures. Enter patient statement services to streamline your bills.

Streamlined Delivery of Statements

Modern patient statements streamline your billing process and help you automate it. This way, you can avoid hiring dedicated staff and spending too much time generating medical bills.

The software will do the job of sending patient statements faster and more conveniently. You can also expect faster patient payments when they receive timely statements or invoices.

Error Proof Billing

Human errors can be taken in any mathematical calculation. Even NASA’s Mars Climate Orbiter crashed because of calculation mistakes. Consider using a patient statement service to make your medical billing process error-proof. 

There’s no need to have manual data entry while generating invoices for each recipient. This way, you can reduce the likelihood of errors in the patient statement generation process.

Cost-effective solution for Billing

As a healthcare provider, you must dedicate enormous amounts of money, time, and resources to generating manual patient statements.

When you streamline your workflows with a patient statement service, the generation, printing, and mailing costs will be reduced drastically.

High quality can help avoid hiring large teams, expensive equipment, and other processes.

Reduction of Bad Debts 

A patient statement service ensures clear communication between the healthcare provider and patients. By sending clear and concise statements, your patients will get a clear idea about their financial obligations. This way, you can reduce the possibility of overdue payments. We believe timely action always prevents bad debts.

Also Read: Patient Statements: Challenges, Tips & Solutions

Why Do You Need to Customize Your Patient Statements?

In the age of so much amazing design software, no one likes receiving plain, boring patient statements. Any communication medium can also be a marketing piece for your healthcare business. 

Also Read: Statement Printing and Mailing Services

Your choice of patient statement service must provide customization options for your medical bills.

Wait! Do I have to design each bill before sending them?

No! The vendor will help you with a collection of dynamic templates. Customize the templates according to your branding rules to create visually appealing patient statements. These mail pieces can work as great branding materials for your healthcare organization.

Must-Have Components in Your Patient Statements

To create a patient statement with a greater impact on your recipient, consider these steps;

  • Secure Patient Statement Practices: Ensure patient information is secure by following the HIPAA guidelines.
  • Give Complete Access to Patients: Personal statement information should be easily accessible to them as a first right.
  • Prioritize the Patients: The statements must be easy to understand. Patients should never have any confusion regarding their financial obligations.
  • Give Clarity About Your Brand: Your patients must understand that your healthcare organization is sending the statement. Tip: Apply your branding rules and add relevant information.
  • Payment Options: Include multiple payment options to make it easier for patients to pay the bill. For example, check payment, credit card, or other online methods.

Using Print & Mail for Sending Patient Statements 

It would help to have a reliable direct mail automation tool when printing and mailing patient statements. It would help you generate timely statements, reduce costs, and save time. This software must provide print and mail services like;

  • Generation of Statements 
  • Customization of statements 
  • Printing of statements
  • Mailing of statements

Additionally, you have to work closely with the service provider to create patient-friendly statements. This way, your recipients will have no problem understanding the bills and making timely payments. 

PostGrid direct mail software can help healthcare organizations release streamlined patient statements.

There’s no need to worry if you are using an existing CRM. Our direct mail API can integrate easily with zero-code integrations to help you generate statements within minutes using relevant data. Our clients love using real-time reporting, templates, analytics, and other features to smoothen their billing process.  

Sign up now to access our reliable patient statement service.

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