In an article posted April 19th, 2018 based on an interview with Health iPASS CEO Rajesh Voddiraju, Crain’s Chicago Business senior reporter John Pletz asks the question, “How much will you owe for that doctor's appointment?” This very question is what drove Rajesh to found Health iPASS after his own family was faced with medical billing frustrations due to a lack of clarity in the patient collection process.Read More
In a world where online bill payment has become the norm, the healthcare industry has woefully lagged behind when it comes to providing convenient and transparent billing and payment methods.Read More
It’s mid-April, and spring is in the air. People love spring because it’s a time of renewal. Folks can walk down the same old street, but there’s a new sweetness in the air that makes them feel awake and alive. That’s why spring is the perfect time for us to introduce our new Health iPASS branding initiative.Read More
Millennials, millennials, millennials. Am I right?
It’s pretty much impossible to live in the U.S. today and not hear about how the generation known as “millennials” are changing everything from the way we eat and drink, to real estate markets, to the very shape of the U.S. economy itself. As you may know, millennials are expected to overtake Baby Boomers in population by 2019, and Generation Xers are expected to surpass Boomers in population by 2028.
Stop me if you have heard this one before:Read More
When David Williams from Health Business Group asked me to be a guest on his podcast to talk about the current state of patient payments in healthcare, I jumped at the opportunity. Not only are David and his team dialed in to the latest innovative healthcare technology, they are experts in best practices and benchmarking, helping companies navigate and solve the complexities of issues such as how to optimize the patient revenue cycle.Read More
Topics: Patient Payments
Patients and providers have at least one thing in common: Both are frustrated by the costs and paperwork associated with asthma care. That shouldn’t come as a surprise: The total cost of treating asthma and its associated conditions in the U.S is $82 billion annually, according to research published in the Annals of the American Thoracic Society.Read More
Let’s say for a moment that your medical practice doesn’t suffer from slow and ineffective patient revenue cycle management (RCM). Your patient net collection rates are a-ok, and you laugh in the face of insurance claim denials. Why should you care about updating your RCM to an innovative, user-friendly technological platform?
One important reason is that millennials are coming, and this generation is slated to drive a massive sweep of change through the healthcare industry.
Millennials make up the largest portion of the American workforce, outnumbering even Baby Boomers since 2016. This huge group possesses an unsurpassed level of spending power for any generation in 2018-- $3.39 trillion dollars and rising. Even more important for your practice to consider is that millennials have been raised in a digitized world. They have come to expect and even demand the convenience and ease of handling most bill payment and purchasing online or through smartphone apps. Here are a few startling statistics regarding millennials and their approach to healthcare:
In a changing healthcare landscape, relying on the same old methods and systems to manage patient revenue is simply no longer effective. The pressing need for positive change calls for disruptive innovation, which is defined by Forbes contributor John Converse Townsend in his 2013 article as, “how industries transform to create more affordable and accessible products and services.” Many hospitals and small-scale health systems are seeking this kind of revitalizing disruption by switching to a new Patient Accounting System (PAS) to improve communication throughout the organization, drive efficiency, increase patient loyalty and empowerment, and boost cost savings while improving cash flow. Unfortunately, in most cases, a PAS conversion can be a massive headache. It takes the right people, tools, and technology to efficiently convert your PAS, but knowing the “symptoms” that lead to a need for disruptive patient revenue cycle innovation is the first step to making the switch to a successful solution.Read More
"If everyone is moving forward together, then success takes care of itself." --Henry FordRead More