“Patient Friendly Billing” is an oxymoron for most patients. Despite industry-wide efforts, most billing practices are anything but patient friendly.
An exceptional patient billing process is one that is in alignment with the patient experience. One way to achieve this alignment is by creating a combined guarantor billing statement which is tied directly to all other elements of your self-pay collection efforts.
A true combined guarantor billing statement should include all balances owed by a consumer to a single health network, and should include both facility and professional charges spanning all facilities.
Health systems considering a combined guarantor billing process face an intimidating list of challenges. These can include technical challenges, such as merging data from multiple patient accounting systems which have no unique patient identifier, and political challenges such as how to prioritize allocation of patient payments.
RevCycle has developed a custom software package which effectively overcomes these challenges. By accepting the native exports from each disparate HIS system, the RevCycle software is able to create a combined guarantor level account. This not only produces the combined guarantor billing statement, but also has the basis for a combined guarantor work-flow. The result is that the overall patient responsibility balance collection efforts are in harmony with the patient’s experience.
Additional benefits of RevCycle's solution are:
- The ability to place individual encounters or charge-lines on hold without impacting the entire billing process
- The ability to accept a single repayment arrangement from the patient and have that single payment automatically allocated to or split between the various patient accounting systems according to any desired pre-defined rule set
- Providers are able to create a truly patient-friendly billing process by incorporating HFMA’s Patient Friendly Billing guidelines with the combined guarantor billing concept