Micro-segmentation of patient accounts and machine learning equip healthcare providers to shift to an ROI-focused approach to patient collections -- while maintaining empathy improving patient engagement.
While triage around COVID-19 continues, patient bills are going to pile up, cash on hand is going to dwindle and a more significant number of patients will struggle to pay their medical bills. Now is the time to be strategic and truly commit to being a flexible payment partner for patients. The starting point? Data analytics. Which easily dovetails into machine learning, both providing a powerful advantage for patient collections.
Providers of all sizes, as well as RCMs, will be challenged in 2020 to drive better results in patient collections. Here are six ways to maximize patient payments. They might require some data science, but Sift makes that accessible.
For the patient revenue cycle, when, how often, and the method of outreach have a direct impact on dollars collected. But nobody is talking about contact cadence....