Radiology Payment Processing

Radiology Payment Processing

Radiology is one of the most complex medical specialties. It can also be one of the most difficult in terms of billing and patient collections. Radiology groups are under increased pressure to move through patient rosters quickly – which can result in documentation omissions. Unfortunately, consistent documentation gaps can, in turn, lead to under-coding that results in lower reimbursement. Radiology organizations need efficient and effective payment solutions to keep revenue flowing, especially in situations where billing resources are stretched to the limit – every penny counts when your collections are under pressure.

Because of the unique needs of radiology practices, we recommend they consider the latest technology in payment processing for radiology practices such as payment plans with credit-card-on-file, email and text reminders about upcoming payment due dates, and text-to-pay.

For many organizations, patient payments are one of their most significant revenue streams. When considering the average price ranges of radiology procedures, it is easy to understand why some patients may opt out of receiving a scan or treatment.

Average pricing according to Two Views:

  • CT scans: $270 – $4,800

  • Mammograms: $23 – $1,929

  • MRI scans: $200 – $13,000

  • Ultrasounds: $200 – $4,000

  • X-rays: $100 – $1,000

Benefits

Convenient and flexible options can make or break overall patient payment collections ratios, which greatly impacts the financial health of a group or health system. And, convenient and affordable choices may encourage patients to get the tests and procedures they need.

Radiology patient payment solutions need to work efficiently with practice management systems to keep patient account receivables in check. They require the flexibility of taking patient payments at time-of-service, online and via text, and greatly benefit when they offer patients payment plan options.

Practice Management Bridge

Our proprietary Practice Management Bridge® creates more consistent radiology patient payments, resulting in increased payment processing efficiency and stable cash flow. Rectangle Health integrates with any practice management system and our functionality is an attribute no other enterprise can match in size or scale. Additionally, working with our integrated system allows you to track, manage, report and reconcile payment information across your organization.

The latest payment technology for radiology patient payments can go a long way to help an organization’s overall collections. However, there are also practices and procedures successful radiology groups can employ to keep their revenue cycle moving and increase cash flow.

Some Strategies Include:

Rectangle Health Guarantee

If you don’t see a dramatic reduction in accounts receivable balance after a few months of instituting our full program, we’ll take the entire system back at no charge to you.
FEEDBACK