Medical Patient Statement Services
Generating a patient statement is a vital step in the medical billing process. The patient statement is generated only after the insurance payer submits his/her report to the medical patient statement companies. The report provides the details of the payment that the payer has agreed to pay the health care provider as per the insurance claim. The remaining part of the payment has to be paid by the patient.
The patient statement ensures that the patient makes the payment to the health care provider without any failure. A clear and concise patient statement is necessary to prevent any payment fraud or loss of finances. Any discrepancy or fault in the patient statement can affect the revenue cycle of the health care provider. It is, therefore, important to outsource medical patient statement services to the experts. Outsourcing patient statement services can boost your revenue cycle and maximize the productivity of the health care provider.
Patient Statement: The Definition
The patient statement refers to the bill that is generated in the name of the patient to pay the health care provider for the medical services he/she may have received. The bill is printed with the patient's demographic details along with other details such as the doctor’s name, services/procedures, service's date, charges, and total payment that the patient is required to pay.
The patient statement may also include EOBs (Explanation of Benefits). This helps the patient to understand the benefits covered as the insurance claim. In other words, including EOBs in the statement provides a detailed distribution of the procedures and the charges. A clear division of the charges helps the patient to understand why only certain procedures were covered under the insurance claim and how much payment is made by the payer. In this manner, medical patient statement companies make sure that the patient gets a clear picture of all the medical services and charges.
Why outsource medical patient statement services?
Technology has made it possible to provide quality medical care services without spending much time on tasks like patient scheduling, billing, etc. Nowadays, medical care is about strategy, productivity, efficiency, and quality. This is where outsourcing medical patient statement services come in. We list down some of the top-notch reasons why should you outsource patient statement services:
- Boosts Productivity: Health care providers can focus on treating their patients without worrying about the payment of their medical services. It is the job of the medical patient statement companies to ensure that the patient pays the due amount on time.
- Quick and Accurate Billing: The billing system is designed to keep track of all the procedures and their charges. This makes it easy for the biller to calculate due payment without any error.
- Ensures Healthy Revenue Cycle: Accurate calculation of charges of medical services ensures a healthy revenue cycle that is free from any error and discrepancy.
- Confidentiality: Medical patient statement services also offer to keep patient’s data safe from getting misused.
Healthcare providers can avail of all the above-mentioned benefits by outsourcing patient statement services to a good medical patient statement service company.