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In healthcare, provider cash flow is becoming tied more to patient collections than ever before. High-deductible health plans are a major contributing factor to this increase and can be a significant challenge for providers.

As a result, providers are now often looking for ways to increase patient collections, while also keeping overhead costs low. Payment reporting can give providers valuable insight into healthcare payments, and ultimately optimize patient collection efforts.

The right payment reports can make a world of difference to provider organizations. With the right reports, providers can understand patient collections, including the performance of various payment channels and methods. Plus, reconciliation and tracking of payments are faster and more effective with robust reporting. Providers can also use reports for insight into:

  • Payment channels that patients use more often
  • Percentage of payments by credit card or paper check
  • Percentage of payments still outstanding
  • Collection rates for different staff members and locations

To get this insight, there are four essential payment reports that every provider organization needs to use consistently. These reports can do such things as show and summarize payment activity, display deposited funds, and more.

Download this business tool for the four payment reports that can help providers to optimize current resources and increase patient collections.