RP Sanjiv Goenka Group

Patient Balance

Streamlined Patient Statements for Faster Payments and Savings

Patient Statement services are a small yet significant part of the revenue cycle. Whenever the patient is liable for their co-insurances or deductibles, our team takes it up to calculate the value and generate patient statements. This makes it easy for our clients to move on to collections quickly.

 

Our Payments Control tool will aid in the immediate understanding of all the balances towards patients. Such Patient statements are consolidated towards our clients’ accounts at the right time. This consolidation and statement generation is done every cycle, saving our clients valuable time and effort trying to wade through such vast data. The benefits include:

 

Reducing Bad Debts and Avoiding Collection Agencies: By promptly generating patient statements and clearly communicating the amount due, we help minimize bad debts. Clear and concise statements enable patients to understand their financial obligations, reducing the chances of overdue payments and the need for engaging collection agencies.

 

Faster Payments: Timely patient statements lead to faster payments. Our efficient statement generation process ensures that patients receive their statements promptly, allowing them to make payments in a timely manner. By expediting the payment process, healthcare providers can improve their cash flow and financial stability.

 

Cost-saving: Outsourcing patient statement services to Firstsource can result in significant cost savings for healthcare providers. Instead of allocating valuable internal resources to handle statement generation and printing, partnering with us allows you to leverage our expertise and infrastructure, reducing operational costs associated with in-house statement processing.

 

High-quality Patient Statements: Accuracy and clarity are paramount when it comes to patient statements. Our team is committed to delivering high-quality statements that provide a clear breakdown of charges, insurance payments, and the patient’s outstanding balance. Well-organized and professional statements enhance patient understanding, leading to improved payment compliance.

 

Patient and Provider Satisfaction: Clear and easily understandable patient statements contribute to enhanced patient satisfaction. When patients receive well-designed statements that clearly outline their financial responsibilities, they are more likely to trust and engage with the healthcare provider. This, in turn, improves the overall patient experience and strengthens the provider-patient relationship.

 

Timely and Friendly Patient Statement Generation: Our team ensures that patient statements are generated promptly and delivered within the expected timeframe. We understand the importance of timely communication in financial matters and strive to provide a seamless experience for patients. Our friendly and supportive approach ensures that patients feel valued and well-informed throughout the billing process.

 

Statement Printing Services: In addition to statement generation, we also offer statement printing services. Our state-of-the-art printing infrastructure enables us to handle large volumes of statements efficiently. With our expertise in printing technologies and quality control processes, we ensure that the printed statements are accurate, legible, and reflect the professional image of your healthcare practice.

 

Consolidation of Patient Balances: Our Payments Control tool plays a crucial role in consolidating patient balances. By integrating data from various sources, including insurance payments, outstanding charges, and adjustments, we provide a comprehensive view of the patient’s financial obligations. This consolidation simplifies the statement generation process and saves healthcare providers valuable time and effort in managing vast amounts of data.

By partnering with Firstsource for Patient Statement services, healthcare providers can benefit from reduced bad debts, faster payments, cost savings, high-quality statements, improved patient and provider satisfaction, timely statement generation, and reliable statement printing services. Our commitment to accuracy, efficiency, and patient-centric approaches ensures that the patient statement process is streamlined, contributing to a more effective revenue cycle management for your organization.

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Eddie Monteiro

Eddie is currently Chief Operating Officer at Educational Testing Service (ETS), where he sets and drives the transformation agenda across the company and has responsibility for all technology and operations functions in addition to the College Board, K-12, and teacher licensure businesses. He previously ran business and technology services at Pearson, where he built a global team to enable scalable delivery of enterprise functions. Prior to that, while at IBM, he held several executive leadership roles in the US, Mexico and Brazil across a diverse set of industries and clients.
Geetha Krishnan

Geetha Krishnan

Geetha Krishnan consults with the Indian Institute for Human Settlements in Bangalore as Senior Advisor and Head of Digital Blended Learning, where he spearheads their online learning and continuing education portfolio. Over 25 years, Geetha has played senior roles in diverse sectors such as academia, online learning, and advertising. In his last role as Director – Centre for Executive Education at the Indian School of Business (ISB), Geetha was head of the profit center comprising more than 50 open enrollment and long duration programs and spearheaded ISB’s foray into online learning by enabling their partnership with Coursera.
Susan Aldridge

Susan Aldridge

Dr. Aldridge is an Executive Higher Education Consultant to university presidents and ministers of education regarding business models and technology-enhanced education. She recently retired from Drexel University after serving six years as president of Drexel University Online overseeing more than 125 online programs. During her six-year tenure as President of University of Maryland Global Campus (UMGC), she doubled the university’s enrollment to 97,000 – to become the largest public American university. She also served as Vice Chancellor for Troy University’s Global Campus managing online programs and satellite campuses in 12 countries and 17 states.

Alan Greenberg

Alan Greenberg

Previously Director Apple Education EMEA and APAC, Alan led the team that built Education Podcasting and iTunes U. He has worked on the development of Apple Education mobile strategy, iOS Education APPs, and developed the SEED CSR project in China, a collaboration between Apple, Foxconn, and Pearson. Executive Board of WideCells Group Plc, Group CBDO, and EVP & Founder of Wideacademy; his working contributions include multiple technology engagements providing domain expertise across digital, mobile, brand, scale-up, international business development, and venture capital.

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