What’s worse than having a stubborn patient? For a practice, it’s having no patient at all.
Patient no-shows and cancellations are the bane of medical practices. They leave you unable to meet your daily target, cause undue stress and chaos, kill minutes of your time and consequently, the profit you could have earned making those minutes useful. Research shows that practices typically lose an average of 1 to 2 patients a day due to patient no-shows and cancellations. This can add up to almost $100,000 in annual profits lost! Even if a single no-show a day seems negligible, it definitely won’t be that way in the long run and on your bottom line.
Thankfully there are a number of simple ways you can effectively decrease patient no-shows and cancellations in your practice, and get paid even when they happen.
What is a Good Patient No-Show Rate for a Clinic?
A good patient no-show rate is generally considered to be below 10%. However, it’s important to understand that every practice is different. The no-show rates at different practices will change according to three factors which include their practice type and their geographic location and their patient demographic information. The no-show rate at private practices will differ from the no-show rate at large hospitals and clinics. The financial impact of no-shows can be substantial but your clinic can develop operational solutions through tracking its patient no-show rates. Your practice can boost attendance and protect its financial performance by establishing patient expectations and delivering prompt reminders and implementing effective cancellation procedures. The success of your implemented strategies can be assessed through monitoring your rates throughout different time periods.
Proven Strategies to Reduce Patient No-Shows and Cancellations
1. Always set appointment reminders. Make it a requirement to set appointment reminders with patients the moment they set an appointment with you. Ask your patients whether they would prefer email, text message or phone reminders, and also at what times they would prefer to receive the reminder. SMS reminders have become increasingly popular due to their convenience and the fact that many patients prefer quick, digital notifications. Text reminders provide a straightforward and efficient method to notify patients about their upcoming appointments, particularly when these reminders are sent after business hours. The use of phone call reminders provides a personal touch but results in higher expenses and requires more time to implement, which creates difficulties for practices with high patient volumes.
2. Charge a fee for patient no-shows and cancellations made less than 24 hours in advance (except for emergencies), which you can collect on their next appointment. Make sure to inform and repeatedly remind your patients about this fee, and that they should inform you of cancellations at least 2 days in advance.
3. Have a waiting list. In case you have a patient no-show or cancellation, you can easily fill that spot back by contacting patients on a short-notice appointment waiting list.
4. Keep track of your patients’ reasons for missing appointments. They could be things you can control. For instance, some patients may only be available on a specific day of the week, prefer a certain physician or are covered by a different insurance carrier. If patients miss appointments due to unforeseen scheduling problems, or if they prefer instant appointments with no waiting times, you could put them on your waiting list and contact them immediately when a schedule opens up.
5. Allow prepayment. When patients prepay, they have an incentive not to miss their next appointment. You could even put a discount on prepayments.
6. Always thank patients who inform you of cancellations or reschedule way ahead of time. Your show of gratitude can go a long way to fostering this practice.
7. Schedule appointments properly. Schedule as accurately as you can so patients don’t have to wait too long. Long waiting times can lead patients to think you don’t care about their time, and cause them to cancel their next appointment. Also, schedule appointments as close to the initial patient call as possible. The longer the time lapse between the appointment setting and the actual appointment, the more likely it will be forgotten.
8. Have a reliable electronic medical record system. This can help you keep better track of clients, appointments, bills, reminders and cancellations, especially when working with a professional physical therapy billing service.
If you’re looking for a reliable medical billing company in NJ, turn to Park Medical Billing. We work closely with our clients to provide customized and highly efficient EMR solutions that help practices perform at their best in order to achieve the best results. With our help, your practice need never be bogged down by appointment or medical billing problems again.
Get to know more about our services. Contact Park Medical Billing and call 1-201-585-7306 today
