Patient Statement
Accounts Receivables (or AR) is money owed to the provider based on the different patient accounts for services rendered. AR is payable by insurance firms and patients. It is an indication of the revenues earned or generated but not realized. The aggregate of the money that is owed to all providers, the practice can expect the money to be paid in the course of the month or over a period of time.
Patients often delay the medical bill payment if they don’t understand their statement. It generally happens because of the complex structure of statements, and the patients claim a lack of transparency and deny or delay the payments. The medical billing staff usually tries to explain the statement to the patients, but the terminology and jargon used are tricky to understand, resulting in disappointment to both ends.
WellMed generates quick, easy, and accurate patient statements using automated patient billing software so that there is no delay or denial in payment caused by them. These statements have legibility and transparency to speed up the payment process.
Overview of WellMed Patient Statement Service
Generation of Statement
WellMed leverages automation-enabled RCM services to coordinate with the practice to generate straightforward statements. We put only the relevant and understandable data so that patients do not have any confusion or difficulty while paying the bills. We arrange the following datain the patient statement to make it detailed yet simple.
- Due Amount
- Amount Paid by Insurance Companies
- Date of Payment
- Contact information
Mailing of Statement
Once the patient statement gets generated, it is sent to them automatically through email or SMS. Patients can directly choose to pay online through a secured payment gateway link provided along with the statement.
WellMed Features:
Patient Friendly Statements
We work with the providers to create patient statements that are easily understandable.
Doubt Solving
If the patient has any doubts or questions regarding the payment, our team is always available to solve them.
Patient Portal
We enable automated payment posting using our payment portal for providers to collect the amount online via credit card or other modes of payment.
Benefits of WellMed. Patient Statement
- Timely generation and delivery of patient statements
- Improved payment collection
- Detailed and quality statements
- Quick turnover
- Improved user experience and patient satisfaction
WellMed is a Tech-enabled RCM service provider capable of generating accurate statements and collecting timely revenue from patients.