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A teenager just became a multimillionaire by selling an app he created that summarizes content found on the Internet. Yahoo reportedly paid $30 million in cash for Nick D’Aloiso’s smartphone app, Summly, indicating the growing demand for concise, trimmed information by those who consume web content. Apparently, we live in a “get-to-the-point” world.Yet, in contrast, we’re also inundated by the call for transparency. Now more than ever, people want full disclosure so they can access all the layers and details of corporate activity and transactions. The same consumers who demand streamlined, nut-shelled content also want access to details and comprehensive inner-workings.The seemingly disparate demand for both summarization and full disclosure is familiar to those of us in the business of health care. For a long time, we’ve been grappling with whether to summarize or itemize patient billing information on statements. In our quest to make our processes and communications friendly to patients, we’ve considered different approaches for conveying costs, payment terms, and requirements to patients who express the desire for simplicity and transparency.Out in the market, we see a range of tactics currently being employed. Some providers have erred on the side of brevity, offering simplified statements that spotlight only the key totals that patients need to know in order to pay. Other providers have maintained the more common itemized approach. What works best? Though we don’t have a formal study to tell us quantitatively, we can look at each approach to identify merits and challenges.
The goal of any statement is to effectively communicate payment responsibility to evoke appropriate, prompt response from the party who must pay. Simplified or summarized, statements can be very effective in clearly stating what’s owed and when it’s due without cluttering statements with extreme detail that can complicate messaging.Thanks to the flexibility of digital printing, providers can now customize and print statements on demand, in small quantities, in color, with call-outs, and with highly targeted messaging to get points across. Versatile design elements work well with simplified statement formats. As a side benefit, summarized statements require less paper, which helps to reduce overall printing and mailing costs and keeps the physical mailer more manageable for the recipient, who has fewer pages to shuffle.However, fully summarized statements exclude details that some patients may find helpful in understanding and assessing total payment due. The simplification may, in fact, be too simple in some cases, leading patients to call customer service for additional information or to request itemized documentation.Providers should include key information on summarized statements to compel payment response from patients, while limiting demands on customer service departments.
Statements that list all charge details help providers maintain transparency with patients. These statements are the billing equivalent of full disclosure, an approach that keeps providers accountable and patients informed. The thoroughness of information puts everything at the patients’ fingertips and provides quickly accessed records of encounters. Ironically, detailed statements are often reported to spark more questions than answers, as patients may become confused in reviewing the line items. If itemization is employed, it’s essential that the statement is designed so that key pieces of information, such as total due and payment deadline, are clearly marked and can be quickly identified by the patient.
Many providers incorporate summaries and itemization in their patient statements to cover all the bases. The most effective statements that take this “dual track” provide a summarized cover page that is well designed to call out amount due and payment due dates, with subsequent pages offering itemized details for further reference. These statements use color, text blocks, and call-outs to punctuate the most pertinent, actionable information up front yet include the full scoop in case patients care to review the details.
Take a cue from the aforementioned Summly app that creates web content “cliff notes”: prioritize the need to summarize key information for patients. Certainly, the inclusion of itemization can hold great merit and support your commitment to being a transparent organization for patients. However, you can’t ignore the benefits of making your statements’ front page the ultimate tool for inspiring payment response. Considering that a majority of patients simply want to know what they owe and when it’s due, your organization will be well served to make those answers known up front.
Emdeon ExpressBill Services streamlines your billing processes while also streamlining your statement content and design.
Publication Date: Wednesday, May 15, 2013
Brian Kueppers, founder and CEO, Apex, discusses the importance of a robust patient payment strategy in boosting organization revenue and enhancing patient satisfaction.
Brian Grazzini, CFO, HealthPort, describes the importance of efficient and compliant information exchange and audit management in helping HIM staff spend less time on paperwork and more on mission-critical projects.
Cindy Matthews, executive vice president, Community Hospital Corporation, discusses how rural and community hospitals can use collaborative partnering to position for success through tough market conditions.
Rick Heise, senior vice president, revenue cycle, at Cerner Corporation, discusses the importance of integrating clinical and financial data to excel in health care’s changing payment environment.
Dale Hockel, senior vice president of operations, and Jim Fanelli, CFO, TriMedx, share strategies for elevating clinical engineering through innovative management programs.
Russ Graney, founder and CEO for Aidin, and John Laursen, head of business development for Aidin, share insights on how to improve care transitions between acute and post-acute care settings and incentivize high-quality patient outcomes.
Scott Elston, strategic accounts manager, GE Healthcare Services, describes how substantial cost reduction in health care requires rethinking business strategy and asset use.
Robert Williams, MD, director, Deloitte Consulting LLP, and Arielle Freiberger, product strategist, ConvergeHEALTH by Deloitte, explain how sophisticated retrospective, real-time, and predictive data analytics can inform decision making to reduce costs and improve care.
Stuart Hanson, director of business development (healthcare solutions) at Citi Retail Services, discusses how improving the payment experience can benefit consumers and healthcare providers.
Scott Schmidt, vice president, Cerner RevWorks, LLC, shares insights on best practices for maximizing a revenue cycle management partnership.
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