In this episode of the Billing Blueprint Podcast, we dive deep into the transformative world of multichannel billing in healthcare. Discover how offering patients flexible billing options—from emails and texts to QR codes and online portals—can boost engagement, streamline workflows, and accelerate cash flow.

We explore real-world examples, expert insights, and actionable strategies that show how a patient-centric billing approach not only improves satisfaction but also builds trust and drives revenue for practices.

Tune in to learn how BillFlash’s integrated solutions are shaping the future of healthcare billing and get inspired to elevate your practice’s efficiency.

Transcript

Narrator: 00:00

Welcome to the Billing Blueprint Podcast, your go to resource for innovative medical billing solutions. Each episode we explore the latest industry trends and share proven strategies to help your practice streamline operations and get paid faster. Now here are your hosts, Brad and Sarah.

Sarah: 00:22

 Hey everyone. Welcome back. Today we're going to be taking a deep dive into multi-channel billing in healthcare. We've got a whole bunch of research reports, expert opinions and even some real world examples to really help you understand why this is way more than just sending invoices. By the end of this, you'll see how it's all about connecting with patients in a way that boosts their satisfaction and really helps practices thrive. And trust me, there are a few eye opening facts in here that might surprise you. So let's get started.

Brad: 00:52

 Yeah, it's a fascinating area where patient expectations and practice efficiency, they really intersect.

Sarah: 00:58

 Okay, so first let's paint the picture of the challenge facing medical practices today. It's no secret that people communicate and manage their finances in a ton of different ways these days. Some folks live on their phones, others prefer email, and some still rely on good old fashioned snail mail.

Brad: 01:12

 And that's the crux of the issue for medical practices. You know, this isn't a one size fits all situation and traditional billing methods just aren't cutting it anymore.

Sarah: 01:20

 Right. Practices need a reliable way to get through to every patient and make sure those bills are understood. Mpaid what happens when they don't adapt?

Brad: 01:29

 Well, they risk alienating patients and delaying payments. It can create a lot of friction in the patient provider relationship. Imagine getting a bill in a format you never check, or struggling to pay it because the options don't fit your lifestyle. It's frustrating for everyone involved.

Sarah: 01:46

 That makes total sense. So that's where multichannel billing steps in. Right. Can you break down what that means in plain English?

Brad: 01:53

 Absolutely. Multichannel billing is all about giving patients options, allowing them to receive and pay bills in ways that work for them. Think email, text mail statements, online portals, even in person payments. For those who prefer it, it's about flexibility and meeting patients where they are.

Sarah: 02:10

 So we're talking about way more than just sending an email reminder, Right? We're talking about giving patients real choices in how they interact with their healthcare billing.

Brad: 02:17

 Exactly. And it's not just about convenience either. This approach has some pretty profound implications for patient empowerment and building trust.

Sarah: 02:24

 Okay, I'm intrigued. Tell me more about that. How does multichannel billing actually empower patients?

Brad: 02:31

 When patients have control over how they receive and pay their bills, it fundamentally changes their relationship with the process. Instead of feeling like they're at the mercy of a system, they're actively engaged, they're more likely to open those bills, understand them, and pay them on time.

Sarah: 02:49

 They're not just tossing it on that dreaded pile of Deal with this later paperwork.

Brad: 02:54

 Exactly. It's about fostering a sense of partnership and mutual respect. And there's data to back this up. The Trends in Healthcare Payments Annual report found that While a surprising 74% of patients still prefer to receive paper bills.

Sarah: 03:07

 Whoa. Really? I would have thought that with everyone going digital, that number would be much lower.

Brad: 03:12

 It's interesting, isn't it? Shows you how important it is to offer those options. But here's the kicker. 85% of those same patients who prefer paper bills also want the option to pay online.

Sarah: 03:21

 So there's a big disconnect there. Practices need to bridge that gap, or they're going to leave a lot of patients frustrated.

Brad: 03:26

 Absolutely. And that's where understanding different demographics comes in. For instance, Millennials are known for their preference for mobile apps and online portals.

Sarah: 03:35

 What's driving that preference, you think? Is it just a matter of them being digital natives?

Brad: 03:39

 That's certainly part of it. They've grown up with technology at their fingertips, so they expect seamless digital experiences. But it goes beyond that. Millennials tend to be very busy and value convenience. They don't want to spend time printing bills, writing checks, or dealing with snail mail. They want to manage their finances quickly and easily from their phones.

Sarah: 03:59

 That makes sense. And if practices want to attract and retain millennial patients, they need to cater to those preferences.

Brad: 04:05

 Exactly. It's not just about keeping up with the times. It's about meeting the needs of a growing and increasingly influential patient population.

Sarah: 04:13

 So we've established that multichannel billing is crucial for patient satisfaction and staying relevant in a rapidly evolving world. But let's get down to brass tacks. What tangible benefits can practices expect to see when they implement this? I imagine there's more to it than just happier patients.

Brad: 04:30

 You're absolutely right. There are some significant, measurable advantages that impact the bottom line. For starters, you're likely to see improved patient engagement. When you're reaching people through channels they already use and prefer, those bills are much less likely to get lost in the shuffle.

Sarah: 04:47

 They're not just another piece of paper buried on a desk or getting lost in a crowded inbox.

Brad: 04:51

 Precisely. And when bills are seen and understood, guess what happens?

Sarah: 04:55

 I'm betting it leads to faster payments.

Brad: 04:57

 You got it. Digital options streamline everything. We're talking less Waiting for checks in the mail and a more predictable cash flow for the practice.

Sarah: 05:06

 It just makes the whole process more efficient. And I'd imagine it leads to happier patients overall too. Right. No one likes chasing down bills or dealing with confusing payment systems.

Brad: 05:16

 Exactly. When people have choices and feel in control, it reduces a lot of stress and frustration around the billing process. They feel heard and respected, and that builds trust and loyalty with the practice.

Sarah: 05:29

 It's almost like you're taking something that's traditionally seen as a negative experience, paying a bill and turning it into a positive interaction.

Brad: 05:36

 That's the goal.

Sarah: 05:37

 So let's get practical. What are some of the tools and technologies that make multichannel billing a reality? I'm curious about what's out there and what practices should be looking at.

Brad: 05:47

 There are some really exciting developments in this area. One of the most impactful tools is E bills, which can be sent via text or email. They provide quick, secure, and trackable notifications.

Sarah: 06:00

 That's a big step up from hoping a paper bill doesn't get lost in the mail or end up in the wrong hands.

Brad: 06:04

 Right. And what's really cool is that many E bill systems allow for automated reminders and payment confirmations, further simplifying the process for both patients and practices. But there's also the security aspect to consider.

Sarah: 06:16

 That's a good point. Security is always a concern when it comes to financial information. How do these systems address that?

Brad: 06:22

 Well, reputable E bill providers use encryption and other security measures to protect sensitive patient data. They comply with industry standards like ensuring that information is transmitted and stored securely so patients can have peace of mind knowing their financial information is safe.

Sarah: 06:36

 That's good to know. It sounds like E bills offer a lot of benefits in terms of security, efficiency and convenience. What other tools are out there?

Brad: 06:45

 Another tool that's gaining a lot of traction is QR codes. They're a brilliant way to bridge the physical and digital worlds.

Sarah: 06:52

 I love QR codes. They seem so simple, but they're incredibly effective at connecting things. You see them everywhere these days.

Brad: 06:59

 Exactly. Imagine a patient receives a mailed statement, but it has a QR code printed right on it. They can scan it with their phone and be instantly connected to the online payment portal. It removes so many barriers to payment.

Sarah: 07:12

 That's a great example. Talk about convenience. What about those PDF inserts I've seen mentioned in some of the reports? It seems like there's a lot of potential there.

Brad: 07:20

 Absolutely. PDF inserts that accompany mailed statements are a fantastic way to add value beyond just the bill itself. You can Include educational materials, promotions for other services, or even just a friendly message from the practice.

Sarah: 07:33

 It's a chance to build that personal connection which can be so important in healthcare. So with all these great tools available, where do you even begin? How does a practice actually go about implementing multichannel billing? Is it a complicated process?

Brad: 07:49

 It doesn't have to be. The key is to approach it strategically. The source material we're looking at outlines a really clear three step process.

Sarah: 07:57

 Okay, let's break it down. What's the first step?

Brad: 07:58

 The first step is all about assessment. Practices need to take a long, hard look at their current billing and communication methods. What's working, what's not? Where are the opportunities to improve?

Sarah: 08:09

 It's like taking inventory before going grocery shopping. You need to know what you already have before you can figure out what you need to buy.

Brad: 08:16

 That's a great analogy. Once you have a clear understanding of your starting point, you move on to step two, which is integration. This is where you bring in those new tools and technologies. We were just talking about E bills, QR codes, online portals, and make sure they work seamlessly with your existing practice management systems.

Sarah: 08:35

 So it's not just about adding a bunch of shiny new toys. It's about making sure they actually integrate with the systems the practice is already using.

Brad: 08:43

 Hold on. You mentioned practice management systems. Can you clarify what those are for our listeners who might not be familiar with that term?

Sarah: 08:49

 Of course, practice management systems, or PMS for short, are essentially software platforms that help healthcare providers manage all aspects of their practice, from scheduling appointments and maintaining electronic health records to handling billing and processing payments. They're the backbone of a modern medical practice.

Brad: 09:10

 So when we talk about integrating multichannel billing, we're talking about making sure these new tools can talk to the practice's existing pms.

Sarah: 09:18

 Exactly. You want a streamlined and efficient system for both your staff and your patients. You don't want to create more work or confusion by introducing tools that don't play well together.

Brad: 09:27

 That makes a lot of sense. Okay, so we've assessed our current systems and integrated our new tools. What's the final step in this implementation process? Step three is all about options, giving your patients a variety of ways to pay their bills. This could include traditional methods like paying in person or by mail, as well as online options like credit card payments, bank transfers, or even mobile payment apps like Apple Pay or Google Pay.

Sarah: 09:51

 So you're saying it's not an either situation? It's about providing a wide range of choices so patients can pick what works best for them.

Brad: 09:58

 Precisely. And the beauty of multichannel billing is that it's incredibly customizable. There's no one size fits all approach. The best systems adapt to the unique needs of each practice and his patients.

Sarah: 10:09

 Okay, so it's flexible and adaptable. That's good to hear, because every practice is different. But wouldn't offering so many options make things more complicated on the practice's end?

Brad: 10:18

 That's a valid concern. But remember, integrating these tools with your PMS is key. A good system will streamline these processes, not complicate them. It's about making things easier for your staff as well.

Sarah: 10:29

 That's reassuring. It sounds like there's a lot to gain from embracing multichannel billing. But are there any potential downsides or challenges that practices should be aware of? I mean, no system is perfect, right?

Brad: 10:41

 You're absolutely right. Like any new system, there can be a learning curve involved in implementing multichannel billing. Staff may need training on how to use the new tools and technologies, and there may be some initial costs associated with setting up the system.

Sarah: 10:57

 So it's an investment both in terms of time and resources. I can see how some practices might be hesitant to take that leap, especially if they're already stretched thin.

Brad: 11:06

 That's understandable. But in the long run, the benefits far outweigh the challenges. We're talking about increased efficiency, improved cash flow, and happier, more engaged patients. All of which contribute to a healthier practice overall. It's about shifting your mindset from seeing this as an expense to seeing it as a long term investment in the success of your practice.

Sarah: 11:24

 I see your point. You're not just solving a problem. You're creating a better experience for everyone and potentially saving money in the long run by reducing administrative burdens and late payments.

Brad: 11:33

 Exactly. And let's not forget about the potential for innovation. As technology continues to evolve at a rapid pace, who knows what exciting new channels and tools might emerge to further enhance the patient billing experience. This is just the beginning.

Sarah: 11:50

 It's an exciting time to be in health care, that's for sure. There's so much potential to leverage technology to improve how we deliver and experience care.

Brad: 11:58

 It certainly is. And it's inspiring to see practices embracing new ways to connect with their patients and make the billing process more human centered.

Sarah: 12:07

 I love that it's not just about collecting payments. It's about building relationships and making people feel valued, even when it comes to something as mundane as paying a bill. It's about recognizing that patients are people first, not just numbers on a spreadsheet.

Brad: 12:20

 Couldn't said it better myself.

Sarah: 12:22

 Well, I think we've covered a lot of ground today. We've explored the why, the what and the how of multichannel billing.

Brad: 12:27

 We certainly have.

Sarah: 12:28

 For those of you listening, you're now armed with a deeper understanding of multichannel billing. What it is, why it matters, and how it can transform the way medical practices interact with their patients. And hopefully you've picked up some valuable insights that you can apply to your own work or even just to your own healthcare experiences as a patient. It's clear that multichannel billing is more than just a trend. It's the future of patient communication in healthcare.

Brad: 12:55

 Absolutely. And as we've discussed, the implications extend far beyond simply collecting payments. It's about creating a more patient centric approach that prioritizes choice, convenience and transparency.

Sarah: 13:08

 And ultimately, it's about building trust and strengthening the relationship between patients and their healthcare providers. Instead of being a source of friction, billing becomes a touch point that reinforces that relationship.

Brad: 13:18

 Exactly. It's a win win for everyone involved.

Sarah: 13:21

 So as we wrap up this deep dive, I want to leave you with a final, thought provoking question to ponder. As technology continues to evolve at an unprecedented pace, what new channels and tools might emerge to further enhance the patient billing experience? What does the next generation of multi channel billing look like?

Brad: 13:40

 That's a fantastic question to leave our listeners with. The possibilities are truly endless. We've already seen such incredible advancements in recent years, from mobile payment apps to AI powered chatbots that can answer billing questions and guide patients through the process.

Sarah: 13:55

 Maybe we'll see even more personalized and interactive billing experiences that cater to individual patient preferences and learning styles. Imagine a system that adjusts the level of detail or the communication style based on the patient's needs and comfort level. It's fascinating to imagine what the future holds. The key takeaway here is that the healthcare industry is constantly evolving and those who embrace innovation and adapt to changing patient needs will be the ones who thrive.

Brad: 14:21

 Well said. It's an exciting time to be a part of this transformation.

Sarah: 14:25

 So there you have it, a deep dive into the world of multichannel billing. You're now not just informed, you're equipped to have more productive conversations about improving healthcare billing for everyone.

Brad: 14:37

 It's been a pleasure exploring this topic with you.

Sarah: 14:39

 Likewise, and to our listeners. Thanks for joining us on this journey.

Narrator: 14:44

Thanks for tuning into the Billing Blueprint podcast. For more insights or to dive deeper dive deeper into today's topics. Head over to billflash.com. Don't forget to subscribe and we'll catch you next week with more strategies to keep your practice running smoothly and getting paid faster.

Sources:

The Future of Patient Communication: Why Multichannel Billing Is the Key to Patient Satisfaction