Two Ways Patient Self-Scheduling Improves The Bottom Line
Health systems and medical groups carry significant outstanding patient debt without the needed resources to collect. We often focus the conversation about patient self-scheduling around patient access, but the truth is that health systems need the financial boost of patient self-scheduling as much as patients need better access to their physicians. There are two major ways the patient self-scheduling software can improve your bottom line.
Patient Self-Scheduling Software Directly Reduces the Budget
The budget math is pretty straightforward: self-scheduling software saves 1 FTE for every 100 self-scheduled appointments. Most often these resources are redirected to other tasks, giving medical groups the flexibility to cover absent employees or holes in coverage without incurring overtime or the cost of per diem employees.
The End of Neglecting Patient Debt
Self-scheduling’s second contribution offers the big potential to improve a system’s financial health by giving medical groups the ability to focus on financial priorities adequately. Ginny Shipp, Product Specialist here at Relatient, spent some time recently talking with our friends at Future Healthcare Today about this very issue. According to Ginny, who offers over 25 years’ industry experience, both prior financial clearance and the collection of patient debt are frequently put on the back burner for the sake of tasks that require immediate attention. From the article:
“Health systems and physician practices want the ability to put resources on all of these priorities but the reality is that there simply aren’t enough people most of the time”, Shipp explains. The highest priorities are always the patients who are present and those trying to get on the schedule, everything else comes second. The shortage of resources to cover billing and financial operations is problematic because revenue creates sustainability for both jobs and the level of care a practice provides and yet half of all medical bills go unpaid. Self-scheduling offers new opportunities to cover all those important operations without adding more FTE’s.
Because many practices employ one or more employees to schedule appointments full time, replacing these FTEs with self-scheduling software frees staff to focus on front and back-end financial processes that can make a big difference in the long-term sustainability of a medical practice.
Read the rest of the conversation with Ginny here.