Maximize Collections From Patient Services Billing

CueSquared MobilePay enables revenue cycle teams to collect patient payments via test messages. No app to download, no portal to log into, no paper statement needed.

Learn More
Patients love using CueSquared MobilePay because it is so easy

Making Patients Payments Easy for Innovative Healthcare Systems

Albany Medical Center
Baptist Health
Beth Israel Lahey Health
Main Line Health
Mount Sinai
Evergreen Health
“Patients don't have to go to a portal to pay their bill. You can do it right through a text. It’s a huge patient satisfaction driver for us.”
Philip Boyce
Chief Revenue Officer, Baptist Health
“We’re saving thousands of dollars a week just by not printing statements. It's difficult to quantify the entire impact MobilePay has had on our revenue cycle.”
Drew Smith
Director of Revenue Cycle, Main Street Family Care
“MobilePay holds the record for fastest and easiest rollout in 31 years of working in health IT.”
Ed Peterson
Director of Billing Operations, Mount Sinai Doctors
 Superior Patient Payment Experience

Superior Patient Payment Experience

There is no application to download, no portal to log into, and no paper statement to reference; patients simply and securely receive text statements and make payments through a 1-Touch Payment button. The branded logo signifies the bill is coming from the patient’s healthcare provider, not a third-party company. Additionally, contact information within the CueSquared payment screen leverages existing call center infrastructure instead of replacing it.

 Measure AR in Hours Not Months

Measure AR in Hours Not Months

Say goodbye to AR buckets of 30, 60, or 90 days. Because of the intuitive payment experience, revenue cycle teams collect approximately 80% of dollars within 14 days of the first text message, with day one payments accounting for 30% of dollars on average. Patients will quickly pay outstanding balances that are small copays, large bills, and even aging balances of 120 days+ that would typically go to collections from the moment they receive their first text message. All of this can be measured and tracked in our actionable payment dashboard.

Strengthen the Call Center and Reduce Costs to Collect

Strengthen the Call Center and Reduce Costs to Collect

By automating this first touch patient payment channel and reconciling outstanding balances within days, both printed paper statements and call center volume decreases. Additionally, patients with questions on their bills can easily contact the call center to settle bills with a live person or update their insurance information to properly adjudicate claims.

Improve Patient Self-Pay

How to Maximize Collections from Patient Services Billing

Right now, it is more important for medical practices and healthcare systems to balance the books than ever before. There are a lot of challenges that these organizations are facing, and they need to generate enough revenue to address these concerns. That is why there are a lot of medical practices that are wondering how to maximize collections from patient services billing. It is true that there are a lot of people who may not have money to pay their bills, but it is also true that some people do not pay their bills simply because it is not easy to do so. All healthcare organizations struggle to collect the payments that are owed to them, and it can be very expensive for hospital systems to track down these payments.

When taking a look at a deductible in medical billing, medical practices will quickly realize that more patients are selecting insurance plans with higher deductibles. This means that a higher percentage of the money is coming from the patient than ever before. As a result, call centers might be using a script for collecting money from patients. Even though this may have been helpful in the past, this is not the best way for hospital systems to collect money in the current environment. Instead, it is critical to remember that most patients prefer to pay their bills digitally. That is why there are so many medical practices that have already turned to CueSquared to help them collect money using an SMS payment option. It does not require a login screen, and it does not require anyone to download an application. Furthermore, patients have the ability to pay their bills using a single click, increasing the percentage of bills that are paid on time.

What Is a Deductible?

It is important for people to be familiar with the different terms involved in the payment process. For example, some people may be wondering, what is a deductible? Furthermore, what is the difference in copay, coinsurance, and deductibles? First, the deductible is the amount of money someone has to pay before their insurance plan kicks in. There may be some cases where the healthcare insurance company pays for the entirety of the bill after the deductible has been paid.

Next, the copay is the amount of money someone has to pay when they see a doctor. This is the amount of money someone owes at the time of service. Usually, this is a small amount of money that someone has to pay when they arrive. The point of a copay is to prevent someone from seeing a doctor when they do not need to.

Finally, coinsurance is the amount of money that someone has to pay even after the deductible has been met. Usually, this is described as a percentage of the overall bill. Some people are wondering, do co-pays count towards deductible? In this case, it depends on the way the health insurance plan has been structured. People need to read the details of their plans to learn more.

Because of the way these various entities are structured, patients are one of the largest sources of revenue in healthcare. That is why medical practices and hospitals need to make it easier for patients to pay their bills.

Copay vs Coinsurance

It is critical for people to understand the difference between copay vs coinsurance. Coinsurance in medical billing is very common, and there are still people who are wondering, what is a copay? A co-pay is usually a small amount of money someone has to pay when they see a doctor. For example, they may have to pay $5 to see their primary care doctor. This copay might still have to be paid even after someone has paid their deductible.

Then, there are other people who are asking, what is coinsurance? This is the amount of money someone has to pay after they have met their deductible. Even though the insurance company may pay for most of the bill, some insurance plans still have coinsurance. For example, if you are asking, what does 80% coinsurance mean, this means that the insurance company will pay for 80 percent of the bill, but the patient is still responsible for the remaining 20 percent. It is critical for everyone to read the details of their insurance plan carefully so they understand exactly how much money they need to pay before and after meeting the deductible.

Best Way To Collect Money from Patients

Right now, there are numerous doctors and administrators who are curious about the best way to collect money from patients. It is important to compare the advantages and disadvantages involved with collecting payment at the time of service. Today, it is much better for medical systems to collect money through text messages. Collecting money through text messages can remove all friction between sending a bill and collecting payment. There is a tremendous opportunity available in the healthcare revenue cycle to collect money if teams are willing to shift their mindset. Of course, it is important to continue to collect money from insurance companies, but patients are responsible for a greater percentage of medical expenses than ever before.

Unfortunately, there are a lot of medical practices that simply decide to send their patient bills to collections. There are some situations where this might be necessary, but some people do not pay their bills simply because they do not know how to do so. If you are asking, “what is patient collections,” this is a team that is responsible for tracking down patients and convincing them to pay their bills. Then, the hospital may have to pay a significant commission to the collections team. This can be a major problem, and this money can add up over time. That is why hospital systems need to look for other methods they can use to get patients to pay their bills on time.

What Is Point of Service Collections?

There are some people who are wondering, what is point of service collections? Right now, there are a lot of medical systems that are struggling to collect the small dollar amount owed to them. If they don’t collect this money at the time of service, they may never see this money. Even though this may seem like a small amount of money, it can add up quickly over time. If someone walks out the door without paying, there is a significant chance the medical system is never going to see that money, no matter how hard they try to track that person down.

That is why it is important to focus on the point of service collections best practice. Even though there are a lot of medical systems that use point-of-service collections scripting in a call center, it is more important to communicate clearly with patients when they walk in the door. It may even be beneficial to provide a time of service discount. This means that hospital systems are willing to give a discount to someone who is willing to pay their bill at the time of services rendered.

Why It Is Necessary To Collect Payments From Patients During Check In

Of course, it is important to collect money from patients at the time of service is given, but it is also important to describe the process of collecting payment from patients at the time of service. When someone walks in, it is critical for the check-in team to collect all necessary information to send a bill to not only the patient but also to the insurance company. You might even be curious, what are some potential consequences of failing to verify insurance? If the medical system does not verify insurance, they may have a difficult time figuring out accurate information. This may mean that the hospital system may not be able to send the bill to the insurance company, meaning they may not be paid for that visit. This is why it is necessary to collect payments from patients during check-in.

Now, it is critical for hospitals to use technology that makes it easier to collect money from patients after they check-in. For example, it may be beneficial to use the system from CueSquared, which allows hospital systems to collect money from their patients through SMS messaging. Healthcare organizations need to do everything they can to make it easier for patients to pay their bills. Even though collecting money at the time of appointment is critical, it is also important to use tools that collect money after the appointment as well.

Patient Collections Process

When taking a look at the patient selection process, there are a lot of medical billing collection process steps. Time of service payment in medical billing is critical, and hospitals need to focus on modernizing their payment systems. This is where CueSquared’s Direct Mobilepay is helpful. This is a digital payment method that does not require anyone to log in. Furthermore, patients do not have to worry about downloading an application. This is a simple payment method that makes it easier for patients to pay their bills on time. It is also superior to paying using a phone call or sending a physical check in the mail.

Remember that the vast majority of people open text messages that are sent to them. Therefore, this is a great way to remind patients they have a bill to pay. Furthermore, with a transparent payment structure, medical practices never have to worry about how much money they are paying for the service. That makes it easier for patients to pay their bills on time.

Scroll to Top