and why you should care...
Unexpected hospital fees are a shock to the patient community; often resulting in frustration with the provider. Communication with the patient before the encounter is paramount to the patient’s satisfaction as well as the facility’s fiscal success. Many providers work tirelessly to improve the front end of their revenue cycle only to see it slip into the old ways as employee turnover and time constraints in the registration area return registration staff back to the path of least resistance. Once the most overlooked position in the hospital, registration is now the key to a successful revenue cycle. Almost all successful Pre-Registration processes possess the same 5 key attributes:
Regardless of the procedure, the likelihood of contacting a patient regarding financial matters greatly diminishes after they have left the facility. Focusing on the 5 areas above helps to increase overall revenue cycle success. Many facilities are turning to companies who specialize in Pre-Registration. These companies utilize state of the art dialers, and best practice electronic communication to increase efficiency in the registration process. Companies with specially trained personnel who are compensated and turnover rates are lower. When broken down, most facilities are surprised at their cost to register a patient. MedCo utilizes the following attributes to provide world class registration:
1.Communication with the Patient Beforehand Several studies show that separating the financial encounter from the clinical encounter results in higher patient satisfaction. To do so… you have to get them on the phone first. Facilities employing manual outbound call methods either fail to reach the patient before the scheduled encounter or employ legions of registration staff that presents both financial and management strains in themselves. By failing to reach the patient, many facilities “recreate” the registration information using patient demographics from a recent visit. Failing to speak with the patient beforehand kicks the problem down the road to the onsite registration team. Doing so increases wait times for both patients and clinicians, and impacts the scheduled times for the entire day. Utilizing automated dialers, live Quality Assurance online registration portals, email, and text capabilities are a must to be successful in today’s Pre-Registration world. MedCo utilizes both technology and technique to reach 95 to 100 percent of the next day’s scheduled procedures before the encounter.
2. Ensuring Correct Patient Information & DemographicsG.I.G.O. Garbage In Garbage Out. Incorrect demographics result in a fast track to lost revenue and increased cost to collect. In short, if you don’t have the simplest information like address and phone number, how can you contact them later about their financial obligation? Return mail and skip trace costs can be decreased tremendously by confirming with the patient. Incorrect insurance information result in denials that take time and manpower to correct…not to mention timely filing considerations. MedCo confirms 100% of demographics each time a patient is registered over the phone ensuring correct information. Any corrections are made in the client’s host system.
3. Clear Communication of Expectations Expectations is a two way street. Both the patient and the provider have certain expectations about the upcoming scheduled encounter.
Trust and loyalty are the foundations of every relationship, so it is vital that both parties understand each other’s expectation before visiting your facility. MedCo’s highly trained staff communicates the facility expectations while creating a positive experience for the patient. As representatives of the client facility, the patient never knows it’s a third party.
4..Increased Upfront CollectionsYou’ve set the expectation of how much needs to be paid at time of service…ask for the money. Many registration staff members have difficulty asking for the money that may result in conflict. Many prefer to let someone on the back end deal with that. MedCo staff is trained to set the financial expectation and to ask for payment over the phone. In the instances where the patient prefers or elects to pay onsite, the expectation has been set and most patients are prepared to meet their financial obligation. When patients have been communicated an amount expected so they can be prepared, and the staff asks for that money…upfront collections increase dramatically. By outsourcing Pre-Registration patient collections have been shown to increase by over 80% in some cases.
5.Increased Patient SatisfactionHaving a highly trained staff of Pre-Registration representatives is a crucial first step to patient satisfaction. A study by the Baird Group reveals that 35% of people are less likely to return to a facility if the experience is negative the first time they speak with the facility. MedCo professionals represent your facility in a way that puts the patient at ease to complete this transaction over the phone. Patient sensitivity is the utmost goal and patients are treated with respect and are allowed to ask all questions to ensure a successful experience. Specialized professionals are dedicated to pre-registration rather than provider personnel who have multiple other tasks attempting to work best practice registration into their hectic schedule.
Completing registration beforehand minimizes the time between arrival and being called back. Schedule integrity helps ensure happy patients.
Lastly, the financial experience is separated from the clinical experience resulting in a better patient recollection of the entire encounter. Financial expectations are clearly stated and patients are not surprised at the time of their appointment.
In closing, outsourcing your Pre-Registration results in:
Call 1-844-528-4338 to speak with someone to today to find out how MedCo can help your facility benefit from outsourcing or contact firstname.lastname@example.org
Facility staff can rest easy knowing that the accountability falls into MedCo’s Hands. Outsourcing the Pre Services of front line staff a healthcare facility can save thousands a year. This decreases cost in training and staffing cost. Our highly trained staff takes the burden off of your facility, and allows more time for facility staff to complete other necessary job tasks.