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Electronic Patient Statements - Automate Your Patient Billing

By: Lori Anderson, Wed Apr 5th, 2006 04:39:23 PM

When looking for new software solutions, be sure to investigate the availability of electronic patient statements (EPS). Have you ever wondered how long it takes your staff to complete the print and mail function of sending out patient statements? Most practices choose to do weekly, biweekly or monthly patient statement processing. This task dramatically affects your practice operations and revenue streams. Processing times can be lengthy, and delays are quite common due to lack of time and resources at most physician’s practices. Have you ever analyzed how much it costs your business to perform the print and mail functions of patient billing? There may be a better solution for you. See the following sample of manual patient statement process costs. $0.39 first-class stamp, $0.08 envelope with window or label, $0.08 return envelope, $0.02 paper (per page), $0.10 printer ink=$0.67 Total (without accounting for labor costs). There is a solution; electronic patient statements. The process of sending patient statements can be as easy as sending electronic insurance claims. Electronic patient statements allow your staff more time to focus on what’s really important, your patients. When it comes time to print, fold, stuff, stamp, seal and bundle the statements, you can outsource this menial labor task. With electronic patient statements any patient that has a balance and is eligible to be billed, will automatically be sent a patient statement. With this automation, you will improve your accounts receivables timeline. Electronic patient statements also allow you to minimize mislabeling errors and delays inherent with the print and mailing function which impacts your ability to bring your money in. Your practice management software solution provider should have this valuable service available. Additionally, this service usually costs less than the postage and supplies outlined above. Typical automated patient billing service costs for electronic patient statements are $0.62-0.69 per statement. Most systems allow you to retain the ability to make real-time modifications and omit patients from the queue as needed. You can even include special notes for specific patients on the statement, when necessary. Lori Anderson, an independent consultant with LAtech, works with Antek HealthWare on their DAQbilling Medical Billing Software and LabDAQ Laboratory Information System projects, since 1991. With vast experience in the medical field her writing expertise includes laboratory operations, billing services, and private practice operations.

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Electronic Patient Statements - Automate Your Patient Billing

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