HealthiPASS Insights

7 Simple Strategies for Improving Patient Collections

Posted by HealthiPASS on Jan 17, 2017 9:20:00 AM

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:

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Topics: Patient Payments, Patient Consumerism, Financial Transparency, Patient Collections

What Donald Trump's Presidency Means for Healthcare Providers and Patients

Posted by HealthiPASS on Dec 22, 2016 2:35:25 PM

 

The outcome of the recent Presidential election has left healthcare providers and patients wondering how Donald Trump's rise to the Oval Office will impact healthcare, especially considering his plans to amend the Affordable Care Act. Initially unveiled during the campaign, Trump's healthcare reform outline includes seven provisions that could have a significant impact on costs and availability of services.

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Topics: Patient Perspective, Patient Payments, healthcare payments

December 14 Webinar Provides Insight on Collecting More in 2017

Posted by HealthiPASS on Dec 7, 2016 3:10:02 PM

It’s a difficult time to be a healthcare practice - which will still be true in 2017.

Collecting from patients, who are often paying out-of-pocket expenses, is a totally different process than collecting from insurance payers. Patients want different things -- they crave clarity, like to evaluate options and value user experience. We'll have to get used to patient payments: 74 percent of providers saw an increase in patient financial responsibility in 2015, according to InstaMed’s trends report.

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Topics: Patient Perspective, Patient Payments

Why we're thankful for patient self-pay technology

Posted by HealthiPASS on Nov 21, 2016 1:58:20 PM

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.

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Topics: Patient Check-in, Patient Payments, Healthcare Technology, Self-Service Technology

The Financial Advantages of Satisfying Patients

Posted by HealthiPASS on Nov 2, 2016 9:12:18 AM

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.

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Topics: Patient Satisfaction, Patient Payments

What Consumers Want When Making Healthcare Payments

Posted by HealthiPASS on Oct 19, 2016 9:04:44 AM

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.

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Topics: Patient Payments, Medical Billing, Digital Payments, healthcare payments

Eight Elements of a Software Solution That Meets Patient Needs

Posted by HealthiPASS on Oct 13, 2016 2:21:21 PM

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.  

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Topics: Patient Satisfaction, Patient Payments, Patient Consumerism

How Payment Collection Flexibility Boosts Patient Yield

Posted by HealthiPASS on Sep 30, 2016 8:55:50 AM

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.

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Topics: Patient Check-in, Patient Payments

Join Us For A 9-29 Webinar That'll Change How You Think About Patient Payments

Posted by HealthiPASS on Sep 27, 2016 10:57:55 AM

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.

CLICK HERE TO REGISTER

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Topics: Patient Payments, Patient Consumerism

Why You Can't Afford to Wait on Collecting Medical Bills

Posted by HealthiPASS on Sep 22, 2016 9:00:00 AM

More than ever before, doctors are relying on patients rather than insurers for increased revenue. As recently as ten years ago, doctors collected a mere 5-10% of their revenue from patients; today they're collecting upwards of 30-35%. That number is likely to increase even more as many consumers face high deductibles and co-pays. In addition, the new industry emphasis on wellness-based care means more frequent doctor visits. Since the trend is so new, patients are only beginning to adjust to their increased out-of-pocket payment responsibilities. 

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Topics: Patient Payments, Medical Billing