It’s springtime again, folks! I don’t know about you, but I’m getting the home improvement itch! When I’m working on a project, I love using tools that have multiple capabilities through different configurations and attachments. You get a lot more bang for your buck, the different tool capabilities complement and enhance each other, and you only have to haul one box out of the shed! At Health iPASS, we love our channel partners because they allow our platform and theirs to do just that—increase the functionality of each organization’s technology and strategically leverage each other’s networks to increase our market reach.Read More
2018 proved to be yet another challenging year for medical providers tackling the growing risk of collecting patient payments. The surge in high deductible health plans and the sharp rise in patient out-of-pocket expenses for the cost of care over the past 5 - 6 years is catching up with practices who have maintained patient revenue cycle status quo and not proactively implemented technological solutions that drive automation and streamline workflow to more effectively collect a larger percentage of what patients owe.
Join us tomorrow for a panel discussion webinar as we look back at some of the most important events of the past year that impacted the patient revenue cycle, discuss the current barriers that exist to guaranteeing patient payments, and forecast what may lie ahead in 2019 that could further impact the ability of medical providers to improve patient collections (*hint - it's not continuing to do business as usual).
We have assembled a smart panel of medical practice CEOs and are pleased to welcome the Executive Director of Illinois MGMA to share their insight, real world experience, and prognostications of what the future may hold. The webinar will be moderated by Health iPASS CEO Rajesh Voddiraju.
There are still spots open for tomorrow's panel discussion webinar on strategies to improve patient payments in healthcare, we encourage you to sign up and sit in to learn and ask questions. We will be recording the session and distributing it to anyone who signs up to attend. Please share with a friend or colleague who you feel could benefit!
We hope to see you tomorrow for the webinar!
Health iPASS is proud to announce that we have recently topped off our $7.2 million dollar Series A funding with an additional $3.0 million from QED Investors – the financial technology-focused venture capital fund led by Nigel Morris, co-founder of CapitalOne. This investment from QED Investors will allow Health iPASS to further our mission as we help medical practices optimize their patient revenue cycle and improve the patient experience from appointment to payment.Read More
In terms of business finance, there are few things as frustrating as bad debt. The product has been delivered, or the service rendered, but when it comes time for payment, nothing. Recent studies have shown that medical practices accumulate roughly $66 billion in bad debt per year, and this statistic only grows over time as patients bear a larger burden of their healthcare costs due to the prevalence of high-deductible healthcare plans. When factoring in poor patient net collections and aged A/R, the big picture is bleak-- depicting a healthcare industry that is hemorrhaging money, forcing small to mid-sized practices to close their doors forever. What can providers do to staunch the flow of uncollected revenue and start putting money back in their pockets, where it belongs?Read More
Health iPASS is excited to announce our newest partnership with Illinois Bone and Joint Institute (IBJI), one of the largest orthopedic group practices in Illinois. Our team has been working hard to develop this relationship, and we are proud that a market mover such as IBJI has selected us as their patient revenue cycle solution.Read More
Take a look around in nature, and you will see thousands upon thousands of examples of symbiotic relationships between different organisms. Symbiotic relationships are those in which both parties experience mutual benefits. Think of the clown fish and anemone in Finding Nemo. As Health iPASS continues our mission to lead patient revenue cycle management we continuously seek this type of win-win relationship with those who swim in our same industry fishbowl.Read More
The world of finance has always been a constant exercise in assessing performance and then comparing that performance to a standard, or benchmark. The healthcare industry is particularly acute at paying attention to benchmarks since many areas of performance are tied into meeting or exceeding standards in order to receive compensation, recognition, or to qualify for incentives and discounts.Read More
The idea seemed simple. Create a medical insurance group and establish a network of care rendered by doctors and other professionals who have agreed by contract to treat patients in accordance with the medical insurance group's guidelines and fee schedules. Stay inside the network and associated medical fees are covered. Go outside the network and risk facing pricey medical bills that the insurance company won't cover. Simple in concept yes, but as managed care evolved in the U.S. and cost containment initiatives became more complicated to administer, many doctors and providers began to drop from managed care networks in favor of more lucrative payer models, but this created even more reimbursement complexities and confusion.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
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