HealthiPASS Insights

Frost-Arnett CEO Offers Insight on Strategic partnership to improve Patient net collection rates

Posted by Jason Meyer on Feb 15, 2018 4:30:50 PM

FA.pngThe following guest post was submitted by Jason Meyer, CEO of Frost-Arnett. For more information on the Frost-Arnett/HealthiPASS partnership, please click here.

The proliferation of high deductible health plans (HDHP) has resulted in a dramatic increase in the amount of healthcare that is paid directly from the patient. Per The Kaiser Family Foundation, a nonpartisan think tank, in 2016 the average deductible was $1,478, up 49% from 2011. Further, it is estimated that 25% of Americans now have high-deductible plans and there is no signs of that slowing down. As the out-of-pocket portion of the overall healthcare bill has increased dramatically, so has the amount that healthcare providers write off and end up in the bad debt setting. This has CFO’s, Directors of Revenue Cycle and Physician Practice Managers looking for alternative ways to collect more from their patients at the time of service.

With over 125 years of experience, Frost-Arnett is intimately familiar with the issue of collecting patient balances and the growing issue it is presenting our clients. As such, we continually monitor the marketplace for alternative ways we can help our clients improve collections, reduce accounts receivable outstanding and increase cash flow. We were very intrigued by the Health iPASS solution from the moment that we met Rajesh and his team. The front-end of the healthcare system – especially in the physician practice setting - has been historically very inefficient in collecting the patient portion. 

Typically that position is staffed by someone who has likely not been with the practice for a long time, has no incentive to ask for co-pays or past due balances and typically has not been trained to handle that process efficiently. Additionally, often the technology for the practice to estimate the patient pay portion of their bill is not present at the time of check in. So the point of service is not equipped to estimate and collect that amount at the time of the visit.
 

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Topics: Patient Check-in, Revenue Cycle Management, Point of Service Payments, Patient Consumerism, The HealthiPASS Solution, Patient Check-In Kiosks, Patient Debt, Medical Billing, healthcare payments, patient pay

How a Patient Payment Collection System Impacts Consumer Confidence

Posted by HealthiPASS on Dec 16, 2016 12:13:41 PM

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.

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Topics: Patient Perspective, Patient Consumerism, Patient Check-In Kiosks

3 Ways Patients Pay Medical Bills Differently Than They Want To Pay

Posted by HealthiPASS on Dec 12, 2016 1:32:41 PM

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. 

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Topics: Patient Check-In Kiosks, Medical Billing

What we learned at MGMA 2016

Posted by The HealthiPASS Sales Team on Nov 14, 2016 8:13:00 AM

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.

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Topics: The HealthiPASS Solution, Patient Check-In Kiosks

Changes to Make Kiosks More Administrator Friendly

Posted by HealthiPASS on Oct 25, 2016 1:13:35 PM

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.

[DOWNLOAD] These innovations can drastically improve patient collections

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Topics: The HealthiPASS Solution, Patient Check-In Kiosks

What Every Patient Payment Portal Should Have

Posted by HealthiPASS on Aug 1, 2016 9:30:00 AM

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.

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Topics: Patient Check-in, Patient Payments, Patient Check-In Kiosks

Patient Payment Systems Necessary To Break the Patient Bad Debt Cycle

Posted by HealthiPASS on May 12, 2016 8:51:16 AM

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.

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Topics: POS Technology, Patient Check-In Kiosks

Patient Check In Kiosk: The Answer To The Broken Patient Payments Cycle

Posted by HealthiPASS on May 4, 2016 8:30:00 AM

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.

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Topics: Revenue Cycle Management, Patient Payments, Healthcare Technology, Patient Check-In Kiosks