In this episode, we dive into the evolving world of telehealth billing and how practices can adapt to this growing trend. From pre-visit billing to automation and patient communication, we explore actionable strategies to overcome the unique challenges of telehealth billing. Learn how pre-visit billing streamlines payments, why automation reduces administrative burdens, and how clear, patient-friendly bills improve satisfaction. We also discuss the broader impact of telehealth, including patient empowerment, remote monitoring, and the future of connected care. Discover how practices can embrace technology to stay ahead, provide better care, and ensure a seamless payment experience for both patients and staff.
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.
Brad: 00:21
All right, so we're diving deep into telehealth billing today.
Sarah: 00:24
Yeah.
Brad: 00:25
Going way beyond the basics. Like, how much money are we talking about here? What are the smart strategies practices are using to make this whole telehealth thing work? You with me?
Sarah: 00:34
Absolutely. This is way more than just a few virtual appointments. It's a total shift in how healthcare is happening, how it's paid for.
Brad: 00:42
Exactly. We found some pretty interesting stuff from BillFlash. They're like the experts in telehealth billing. We've got this excerpt about their PreBill service and then two articles. We'll dig into telehealth billing, how to optimize it for faster patient payments, which is pretty straightforward, and telemedicine strategies for small practices, because, let's be honest, small practices, they need some extra help navigating all this new stuff. But first, let's talk big picture. The telehealth market is expected to hit almost $200 billion by the end of this year.
Sarah: 01:12
And that's just the tip of the iceberg. Projections show a $368.7 billion increase between 2024 and 2028. That's a compound annual growth rate of over 40%. This isn't just a fad. This is a complete change in healthcare.
Brad: 01:27
Wow, those are some serious numbers. But what does this mean for, you know, the average practice?
Sarah: 01:33
It means opportunity, but it also means they have to adapt quickly. Telehealth is going on. Mainstream patients are demanding it. They want the convenience, the flexibility. I mean, think about it. You'd probably use telehealth yourself.
Brad: 01:45
Oh, absolutely. I had a telehealth appointment just last month. It was so much easier than going to the office. But here's the thing I've always wondered about. How do practices actually get paid for these virtual visits? It can't be as simple as billing for an in office visit. Right?
Sarah: 02:01
You're right. That's a crucial point. The technology has jumped forward so fast that billing hasn't always kept up. We have all these awesome virtual platforms, but then practices are stuck with these old billing systems that just weren't built for telehealth. It's like a bottleneck.
Brad: 02:15
So what are some of the specific challenges practices are facing with telehealth billing?
Sarah: 02:19
Well, you've got all these different kinds of virtual visits, video consultations, remote monitoring, eConsults. And each one has its own coding requirements. Then you have to figure out all the different payers. Medicare, Medicaid, private insurers. They all have different rules and reimbursement rates. And then there's the whole challenge of collecting co pays remotely. It can be a mess.
Brad: 02:40
It sounds like a recipe for headaches and lost revenue. So what can practices do to make sure they're getting paid for their telehealth services?
Sarah: 02:48
One of the best solutions is actually pretty simple. It's called pre-visit billing.
Brad: 02:53
Pre-visit billing. Tell me more about that.
Sarah: 02:55
It's about getting paid upfront. Instead of waiting until after the visit to bill the patient, they send the bill before the telehealth appointment happens.
Brad: 03:02
Interesting. So how does that work? Are they sending paper bills in the mail? That wouldn't be very convenient.
Sarah: 03:06
No, it's all electronic. The patient schedules the appointment and then they get a text or email with a link to a payment portal. They can see exactly what they'll owe and pay right then and there using their preferred payment method.
Brad: 03:18
That makes sense. It's like ordering takeout online. You pay upfront and then just show up and enjoy your meal. Or in this case, your virtual doctor's visit.
Sarah: 03:26
Exactly. And it's catching on. In the first quarter of 2024, 23% of patient balances at hospitals were paid before care. That's up from 20% in 2022.
Brad: 03:36
That's a pretty big jump. So patients are getting on board with this and it's making billing easier for practices. I bet BillFlash has a solution for this.
Sarah: 03:45
They do. It's called BillFlash PreBill, and it automates the entire process. It connects with practice, practice scheduling and medical record systems. So it's all smooth. Imagine being a doctor. You see a patient virtually provide excellent care and you know you've already been paid. No more chasing down payments, no more billing headaches.
Brad: 04:03
That's got to be a huge relief for practices.
Sarah: 04:06
Yeah
Brad: 04:07
But pre visit billing is just one piece of the puzzle. Right. What else can practices do to make sure they're getting paid on time for their telehealth services?
Sarah: 04:13
Well, one of the biggest challenges is keeping up with all the bills. Yeah, and making sure patients are paying on time. Automation can really help with this.
Brad: 04:20
Think about all the things billing staff have to do manually. Sending statements, sending reminders, following up with patients who haven't paid. All of that can be automated, which frees up staff time for more important things.
Sarah: 04:33
Yeah, like spending time with patients instead of chasing down money.
Brad: 04:36
Exactly. And automation isn't just about saving time and money. It's about making things better for patients too. You're much more likely to pay a bill if you get a friendly reminder by text than a call from a collections agency.
Sarah: 04:49
Oh, for sure. Nobody wants to make those collection calls.
Brad: 04:52
Right. And patients are actually embracing these new ways of communicating. 49% of patients actually prefer paying medical bills by text message.
Sarah: 05:00
Well, almost half! So it's a win. Practices get paid faster and patients get to pay the way they want.
Brad: 05:07
Exactly.
Sarah: 05:08
We've talked about pre visit billing and automation, but what about the bills themselves? Medical bills are notoriously hard to understand. Can practices do anything to make their bills more user friendly?
Brad: 05:19
Definitely. 40% of patients say they have trouble understanding their medical bills. That's a lot of people.
Sarah: 05:25
It's all about clear communication. Get rid of the medical jargon. Use language anyone can understand. Instead of listing every little charge, group similar services together and explain what each one is.
Brad: 05:38
So instead of seeing a code like CPT code 99213, I might see something like office visit level three.
Sarah: 05:44
Exactly. Clear, concise and easy to understand.
Brad: 05:48
I like it.
Sarah: 05:49
You can also think about the way the bill looks. Using things like color coding or icons can help people see important information like the total amount due or the payment deadline.
Brad: 05:58
So it's about making the bill more like a helpful message.
Sarah: 06:01
Right. And BillFlash has a platform that lets practices do all of this. They can create different types of bills and even tailor them to specific patients.
Brad: 06:10
The more personalized and easy to understand the bill, the more likely the patient is to pay it quickly.
Sarah: 06:15
You got it.
Brad: 06:16
Okay, so we've talked about simplifying bills, but what about the actual payment process? Can we make that easier for patients too?
Sarah: 06:22
Absolutely. Practices are offering more payment options now. Things like online payments, mobile payments, even text to pay options. It's about making it as convenient as possible.
Brad: 06:33
Like nobody wants to write a check anymore. If you want to get paid, you have to make it easy.
Sarah: 06:37
Exactly. Keep it simple. Find a system that works with your current workflow, that automates as much as possible, and that's easy for both your staff and patients to use.
Brad: 06:46
So start simple and build from there.
Sarah: 06:48
Exactly. And remember, technology is just a tool. The most important thing is to have well trained staff who know how billing works.
Brad: 06:57
So investing in training is just as important as investing in technology?
Sarah: 07:01
Absolutely. Your staff are the ones talking to patients, answering questions and making sure those bills get paid. They need to be knowledgeable efficient and compassionate.
Brad: 07:11
We've covered a lot of ground here. We talked about how much telehealth is growing, the challenges of telehealth billing, and some strategies practices can use to get paid and make patients happy.
Sarah: 07:21
But it's important to remember that telehealth is about more than just billing.
Brad: 07:25
Oh, absolutely. It's about making healthcare more accessible, reaching more people, and giving patients more control over their health.
Sarah: 07:31
Exactly. It's about transforming healthcare.
Brad: 07:34
It's the future of healthcare.
Sarah: 07:35
Yeah. It really is amazing to see how this shift to telehealth. It's impacting everything in healthcare. Like, the changes go way beyond just how bills get paid.
Brad: 07:45
So let's talk about those changes. What are some of the bigger implications of telehealth?
Sarah: 07:49
Well, one of the biggest is how it's empowering patients. It's giving them more control over their healthcare, like when, where, and how they access care.
Brad: 07:58
That's a huge difference from how it used to be when patients had to work around the doctor's schedule.
Sarah: 08:03
Exactly. And this focus on what the patient wants, it's only going to grow as technology gets better. We're already seeing things like wearable health trackers, remote monitoring devices, and personalized health apps.
Brad: 08:16
It's like everyone has a little doctor in their pocket now. But what does this mean for doctors and hospitals? Are they going to disappear?
Sarah: 08:22
I don't think so, but their role is definitely changing. Instead of being the only source of information, they're becoming more like partners, helping patients navigate the health care system.
Brad: 08:32
That's an interesting way to look at it. So it's not about replacing doctors. It's about giving them more tools and helping them reach more people.
Sarah: 08:39
Right. And it's about using technology to create a healthcare system that's more connected, more focused on preventing problems and giving personalized care.
Brad: 08:48
It sounds like a totally different healthcare system, but in a good way. Definitely more efficient, more accessible, more focused on the individual.
Sarah: 08:54
Exactly. And telehealth is a big part of making that happen.
Brad: 08:57
But there are always challenges with big changes. What are some of the potential downsides of telehealth?
Sarah: 09:04
One of the biggest is making sure everyone has access. Not everyone has good Internet or the right technology for telehealth.
Brad: 09:10
That's true. We don't want to leave anyone behind.
Sarah: 09:12
We need to make sure everyone can benefit from telehealth. This might mean giving people resources, advocating for better Internet access, or even finding different ways to do telehealth that don't rely on video all the time.
Brad: 09:27
We need to Be creative and find solutions that work for everyone. And of course, there's always the concern about technology making healthcare less personal. We don't want to lose that human connection between doctors and patients.
Sarah: 09:38
That's a valid point. Technology should be used to improve that relationship, not replace it.
Brad: 09:43
Which is why training is so important. Doctors need to learn how to use telehealth effectively. It's not just about the technology. It's about creating a good experience for the patient. Even though it's virtual?
Sarah: 09:54
Absolutely. They need to be good listeners, show empathy, and communicate clearly, whether they're in person or on a screen.
Brad: 10:00
It's like telehealth requires a whole new set of skills.
Sarah: 10:03
It does, and that's why training and education are so important. We can't just assume doctors will know how to do telehealth well. They need support, resources, and ongoing training.
Brad: 10:13
And patients need education too. They need to know how the technology works, what to expect during a virtual visit, and how to fix any technical problems.
Sarah: 10:22
Definitely. Patients need to be comfortable with telehealth, otherwise it can just cause more stress.
Brad: 10:26
Exactly. The goal is to make telehealth easy and enjoyable for patients.
Sarah: 10:30
And that means clear communication and easy to use systems. If telehealth is seamless and simple, patients will be more likely to trust it and be happy with it.
Brad: 10:40
So it's about using technology to make healthcare better for everyone.
Sarah: 10:43
Exactly. And that's why it's so important to be strategic about telehealth. It's not just a quick fix, it's a whole new way of doing things.
Brad: 10:51
Okay, so we've talked about the good and the bad of telehealth. What else is happening in the world of telehealth?
Sarah: 10:56
Another big thing is remote patient monitoring. Using technology to track things like your heart rate and blood pressure from home.
Brad: 11:05
So instead of going to the doctor all the time, you can just check in remotely.
Sarah: 11:08
Right. This is really helpful for people with chronic conditions who need to be monitored regularly.
Brad: 11:14
It can also prevent unnecessary trips to the hospital.
Sarah: 11:16
Exactly. Remote patient monitoring is better for patients and doctors. It improves care, reduces costs, and makes the whole experience better.
Brad: 11:25
It sounds like telehealth is changing everything about healthcare.
Sarah: 11:28
It is, and we're just getting started. As technology keeps getting better, we'll see even more amazing things happen with telehealth.
Brad: 11:34
This is all very exciting. So investing in technology now can save money later.
Sarah: 11:39
Exactly. That's why it's so important for healthcare providers to embrace telehealth and start thinking about how to use it in their practice.
Brad: 11:47
We've covered a lot of ground today. We've talked about the potential of telehealth, the challenges and the future.
Sarah: 11:53
It's not just about the technology. It's about using it to create a healthcare system that's better for everyone.
Brad: 11:59
A system that's more accessible, more affordable, and more focused on the patient.
Sarah: 12:04
Right.
Brad: 12:04
That's definitely something worth striving for.
Sarah: 12:06
It is. The future of healthcare is looking bright, and telehealth is a big part of that.
Brad: 12:11
This has been a fascinating deep dive into telehealth billing. We've talked about the challenges, the opportunities, and the future. We've learned how practices can get paid and keep patients happy.
Sarah: 12:22
And we've seen how technology is changing everything.
Brad: 12:24
Remember, technology is just a tool. The most important thing is to communicate clearly, focus on the patient, and be open to new ideas.
Sarah: 12:32
Well said.
Brad: 12:33
And if you're looking for help with all this, Bill Flash is a great resource.
Sarah: 12:36
Definitely check them out.
Brad: 12:37
That's all for this episode of the deep dive. Thanks for listening.
Narrator: 12:41
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:
Optimizing Telehealth Billing: Key Tips for Medical Practices to Unlock Faster Payments
Telemedicine and Revenue Growth: Strategies for Small Practices