Clear financial communication reduces both patient and practice frustration and enhances the overall patient experience, leading to practice loyalty and an enhanced practice reputation. For these reasons, optometrists and their staffs should strive to provide both clear and consistent billing practices.
Here, I provide 3 action steps to achieve this:
1. Provide Cost Estimates Upfront
Giving patients a detailed breakdown of their anticipated costs before services are rendered allows them to make informed decisions. (Keep in mind that many patients avoid scheduling eye exams or purchasing eyewear due to uncertainty about related costs.) I recommend offering patients a pre-appointment cost estimate that outlines exam fees, diagnostic test fees, and potential eyewear expenses, with a clear explanation of their insurance coverage vs patient-pay costs. In addition to increasing the likelihood of patients scheduling appointments and purchasing eyewear that can benefit them, providing cost estimates upfront can enable practices to minimize unwelcomed “surprises” to patients, and help them budget accordingly.
2. Enhance Insurance Coverage Clarity
Because many insurance policies have copays, deductibles, and varying coverage limits that make predicting patient financial responsibility difficult, I suggest ODs train staff to:
- Explain insurance benefits in simple terms, such as “comprehensive annual exam” vs. using vague medical coding.
- Offer online tools or printed guides that outline coverage details and potential costs.
- Encourage patients to contact their insurance provider for further clarification before their appointment.
- Provide clear, itemized invoices that highlight insurance contributions vs patient responsibilities.
3. Consider Modern Billing Solutions
Digital billing tools are available to enable optometric practices to provide clear and consistent billing practices, reducing administrative burden, while providing patients greater visibility into their costs. Features of such tools can include:
- Real-time cost estimation tools, such as benefit calculators, based on a patient’s insurance plan.
- Online payment portals to facilitate making payments.
- Email and text reminders to help prevent missed payments.
- Automated insurance verification systems to allow practices to confirm a patient’s eligibility before an appointment.
- Artificial-intelligence-powered chatbots to answer billing-related questions, guide patients through their statements, and assist with setting up payment plans.
- Secure digital payment methods, such as credit-card processing, Apple Pay, Google Pay, and Health Spending Account/Flexible Savings Account card integrations.
- Augmenting Trust
Billing transparency isn’t just about preventing disputes. It’s a fundamental part of augmenting trust among optometry practices and their patients. When cost estimates are clear and consistent, patients feel more confident in their eyecare providers. This can lead to improved patient retention, streamlined administrative processes, and an enhanced practice reputation. OM
