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
If you’ve checked out our newly rebranded website, you might have seen the bio of our founder and CEO Rajesh Voddiraju. To quote his site bio, “Rajesh is smart. Really smart. So smart that we now have a jar where we drop $1 every time we learn something new from Rajesh. The jar has to be emptied once a week.” There is no doubt that we here at Health iPASS recognize Rajesh as an amazing source of information and insight about the financial side of the healthcare industry. That’s why we recently asked him to share some of the top ways revenue cycle management will be changing in the coming months. This week, we are focusing on the first of these predictions.Read More
We have exciting new to share! Health iPASS has been nominated for the 2018 Chicago Innovation Awards which recognizes pioneering products and services created by Chicago-based businesses. Even back in 2015, Chicago was thought to be the future hub of healthcare IT due to its high concentration of prestigious medical associations such as The American Medical Association (AMA) and the American Academy of Pediatrics (AAP), groundbreaking teaching hospitals, and influential healthcare publications. Chicago is also home to a large number of payer and practice management system headquarters. Certainly, Health iPASS is proud and grateful to be a part of such a robust and extensive healthcare IT community with the support of so many talented individuals within our network.Read More
Even though we are still in the dog days of summer, signs of fall are already starting to manifest all around us. In stores, aisles of pool floaties, grill accessories, and sunblock are being replaced with school supplies. Swimsuits, shorts, and tank tops are on clearance. Before we know it, we will be enjoying football season, drinking cider, and raking up leaves.
Fall, (especially late fall) is also the season for patients to decide to finally have those elective procedures they have been thinking about. According to a recent analysis of claims data by Amino, nearly 30% of patient interactions for some elective procedures occur in October, November, and December. Perhaps now is the time to consider putting an effective patient revenue cycle management (RCM) tool in place before the scheduling of elective procedures even begins.
It All Begins with Price Transparency
You care about your patients. That’s why you became a medical provider. Whether the elective procedure you’ve recommended is medically necessary or not medically necessary, the recommendation was made in the best interest of the patient. Price transparency is the key to encouraging patients to follow through on your advice. When patients know what to expect regrading costs, they can budget and save for the upcoming expense.
The good news is that providing cost of care estimates can be so much easier than you think when you choose the right patient RCM solution. Health iPASS is leading the charge towards greater healthcare price transparency with our cost estimation tool that can provide valuable post-insurance adjudication estimates pre-arrival, at the time of service, at the time of the claim, and pre-surgery.
Being honest and upfront about pricing with patients builds trust and ultimately leads to higher patient satisfaction and better health outcomes over time.
Update Your Payment Model
For lower-cost elective procedures that insurance does not cover, such as Botox, many providers routinely collect the full treatment cost at point-of-service. This same payment model could be adapted to fit insurance eligible, higher-dollar procedures and surgeries by providing pre-visit and pre-surgery cost estimates, asking for a pre-service deposit, and keeping a payment-on-file for post-adjudication residual balances.
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
Jim Henson’s beloved character Kermit the Frog famously said, “It’s not easy being green.” However, due to the technological advances in our modern society, going green has actually become simpler and more beneficial to businesses and consumers than ever. How can healthcare providers do their part? One significant step in the right direction is switching to a paperless billing and payment system.Read More
Guess what? Lightening does strike twice! After a successful Illinois MGMA conference this past weekend in Naperville, IL, Health iPASS is thundering back again July 19-20 at the Indiana Medical Group Management Association (IMGMA) Annual Meeting at the beautiful French Lick Resort in French Lick, IN. The reserved block of rooms is fully booked, so it appears people are looking forward to attending!Read More
Health iPASS is attending the 2018 IL MGMA conference this week (July 12th and 13th) in Naperville, IL where we hope to connect with medical practices and discuss strategies they can implement to better optimize their patient revenue cycle. This year's conference theme is: "Teeing Up Your Practice for a Hole in One" and features pre-scheduled educational sessions covering topics such as:Read More
Most millennials like myself grew up playing video games, whether it was online or through consoles like Wii and Xbox. What intrigued me the most about playing video games was the challenge of conquering each consecutive level as quickly as I could. My gaming experience fuels my eagerness to see instant results in the work that I do -- a trait that I have carried along through the years, and I'm sure I'm not the only one. Traits like this are cultivated from the fast-paced, technology-fueled society in which millennials have grown into adulthood. These generation-defining traits will have a deep impact on the evolution of the modern workplace, forcing unconventional changes to take place.Read More
One of the telltale signs that the hard work you put into making your company a success is paying off comes through recognition from prestigious and influential organizations. Today, we want to share the good news that Health iPASS was just named as one of the 2018 20 Most Promising Technology Companies by SiliconIndia!Read More