We all know that patient communication is important. But did you know that it can also have a big impact on your revenue cycle?
How Patient Communication Affects Your Revenue Cycle
Good patient communication leads to better patient engagement. And when patients are more engaged in their care, they’re more likely to follow through with treatment plans and make appointments. This, in turn, leads to fewer denials and faster reimbursement.
Patient communication also affects (and improves) your revenue cycle in other ways. For example, clear and timely communication can help reduce the number of patient complaints and billing inquiries. Then, your revenue cycle speeds up and your time to collect can be drastically reduced.
With all of this in mind, it’s important to remember that patient communication is a two-way street. In order to have successful conversations with patients, you need to be able to listen as well as talk. This means taking the time to understand each patient’s unique needs and concerns.
(Visit this post next to learn how physicians can improve their medical billing process for patients)
Strategies for Improving Patient Communication
So how can you improve patient communication at your practice? Here are a few ideas:
- Make sure your staff is properly trained on how to communicate with patients. This includes everything from greeting patients when they come into explaining medical procedures in layman’s terms.
- Use technology to your advantage. There are a number of patient engagement tools available that can help you connect with patients. For example, you can use patient portals for appointment reminders, test results, and bill payments.
- Simplify your patient forms and make sure they’re easy to understand. Take the time to review your patient forms with patients and make sure you have a financial policy in place to review at the time of an initial appointment. Making sure they understand what they’re signing is key.
- Make a good first impression. Greeting patients warmly and making them feel welcome in your office sets the tone for the rest of their visit. This encourages open communication by creating an environment where patients feel comfortable asking questions and raising concerns.
- Be responsive to patient needs. If a patient has a question or concern, take the time to address it. This shows that you care about their experience and want to ensure they have all the information they need.
- Take the time to get to know your patients and build relationships with them.
By following these tips, you can improve patient communication and, as a result, improve your revenue cycle. Better patient communication leads to better patient engagement which leads to higher reimbursement rates. It’s a win-win for everyone involved!
Other Ways to Improve Your Medical Revenue Cycle
Patient communication is just one important part of improving your revenue cycle. Other ways of doing this include:
- Streamline your patient intake process
- Automate your billing and coding
- Review your payer reimbursement & contracts annually
- Hire a medical billing service
All of these strategies can help you improve your revenue cycle so you can get paid faster and reduce denials. If you’re looking for more ways to improve your revenue cycle, contact RevStream Services today. We’d be happy to discuss how we can help!