The time of year in which we give thanks for the things that make our lives wonderful is upon us. While we're certainly thankful for family, friends, and good health, we'd be remiss if we, as a company, didn't express our gratitude for some of the things that make our patient billing and payment industry so great.Read More
There have been many takeaways to process and many people engaging with us since MGMA ended on November 2, but we’re finally catching up, and ready to share our experience from arguably the most important industry gathering of the year!
The conference featured hundreds of medical practice executives, administrators, physicians, vendors, industry experts and speakers, which gave us an invaluable opportunity to interact with some of the most influential people in healthcare.
Many stakeholders have traditionally viewed healthcare as a physician-centered industry, devising care delivery models accordingly. However, surveys of patient satisfaction with this approach reveal that a different perspective is needed, especially as patients are making more decisions about, and taking increased financial responsibility for, their healthcare. When asked what they really want from providers, patients report that their most important concerns center around symptom relief and being respected as individuals.Read More
To maximize revenue, many practices adopt what seem like practical measures to cut costs, such as reducing employee rosters or limiting upgrades and innovations. While these solutions may have some short-term effects, a long-term, patient-centered approach will produce better results. Focusing on patient satisfaction improves financial outcomes for providers. As patients take increasing control of their care and shoulder greater payment responsibilities, it makes sense for providers to accommodate their preferences as much as possible. A patient-centric approach enables doctors to retain and even grow their patient base, optimizing profitability.Read More
Kiosks are transforming the customer service experience for patients. However, the importance of making kiosks more administrator friendly is often overlooked. Patients can only have an optimized customer service experience using kiosks if administrators can easily access them as well. Administrators need to be able to complete front-end tasks as efficiently as possible. Toward that end, several helpful features enhance ease-of-use by staff.Read More
In today's digital environment, consumers can complete financial transactions through a variety of devices. With the growth of online banking and retail, most businesses have developed consumer-friendly billing channels, providing clear invoices and a selection of payment options.Read More
Since the healthcare field is constantly evolving, it can be challenging to develop solutions that enable you to operate your practice more efficiently and provide a positive customer service experience for patients. Patients are making more decisions about their care than ever before. Providers need to incorporate best practices that encourage patients to partner with them in taking responsibility for their health. With an increasing emphasis on person-centered care, high-quality software should facilitate patient engagement. Patients who take an active role in their care have higher rates of recovery.Read More
As the effects of the ACA continue to ripple through the world of medical care, providers have seen their first quarter revenue cycle fall into disarray in recent years. Because patient deductibles reset in January, they'll face a use-it-or-lose it situation from now until the end of the year. Further, many deductibles have risen to levels many patients will find difficult to bear financially. Coupled with higher deductibles will be higher co-pays and possibly severe reductions in coverage for those whose insurance comes through an employer. What does all this mean for your practice?Read More
As high-deductible health plans become the rule rather than the exception and physicians collect increasing amounts of revenue from patients rather than insurers, providers need to offer payment flexibility through multiple channels to ensure they collect as much revenue as possible. Additionally, as tech-savvy consumers rely on electronic forms of payment, they are less likely to have cash on hand to cover co-pays and deductibles. The fact that "cash is no longer king" should create an impetus for providers to establish methods of payment that patients will be motivated to use.Read More
In the new healthcare economy, you can't afford to treat patient payments as an afterthought. With healthcare consumerism on the rise, those who don't optimize for self-pay payments will be left behind. David W. Johnson, author of Market vs. Medicine, joins us on Thursday,September 29 at 1 Eastern/12 Central to share his takeaways as a thought leader in healthcare market changes.Read More