When you collect payments directly from text messages, overdue payment reminder cadences are a helpful nudgeImprove Self-Pay Collections
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.
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.
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.
If you work in the medical field, then you understand the importance of making sure that bills are paid on time. Patients need continued services and medical facilities need the funding to function, among other things. However, unlike other industries, hospitals often do not collect 100% of the payments they send out. Therefore, it is important to follow up with patients regularly in order to make sure that they remember to pay their bills.
There are often snags in this process, though. While it is possible for hospitals to send out reminder letters, recipients may not see them and these letters often end up thrown out with the junk mail. Therefore, instead of sending out a letter requesting payment outstanding balance, it may be better to send a short payment email or a payment request SMS.
That is where CueSquared enters the picture. With CueSquared, now there is an SMS service available purely for medical billing. Using this service, it is possible to send an overdue payment reminder SMS. SMS is simply faster, easier, and less expensive than using a call center or sending a physical letter that may never even reach the recipient. Likewise, the reality is that the vast majority of people prefer to use SMS when it comes to corresponding with businesses and handling payments. Between this and the fact that fewer than 1% of the US population are without a cell phone, SMS is simply faster, more convenient, and more efficient than other communication options, even phone calls or email.
Given the wide array of difficulties facing healthcare facilities today, it is important to make sure medical bills are paid as quickly as possible. That way, hospitals will be able to balance the books and continue providing first-rate care. As we’ve already begun to see, too, it is possible to use an SMS service to make sure people remember to pay their bills, which in turn will make it easier for hospitals to take care of their bottom line. As a result, it is important for every healthcare facility to think about using SMS as a way to remind patients about bills that might not have been paid.
Despite the importance of these payments, there may be healthcare professionals who are wondering how they can ask politely for people to pay their bills. In this case, it might be helpful to take a look at a payment request example, or even at a potential short message for payment request.
This is another area where CueSquared can be helpful. It is possible to use this SMS service to send shorter messages to patients reminding them to pay their balance. In today’s communications, though, it is important to keep messages short, to the point, and easy to read. If a message appears overly complicated or extremely long, then people may not read it, or they might even block the sender, thinking it’s spam. This is yet another reason why it is important for healthcare providers to consider using effective SMS messaging instead.
There may also be many medical providers who are concerned about sending this type of information using SMS messaging. Fortunately, every service from CueSquared is compliant with the most relevant privacy and security requirements, including recent updates conforming with HIPAA standards. With this end-to-end security, healthcare providers can rest easy, knowing that private patient information will never be shared over text message when using CueSquared. Even if someone clicks on the link in the SMS message, no protected information will be displayed. All that will appear is an invoice and payment options.
In addition, all data involved is encrypted. This way, hospitals and patients do not have to worry about their payment information being hacked, since the encryption service is on par with the most recent update best practices. Here, because individuals and healthcare facilities do not have to worry about their information getting out on this service, SMS messaging quickly becomes one of the best ways to ask for payment efficiently, professionally, and securely. Plus, thanks to the professional team at CueSquared, using this payment reminder option will not create any additional work for hospitals’ own staff or the people who work in the medical billing department. Instead, with this application, reminding patients about their due payments has never been easier.
It is also important to think about sending a payment reminder message at set intervals. Even though it might be tempting to take a look at a debt collection text messages sample, keep in mind that sending a text message to a debtor is not the same as asking someone to pay their medical bill. Unfortunately, a lot of medical bills are going unpaid today because many people simply do not want to go to the trouble of contacting a call center or sending a physical check, even if this is how they could pay their bills. Some people even prefer to pay their bills in cash, but hospitals rarely deal in this form of currency. Therefore, it is important for healthcare facilities to make it as easy as possible for patients to pay their bills.
The reality is that there are many changes taking place in healthcare today, particularly when it comes to medical billing. For example, many patients in the United States are deciding to go with cheaper health insurance policies that also come with larger deductibles. Therefore, the burden of paying a lot of medical bills is shifting from insurance companies to patients, which means that hospitals are spending more time chasing down patients and asking them to pay their bills. Between all of these changes, there are simply more payments that patients are making directly in today’s healthcare environment.
Another major issue is that a lot of billing systems in use at medical facilities today are incredibly old and outdated. In some cases, they may rely on physical mailing statements instead of even having options for patients to pay online. Even if hospitals are able to take payment information over the phone, this is simply not convenient for many patients. These kinds of legacy systems are expensive and inconvenient solutions that simply make it harder for patients to pay their bills.
Therefore, it is better if hospitals can collect payment information via SMS. By making it easier for patients to pay their bills, hospitals can increase the percentage of their bills that are paid on time or even paid at all. This is important when hospitals are busy trying to find ways to cover the cost of equipment and pay their staff’s salaries.
Though the medical field hasn’t always caught up, there are also a lot of people who have previous experience when it comes to a payment reminder SMS app or a medical bill SMS reminder app. However, even though it might be helpful to receive a pending payment SMS from time to time, one of the major benefits of using CueSquared is that there is no mobile application. Oftentimes, an app is simply another unnecessary feature that someone has to download. If someone has to go through an application in order to pay their medical bills, this could still feel like payment hard for them to manage.
CueSquared’s payment option, where the patient can simply click on a secure link and pay their bill from there. There is no need for setting up and remembering a username and password, like there would be with a mobile app. And of course, most patients are probably already familiar with the way that, if they forget an app password, they may have to reach out to a convoluted call center in order to reset their login information. All of this makes for additional hassle and inconvenience.
However, if patients do not have to worry about going through an application, then this will make it easier for them to pay their bills. This is another reason why CueSquared is able to increase the percentage of hospital bills that are actually paid on time dramatically.
From time to time, it can also help to send patients a payment reminder text. By taking a look at a friendly payment reminder SMS sample, it is possible for hospitals to get the most out of their payment reminder SMS software. However, even though it may be helpful to take a look at a payment request SMS sample, this can also create a lot of extra work for the medical billing team, who already have to handle billing, medical coding, and other processes. So instead, it may be easier to take this reminder text message sample and plug it into the CueSquared system. That way, all of these reminders are sent out automatically.
The goal here is to make this process easier for patients and medical billing teams alike. So instead of having to ask medical billing teams to send out payment reminders, it is better if this process can be automated. That way, the medical billing team can spend their time focusing on more important areas.
With CueSquared, it is possible to automate some of the revenue cycle team’s more onerous tasks with a simple reminder text message. This way, collections will also be automated for the revenue cycle team. Having these options can allow the hospital to free up their employees’ time quickly.
Ultimately, it can be quite revealing to take a closer look at a text message payment reminder SMS sample in order to understand how payment reminders via SMS work. If hospitals are able to automate the request for payment SMS, they can save a lot of time and money.
This is another area where CueSquared Direct Mobilepay can be helpful. The Direct Mobilepay template comes completed with several useful features, including:
These important features set CueSquared and its Direct Mobilepay offering apart from anything else available today. The goal of this offering is to make it as easy as possible for patients to pay their bills so that hospitals have an easier time collecting without spending large amounts of time, funds, or resources chasing down those payments.
With all these benefits on the line, hospitals should consider implementing SMS payment systems to improve their bottom lines.