An effective patient payment collection system is a necessity for your healthcare organization's revenue cycle management. There's no question that the current trend in healthcare means that patients are paying a higher percentage of their own costs. For healthcare organizations and small practices, this means that the financial solvency of the organization relies on patient payments. In the past, these models often focused far more on payment through insurance and government funding. Securing patient payments isn't just about the financial bottom line. It also impacts healthcare consumer confidence.Read More
In a perfect world, we could all have everything we want. Alas, this will never be the case, but for medical providers looking for better revenue cycle management, insight into patients' minds may be the key to unlocking successful financial models.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.
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
If you’ve made it to the point that you’re considering using a patient payment portal to improve your collection of the patient yield, you’re in a great place. Study after study on revenue cycle management and medical billing shows that patients prefer an option that gives them transparency, confidence and convenience, and are receptive to paying under these conditions. Basically, they want the ability to pay comfortably and securely on their own terms.Read More
Unlike other industries, healthcare has been slow to adopt technology that would yield more financial success by streamlining the payment cycle. That narrative is changing thanks to rising self-pay payments. Providers are increasingly looking to patient payment systems that will streamline the revenue cycle from start to finish.
The patient billing cycle is broken. What used to take maybe just 30 days to collect can now take up to 100+ days or more, if you’re able to collect at all.