Every Medical Billing Company, practice, or groups, established patient base is never permanent, and may not be as securely established as you believe. The method of enhancing retention is based on the doctors, staff, and everyone's ability to communicate internally. Surprisingly, the essentials revolve entirely around compassion. “Retention” and “attrition” are always part of the Internal Marketing strategy in healthcare. And the real question with both is: how much?
High retention rate and a low attrition rate
Any medical billing company will desire a high retention rate and a low attrition rate. Perhaps less clear is the fact that these criteria can be quantified, allowing you to determine your exact score. If you haven't done so recently, take a pencil and paper to compute how many patients you lose each year, and then compare that figure to your active patient base to get your attrition rate.
Of course, suitable percentages differ depending on the profession and specialty. Remember that some attrition is unavoidable. In their pursuit of new patients, good businesses understand that they cannot afford to take for granted the existing ties with present patients.
So, how can you structure your processes in a medical billing company to guarantee higher levels of patient retention?
Foundations for client loyalty in a medical billing company
In general, upwards of 70% of people who take their business elsewhere do so because they perceive an indifferent attitude. Granted, their perspective may not have been the product of a purposeful affront or discourtesy, but the result is still astounding.
In almost any healthcare context, the important parts of engagement, like increasing retention and minimizing attrition are proactive actions to prevent sending the impression of “indifference” to your internal public. Certain key factors are processes in a medical billing company to make sure higher levels of turnover.
Every connection is significant
It is more than just the first impression for a medical billing company, and it is more than simply the supplier. Always remember that every interaction is significant. Clients, other healthcare practices that serve as:
- Referral sources
- Insurance company representatives
Everyone with whom you interact and have a connection becomes your focus. They are the target audience for your brand's internal marketing.
Appreciate your clients
Successful practices maintain a consistent culture of respect, allowing no place for anyone like
- Family member
To feel that they are an intrusion or distraction to the bustling office atmosphere.
Pay attention to customers' demands
You and your staff must pay attention to patient needs and listen to them when they express their worries. Taking the time to hear about the long trek to and from the parking lot, or whatever the problem, it demonstrates that you care about them. Irrespective of the problem appears to be little or beyond your control.
Prepare for challenges and roadblocks
If you are running a medical billing company then it is not only about reacting, but also about anticipating difficulties that may influence patient retention. A proactive approach can have a significant impact on patient retention.
Confirm the appointment ahead of time
Reminding individuals the day before an appointment is good office and calendar administration, and it also shows that you appreciate their time. A top medical billing company will always make a note of these minute details. As such minor things can reflect the professionalism of an organization.
When visits are overdue, make contact
Make an extra effort to contact people who have missed an appointment or were supposed to return. A brief and simple reminder may be all that is required and often appreciated.
Key takeaways for a medical billing company
Of course, attrition can be an expensive concern for any medical billing company. It is not uncommon to discover attrition rates that result in annual revenue losses of hundreds of thousands, if not millions, of dollars. In that case, it makes financial sense to seek the assistance of a professional. A top medical billing company will cover its loopholes and will guarantee the comfort clients want to feel in a healthcare organization.