The Leader in Ophthalmology

Billing Increases Collections with Improved Patient Engagement

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SUCCESS STORY:

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Summary

Practice Management Resource Group (PMRG) is the leader in ophthalmic medical billing. Their leadership is built on a foundation of billing expertise that provides best practice applications and consultative advice to achieve optimal collections for all PMRG clients. They were looking for ways to increase collections for their practices through better patient engagement but the offering from their RCM vendor wasn’t up to their standards. They teamed with Inbox Health and increased collections for the initial practice by 18%.

Practice Management Resource Group (PMRG) has been a leader in increasing the financial performance of ophthalmology practices for over 30 years. Located in Tinley Park, Illinois, PMRG is staffed with ophthalmic billing professionals who handle all aspects of insurance and patient billing, leveraging state-of-the-art software and a leading-edge clearing house. Outsourcing billing and receivables management to PMRG means that practices have a real partner in running their business so physicians can focus on practicing medicine.

PMRG understands that increased collections are directly correlated with better patient engagement. There was a need to personalize the billing experience to the preferences of their ophthalmic patient population and offer different and easier ways for everyone to pay.

“I love Inbox Health. My time can be focused on practice management rather than resolving billing issues or chasing patients for overdue payments.”

The Solution

Inbox Health, a Connecticut based company, delivers a personalized patient billing experience through intelligent interactions that reduces waste and improves payment metrics. Its mission is to make every patient payment experience clear and convenient, which is a mission that aligns with PMRG’s values and is exactly what it was looking for to improve patient billing engagement.

PMRG doesn’t force its clients to do anything. They provide advice on ways to improve collections and suggest solutions to practices that they believe will benefit patient billing engagement. After an initial consultation, Inbox Health was launched with the first PMRG practice in June 2018.

Unlike other solutions, the on-boarding process was quick and seamless. Inbox Health customized the billing cycle for the practice based on patient demographics and preferences, and the Inbox solution sent out electronic and paper statements within the week. The PMRG team and practice were provided access to the Inbox Health platform to ensure the billing lived up to PMRG quality standards.

The Results

18% Increase in Patient Collections

Since the initial launch with the first practice, PMRG has introduced and deployed Inbox Health with three more practices. Patients want a new way to engage with their bills, and the results show it. Over 60% of PMRG patients that received an email bill opened and engaged with that bill. On top of that, more than 25% of all PMRG patients with Inbox Health went to the online portal to pay their bills - a portal that did not exist prior to deploying Inbox Health. PMRG knew that this was right for their Ophthalmology practices and their patients when they determined that 45% of the patients paying directly in the portal were 100% digital, never having received a paper statement.

There was uncertainty whether the new communication and payment methods would resonate with the older patient demographic. PMRG understands its Ophthalmologic patient base. They also knew that the current patient payment model was ripe for disruption.

Reduction in Paper Statements

Better patient service is key to PMRG’s success, but they know increased collections are of paramount importance. Comparing the first six months with Inbox Health to the prior six months before Inbox Health, one of the early adopters increased patient collections by 18%.

A recent McKinsey report on omnichannel consumer interactions found that 77% of consumers would prefer to use digital channels to pay their medical bills. Teaming with Inbox Health, PMRG has guaranteed that its practices reach and communicate with their patients through preferred channels so they can continue to improve the financial well-being of their clients.

Enhanced Patient Experience