Create an Outstanding Invoice Letter for Security with Ease

Outstanding invoice letter for Security

almost half of all patients don't pay off hospital bills of 500 or less worse the same source points out that 99 of health care invoices aren't paid off if they're over three thousand dollars those two statistics are the result of the grim reality that we face in health care regardless of which side of the treatment that you're on if you're the organization providing care to patients it's not going to be easy to collect what's owed if you're the person who scheduled the appointment only to find out that you owe a ton of money afterward that you can't afford to pay should you even go in the first place there's simply no way for healthcare organizations to not charge for treatment that they give in the united states even though they're in the business of caring for people they still need to pay for their staff and keep their lights on themselves believe it or not another hard step during patient billing is sending the statement there are thousands of problems that could arise during this process maybe the patient moved and their address is incorrect or there's an error in the services listed within the statement conquering all the preliminary steps and sending a statement to your patients doesn't guarantee payment let's say a month goes by and you haven't received anything after you send your statement at this point the statement is overdue as a result you resend it to the patient and include a past due letter within the envelope this letter acts as a more formal request for payment and is a common effort used in collections but even these don't guaranteed payment hi everyone i'm matt from me tactics and today i'm going to give you four perfect ways to send past due letters before we get started though make sure you subscribe to our youtube channel by clicking the button below while you're down there hit that alert bell icon next to it as well so when we post new helpful content you get notified [Music] the first way to send your past due letters is in the form of a text message just because the industry term is a past due letter doesn't mean that it has to be a formal written document that's sent through the mail the reality is that the patient landscape is changing they care more about their experience than they ever have before one of the desires for patients is to make healthcare more accessible so how do you make healthcare more accessible utilizing mobile phones after just three minutes of sending a text message there's a 90 percent chance that the person who received it reads it that's the highest open rate of any other form of communication discussed throughout this video so why not send your past-due letter in the form of a text message that statistic essentially guarantees that your patient will read it the second way to send your past-due letter is in a well-formatted physical letter sending financial and sensitive information via the mail is still the standard operating procedure for many healthcare organizations it's also the indirectly recommended mode of transportation within the industry considering the exceptions laid out within the hipaa conduit role now it may seem outdated to send something through the mail by younger generations but it's still effective 77 of people still sort through their mail as soon as they grab it out of their mailbox like text messages that's an incredibly high open rate that you can't ignore when you're trying to collect your outstanding balances making a past due letter that's in full color and representative of your brand could still have a lasting effect on those patients with outstanding balances maybe they just forgot that they owe you money after all of this time the third perfect way to send a pass-through letter is as an email 99 of people check their email every day that's not that surprising of statistic if you consider this form of communication is still widely accepted by most workforces furthermore it's only become more accessible with smartphones being able to connect to it but sending a past-due letter notification via email is a little bit trickier than something like an appointment reminder in either case the patient you want to send the electronic correspondence to has to opt in and want to receive them further you also have to include a way for them to opt out if they no longer want to receive financial notifications from you in this form what's more important about using email for your past due letters is the language that you use you don't want to land in the dreaded spam folder if your past due notice lands in the spam folder of the recipient you might as well chalk it up as wasted effort not paying attention to your wording is the fast track to landing in the spam folder unfortunately emails related to financial matters also happen to be the third largest category for spam so pay attention to the way that you write these emails the fourth and final way to send pass-through letters is through your dunning messages have you ever been in a situation where you meet someone have a conversation with them and then immediately after they walk away you can't remember their name anymore if you're anything like me this scenario happens to you daily ing to grandmaster of memory ed cook you have to actively repeat someone's name at least 30 times before you actually remember it so what's my point after all this the patients that you send your past due letters to might have a similar memory problem now with names per se but with paying you which is arguably worse that means you need to let them know multiple times that their balance with you is overdue as a result make sure that you replace a reminder in multiple places if you're sending them a physical letter you're most likely including another copy of their statement in the same envelope the statement should have an area devoted to it that reflects the past-due status that the letter refers to where should you include this verbage in the dunning message area if designed correctly the past due notice will stand out like a sore thumb on this statement as a result the recipient will keep their account status in the top frame of their minds including it within the dunning message area also serves as a fail safe in case the recipient skips the front page letter altogether collecting from patients isn't a walk in the park in a perfect world you perform treatment and your clients pay you after their appointment however those who work within healthcare know that it won't ever be that easy there are way too many steps involved between medical coding insurances and statement processes for it to be that easy there's no one way to avoid outstanding balances they're going to happen one way or another to your practice implementing an effective past due letter now will make it easier to collect on those future overdue accounts though don't write off accounts that are a couple months past the original due date as a loss try one or multiple of these strategies that i went over in this video and watch your debt collection efforts finally pay off if you'd like to learn more about past due letter templates reach out to etactics and you already made this far into the video so you might as well like it share it and comment below what are you waiting for subscribe to our youtube channel