A Comprehensive Guide to Patient Statements: Five suggestions and Three Challenges

How much do paper patient statements cost? The cost of paper, postage, and administrative overhead in the healthcare sector swiftly mount. The cost can be substantial if a provider pays $1 for each paper statement and mails one statement per patient every month on average. As per the 2019 Trends in Healthcare Payments study from Greenway Marketplace Partner Instamed, 88 percent of providers still conduct manual and paper-based transactions to collect payments. Only 23% of customers receive electronic statements, although 77% of consumers would prefer to. Using statements and balance notifications with reminders is the most economical and effective approach to collecting patient balances. Please continue going through this article to get a sense of how to get the most out of patient statement processing and to have your clinic set up to handle collecting several issues.