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"I have years of leading project development teams, and Elite's staff has been among the most "can do" I've ever worked with.

Steve Taylor

Bloomington Hospital

Controlling Costs with Patient Accounts Software

In todayís tough-as-nails fiscal climate, an obsessive focus on cutting costs is no longer just the province of the certified bean-counters in an organization. Rising costs and fierce competition for new patients and repeat business means that belt-tightening is seemingly on the top of everyoneís list these days. And for good measure: itís a particularly smart play given the financial pressure thatís currently shaping the healthcare marketplace.

The critical key when seeking out ways to trim a little fat from the bottom-line, however, is finding ways to improve balance sheet health without sacrificing patient satisfaction or dragging your hard-won brand equity through the mud. In other words, identifying strategies that turn the typical more efficiency/less effectiveness tradeoff on its head, instead providing the best of both worlds.

One potent, yet seemingly low-hanging-fruit solution? Effective patient account management through the use of EBPP software. Duplication of effort among your patient service team can be a substantial source of hidden revenue cycle costs. It cuts into revenues. Saps employee productivity.  And has the potential to harm your patients' satisfaction with the billing process.

Fortunately a centralized, web-enabled EBPP dashboard application can be a major boost to your operations, driving more effective patient statement issue resolution, faster payment collection and processing, and a warm-fuzzy sense of gratitude from your patients.

So just what is it that you should be on the lookout for in an online patient statement management dashboard?

1). Online Access, Easy Usability
An EBPP dashboard should centralize all patient account information (statements, payments, key account details) into a simple, intuitive online toolset that can be easily accessed by all employees.

2). eStatement Storage and Retrieval
Giving patient service reps access to the same statement the patient is looking at is a great help in getting issues resolved quickly and painlessly. And patients that get their questions answered effectively the first time are less likely to call back with more concerns or to further drag-out balance payment.

3). Legacy System Interconnectivity
Tying an EBPP service management toolset into your organizationís legacy system helps optimize employee workflow -- eliminating unnecessary steps needed to process payments (made online or off) and update patient account information (address, patient insurance information, key account details). Which, in turn, mitigates the time it takes to complete regular patient account activities.

4). Employee Rights Management
Segmenting patient service representatives by EBPP access rights and role permissions ensures optimal workstation security, keeps your staff attuned to their specific job requirements, and reduces duplication of workload.

5). Tracking Capabilities
End-to-end patient account monitoring and reporting capabilities not only keeps service representatives in the loop by alerting them to all online bill presentment and patient payment activity, it also logs any changes made to the EBPP system and enables easy legacy system updates.

The Wrap Up: Elite's Here to Help
In tough economic times, smart, effective patient account management strategies can have a big impact on your financial health: improving customer service practices, boosting patient satisfaction, and slashing administrative overhead. Okay, so now itís time for the hard sell. (Come on, you knew it was coming eventually, right?) Elite is proud to offer our clients a ridiculously functionality-rich, but-still-shockingly-cost-effective patient statement dashboard as part of our top-of-the-line eStatement solution. For more information about how we can help you get a lean, mean patient service team, happy patients, and reduced costs, simply click HERE.

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