Medical providers most times may face financial difficulties from inadequate to untimely payments from patients.

Patient payment is a necessary aspect of revenue cycle in healthcare as it enables the smooth running of administrative activities in hospitals.

 CHALLENGES FACED WITH PATIENT PAYMENTS

According to Tech Target several challenges have been listed to be faced, with patient payment and the list goes further on.

Healthcare tend to face a lot of hurdles collecting and reconciling patient payments as follows:

1. 1. Absence of transparency with prices:

Patients are most times left stunned and confused when handed their cost estimate, making it difficult and leaving them unprepared to pay their bills, it is advisable to offer patients their cost estimates prior to an appointment as it enables them to get prepared and knowing what their treatment amounts to, the Hyella solutions makes it possible to readily know a patients estimated cost.

2. Complex pricing and payment process:

Most times patients are readily aware of their cost estimation yet payments are often times still difficult with unclear payment processes and lack of understanding, not knowing if a treatment offered is covered by nhis or is an out of pocket payment, patients should be aware of payment methods or options to enable them make payments as at when due.

3. Lack of Automated Billing:

This eases the revenue cycle by speeding up payment as it is convenient and fast, most times hospitals do not offer an electronic method of making payments thereby delaying and creating difficulties in patient payments.

4. Cashless Policies and Pricing

It is without a doubt that the various laws and policies put in place by the financial sector on cash flow, withdrawal and disbursement has dwindled the patient payments in hospitals, making it impossible for patients to readily pay for treatments received due to restrictions put in place on the amount that is allowed to be withdrawn or transferred.

Conclusion

Medical practitioners rely on patient payments to cover various expenses such as staff salaries, equipment maintenance, rent, and supplies. Without adequate and timely payments, medical providers can face financial challenges that can impact their ability to deliver quality care.
To improve payment collection it is advised that patients are made aware of the various alternatives for easy payments made available to avoid pending disaster.