The most fundamental mistake practices could perpetrate, potentially denting customer approval and eventually, the cachet of the practice itself, is treating the entirety of the process of the collection as a mere revenue-generating tool.

While it truly is a source of revenue but approaching it with such a facile mindset might not be very productive for the practice in the long run. The process of collection should be designed and executed to effectively collect the money that the practice is owed but do so while maintaining an empathetic relation with patients in order to ensure a good customer experience.

The ability of a practice to create and manage a smooth workflow for collections is a function of its staff’s ability to follow the right approach to deal with the minutiae associated with an apparently “fully-grasped” routine of collecting. Viewing it as a means of revenue generation, as complete and true as it sounds, is still only half of the actual process involved. Educating staff that seeks to engage and interact with customers with a certain level of tact and consideration, throughout the patient-practice relation, is equally crucial. From educating patients about the debt owed to working them through a suitable method of repayment, the staff needs to exude an empathetic attitude to win customer satisfaction.

Mistakes to Avoid; Strategies to Adopt:

Maintaining Consistency

Assuming that the process of the collection starts at billing could sometimes be misleading; it starts even before that, with the patient onboarding experience. Practice staff needs to communicate projected costs, available payment options; down payment, third party financing, etc., to the customers, thoroughly, at the beginning. Laying out available options and methods early on is important to guarantee a content customer experience. Maintaining consistency while designing and implementing these policies is necessary, particularly when collection methods need to be adapted for a multifaceted pool of patients, and to make sure everyone is treated and engaged within a consistent manner.

Revenue Generation

When it comes to the actual revenue-generating aspect of the process of collection, the staff needs to be well equipped to handle the monetary and administrative complexities involved.   Much like other aspects of running a practice, like attracting, acquiring, and retaining patients, revenue is equally important, contributing significantly to what the practice earns and also to maintain its business perpetuity; Practices need to train their staff accordingly. Once all staff members fully understand the importance of a smooth collections workflow, implementation of the required policies and procedures need to be carried, including training programs to enable the staff to effectively communicate billing costs, debt payment options, etc., with the patients. Moreover, continually going back to examine and modify the set policies is an also essential component of the entire process.