It’s wise for any business to focus on the core tasks they do well and outsource everything else. This is especially true in an industry like healthcare, where a practice’s primary function – improving patients’ lives with diagnoses and treatment – is extremely important.Read More
According to Becker’s Hospital Review, medical payments in the U.S. are a $3.3 trillion market. Advancements in payment collection technology help providers reduce the frequency of underpayment, whether they are collecting from patients or insurance companies.Read More
Medical practices in Utah must adhere to the new Healthcare Debt Collections Amendment (HB128), requiring healthcare providers not to send any unpaid patient bills to collections or report them to a credit bureau without following a new notification requirement.Read More
As a healthcare professional, you want to deliver the very best care and experiences to your patients, but you also need to do right by your business. If you haven't set your practice up for success by employing patient collection best practices, your revenue cycle management (RCM) processes are likely forcing you to lose out on essential income.
If you're trying to improve patient collections in your medical organization, take a look at these seven simple strategies:
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
With all of the factors involved in treating patients and everything encompassed within delivering high-quality healthcare, it may seem almost too reductive to whittle everything down to a single essential word. But while there obviously are many factors to delivering great care that satisfies consumers, there’s one simple word that, if you implement this, can work wonders -- increasing both patient satisfaction and collections.Read More
In a recent survey by TransUnion, a shockingly low number of Americans revealed that they felt that their healthcare provider was “clear and upfront” about the cost involved in their care.
Let’s face it – we do not have the tools nor the infrastructure (especially small to mid-sized groups) to provide the level of transparency that the healthcare consumer expects.Read More