Improve patient satisfaction and payment collection as we learn how multichannel billing can change your practice's patient communication.
Not all patients manage their bills and payments in the same way—some patients check their email daily, while others have an overflowing inbox. Some check their mail and answer letters, others don't open paper mail at all. Some respond to text messages while others glance and forget. That is why there is no one perfect billing solution for effective patient communication. The same is true for how patients pay. Whether they pay online, write checks, or need a payment plan, no two patients are the same.
These variations pose a unique challenge for medical practices in keeping patients informed and satisfied with their billing experience. No patient wants to miss an important billing notice, but one channel for effective patient communication simply cannot be relied upon. This is why medical practices rely on multi-channel billing—to reliably reach patients with their billing statements and to ensure patient satisfaction with the billing system.
Understanding Multichannel Billing
Your practice can accomplish modern billing in many different ways, but one thing is clear—to effectively collect patient balances, practices must meet the demands of varying patient preferences. Multichannel billing provides a versatile and adaptive solution for improving patient communication.
What Is Multichannel Billing?
Multichannel billing allows patients to receive notice and pay their bills over different channels. This way, they can interact with their medical bills in whatever fits best into their flow and their usual financial management methods. The channels may include:
Notification via:
- Mailed billing statement
- Text message
- In-person communication
Payment methods:
- Paying in the office
- Paying over the phone
- Paying through an online portal
- Paying by check in the mail
Why It Matters in Healthcare and Dental Practices
Patients have diverse preferences in how they receive and pay bills. Many would prefer mailed bills but still want to complete their payments online.
- 74% of healthcare consumers prefer to receive medical bills by mail, but the majority (85%) prefer to pay their bills online (Trends in Healthcare Payments Annual Report)
- 85% of millennials (now 27-42) would download a mobile app or use an online portal to pay medical bills. (Ibid)
Multichannel billing ensures that practices meet varied patient preferences, enhancing patient communication and satisfaction.
The Benefits of Multichannel Billing for Patient Communication
Multichannel billing meets patients where they are most active. Patients have different lifestyles regarding communication and technology. It's important to reach patients within channels they find familiar and use often so that billing statements are not missed and payments are easy to make.
Improved Patient Engagement
Using multiple communication channels and available billing methods increases the likelihood that patients will receive, understand, and act on their medical billing information. You want to use a patient communication method that they check and respond to often, and that can be different for each person.
For example, older patients are more likely to read their mail and answer emails. Younger patients are more likely to respond to text messages. Most patients today typically pay their bills online, but many are willing to get a link or QR code from a printed bill to do so.
- Text message billing can increase payment rates by 30% (The Journal of Medical Internet Research)
Reduced Payment Delays
Patients pay bills when they receive them through an often-used channel, and when payment is available through their usual methods. Payment delays occur when billing statements arrive through channels a patient doesn't monitor or when there are hurdles to paying the bill.
Offering multiple ways to pay, including in-office, phone, and online payment portals, can reduce payment delays and improve cash flow. This variety helps patients streamline a quick and convenient transition between billing statements and completed payments, resulting in quicker and more consistent payments for your practice.
Enhanced Patient Satisfaction
Multichannel billing also enhances patient satisfaction by empowering patients with choice. They can choose the billing route that is the easiest for them, eliminating potential obstacles to payment completion.
Key Tools for Effective Multichannel Billing Communication
Multichannel billing consists of two halves: patient communication and payment. To ensure effective medical practice billing, first, you want to develop multiple communication channels to reach patients through channels where they are most active and responsive.
eBill Notices via Text or Email
eBill Notices are HIPAA-compliant digital notifications sent via text or email to notify patients that their statements are available to view and pay. These are sent automatically through your practice billing software. Implement eBill Notices to send reminders and bills directly to patients' preferred digital channels, including their email inbox or a text message.
Digital reminders help with receiving timely patient communication, reducing the delays of physical mail and the chances that an error might be overlooked. Because many patients check and clear their digital inboxes regularly, these bills are more likely to provide a quick payment response and keep patients well-informed.
QR Codes on Mailed Statements
Physical mail has a 90% open rate, as many people will curiously open their mail even if writing letters has fallen out of fashion. This means that mailed statements have a high rate of being seen. However, most people do not want to pay by check through a return envelope. The answer? A printed QR code that contains a personalized link to your payment portal allows patients to pay quickly online by simply scanning the code with their phone.
QR codes bridge the gap between traditional mail and digital payment, offering convenience and speed.
PDF Inserts With Mailed Statements
You can also send customizable PDF inserts with mailed statements. These colorful and detailed printouts can provide clear billing information, educational materials, or promotional offers in a format that's easy to save and reference.
PDF inserts add value to patient communication by offering additional information or resources that can enhance patient understanding. They can also serve as marketing tools to inform patients of new services.
Implementing Multichannel Billing in Your Practice
You can follow these simple steps if you're ready to implement multichannel billing for your medical practice and patients.
Assessing Your Current Patient Communication Channels
Start by evaluating the current billing and patient communication methods in your practice. Make a list of optimal channels and payment methods, then identify gaps you are not providing or opportunities to improve your multichannel strategy.
Integrating New Tools and Technologies
Explore new tools like eBill Notices, QR codes, and PDF inserts to enhance your existing billing process and make it more accessible to all of your patients. Seamless integration with your current practice management systems can enhance efficiency and patient experience.
Offer Multiple Ways to Pay
Implementing multiple payment options allows patients to pay their bills anytime and anywhere, offering convenience and flexibility. Whether they prefer to pay in the office, use a credit card or check, or make payments through an online portal, these options cater to various preferences. Additionally, the option for automated payments ensures that bills are paid on time without the hassle of manual processing.
By providing these flexible payment methods, your practice can enhance patient satisfaction, reduce payment delays, and streamline the billing process, making it easier for everyone involved.
How BillFlash Can Help You Transition to Multichannel Billing
BillFlash has considered the needs of modern patients and medical practices when it comes to billing statements and streamlined bill payments. Our solutions can help you easily upgrade to multichannel billing to improve your cash flow and patient communication.
Comprehensive Billing Solutions
BillFlash offers a suite of tools designed to support multichannel billing communication and payments.
Multichannel Billing Communication Channels:
- eBill Notices
- Text messages
- Mailed Statements With QR Codes
- PDF Inserts
Multichannel Billing Payment Options:
- RequestPay – Send a request for payment before the service is rendered
- OfficePay – Pay in person in the office
- OnlinePay – Pay online through a payment portal
- FlexPay Patient Financing – Get paid upfront while your patients make monthly installment payments
- PlanPay – Allows patients to spread payments out with a payment plan (note, you do not get paid upfront with this option)
- AutoPay – Automatic payments can be made whenever there is a balance on the account
Tailored Support for Your Practice
BillFlash is also highly adaptable. You can customize the available solutions to fit the specific needs of your practice. This ensures smooth implementation, software integration, and improved patient communication in one simple process.
Unlock Your Billing Potential With Multichannel Billing
Multichannel billing can help you connect with patients, providing more accessible billing communication and payment options. This will help you improve patient satisfaction and your practice's rate of fully paid medical bills. Schedule a demo with BillFlash to learn more about our billing, payment, and collection software, and how it can help your practice implement a successful multichannel billing strategy.