Hard Line Healthcare: Why Cracking Down On Payments Could Improve Patient Care.
February 28, 2019 by Staff
Filed under Health, Money/Business, Weekly Columns
(Akiit.com) We’re in something of an epidemic in the world of healthcare right now. The need for expensive insurance plans is leaving patients unable to afford care. Medical practices, too, are struggling to pull enough profit to stay open. In short; it’s a nightmare on both sides of the battle lines right now. Even worse, everyone’s health is suffering a result. Even those who pay for insurance are having to wait weeks or more to secure appointments. And, that’s never good news.
Of course, as a healthcare provider, you may find it difficult to focus on finance. The chances are that you would rather treat patients and worry about money later. That’s admirable by all means, but it may
backfire in a significant way. If you’re operating with endless outstanding payments, you’ll never be able to give your paying patients the best. Instead, you’ll find yourself in deep debt and even facing closure. If that happens, it isn’t going to help anyone.
Instead of letting payments slide, then, you need to take a hard line with your healthcare. This means hiring a medical accounting team who can keep a close eye on your books. It also means asking for payment on the date of treatment. To make sure you don’t feel too bad, consider the following reasons why this can increase your quality of care.
A budget for quality doctors
If you have money coming in when it should, you’ll have more budget spare to hire quality doctors. The more qualifications and experience someone has, the higher the salary they can demand. If you’re scraping the barrel, you’ll have no choice but to hire inexperienced doctors fresh from the classroom. And, that’s not always a good thing. By taking a hard line with payments, there’s no reason that you’ll need to skimp on the quality of professionals on offer.
Access to the best medical technologies
Technology in healthcare is advancing at an exciting rate. Thanks to these developments, previously long-winded procedures are now easier than ever. Some medical facilities are even making use of things like AI software to improve the services they offer. As you may have guessed, though, advances like these don’t come cheap. If you want access to the latest treatment options, then, collecting payment on time is essential. One thing’s sure; your patients will be glad that you chased them when you can heal them with the click of a button.
Increased appointment availability
One of the main worries in healthcare is the sheer amount of time patients are waiting for appointments. It’s near enough impossible to book up without waiting at least a week or two now. That’s terrible news for any illness, and it’s something you can tackle when you increase your budget. As soon as you start to see more money coming in, you can increase your open hours and hire a larger staff. As simple as that, you should be able to make sure of same-day appointments for patients anytime they need one.
Staff Writer; Roy Shaw