Health iPASS Revenue Cycle Insights

Find Out How to Optimize Patient Payments as Elective Procedure Season Approaches at the Midwest AAOE Fall Meeting

Posted by Greg Rakas on Oct 11, 2018 11:49:48 AM

You know what’s a great way to spend a crisp, mid-October weekend? Driving through the mountains, enjoying the changing fall leaves, and maybe stopping by a quaint roadside stand for some hot cider. If you are down in the Ozarks, why not stop by the Midwest AAOE Fall Meeting? Health iPASS will be there, sharing our patient revenue cycle solution with providers looking to optimize patient payments, boost patient engagement, and provide greater price transparency.

Read More

Topics: orthopedic practices, Patient Payments, elective procedure, price transparency, patient revenue cycle, revenue cycle predictions

Patient Engagement, Patient Revenue Cycle Solutions, and Payment Guarantees - Takeaways from MGMA 2018

Posted by Tina Anderson on Oct 5, 2018 10:45:04 AM

It has been a whirlwind few weeks at Health iPASS as we have been making final preparations for the National MGMA 2018 Conference. There’s nothing quite like finally seeing our custom-designed booth on the trade show floor, our check-in kiosks that are redefining the patient revenue cycle set up and ready, our new video looping on multiple TVs in the background, and our team’s smiling faces, pumped up and ready to share the Health iPASS solution with conference attendees (gazes wistfully into the distance). Ah well, I’m sure you’ll forgive me if I wax poetic.

Read More

Topics: MGMA2018, improve patient collections, patient engagement, patient revenue cycle, price transparency, The HealthiPASS Solution

Optimize Patient Payments and Join the 97% Residual Balance Collection Club With Health iPASS!

Posted by Rajesh Voddiraju on Sep 26, 2018 3:00:00 AM

In terms of business finance, there are few things as frustrating as bad debt. The product has been delivered, or the service rendered, but when it comes time for payment, nothing. Recent studies have shown that medical practices accumulate roughly $66 billion in bad debt per year, and this statistic only grows over time as patients bear a larger burden of their healthcare costs due to the prevalence of high-deductible healthcare plans. When factoring in poor patient net collections and aged A/R, the big picture is bleak-- depicting a healthcare industry that is hemorrhaging money, forcing small to mid-sized practices to close their doors forever. What can providers do to staunch the flow of uncollected revenue and start putting money back in their pockets, where it belongs?

Read More

Topics: The HealthiPASS Solution, price transparency, Patient Payments, provider bad debt, Patient Collections

Learn the Secrets of Achieving 97% Patient Collections, How to  Optimize Patient Payments and Much More at MGMA 2018, Booth #2438

Posted by John Trader on Sep 25, 2018 9:14:36 AM

As famous artist and cultural icon Andy Warhol once said, “The idea of waiting for something makes it more exciting.” So true, but finally the wait is almost over!

Read More

Topics: MGMA2018, Patient Payments, The HealthiPASS Solution, price transparency, patient revenue cycle

IBJI Chooses Health iPASS to Help Optimize Patient Payments and Promote Price Transparency

Posted by Rajesh Voddiraju on Sep 19, 2018 3:00:00 AM

Health iPASS is excited to announce our newest partnership with Illinois Bone and Joint Institute (IBJI), one of the largest orthopedic group practices in Illinois. Our team has been working hard to develop this relationship, and we are proud that a market mover such as IBJI has selected us as their patient revenue cycle solution.

Read More

Topics: price transparency, Patient Payments, HDHPs, The HealthiPASS Solution, patient revenue cycle, healthcare consumerism

Boosting Patient Payments Through Increased Price Transparency

Posted by Kenny Levine on Sep 5, 2018 6:00:00 AM

In the movie Field of Dreams, Iowa farmer Ray Kinsella repeatedly hears the now famous phrase, “If you build it, they will come,” whispered by a ghostly baseball player who is glimpsed walking through the cornfield. Kinsella is inexplicably compelled to build a baseball field on his farm in hopes that legendary baseball players will play on his property. Can those in the healthcare industry cock an ear for just a moment to hear a similar distant call? If you listen closely, you can hear it on the wind: “If you inform them, they will pay.” 

Read More

Topics: patient revenue cycle, Patient Consumerism, price transparency, Credit Card on File

Health iPASS Announces Our Nomination for the 2018 Chicago Innovation Awards

Posted by Imran Ahmad on Aug 16, 2018 12:09:05 PM

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

Topics: The HealthiPASS Solution, patient revenue cycle, Patient Satisfaction, price transparency

It’s Nearly Elective Procedure Season!  Better Upgrade Your Patient Revenue Cycle Technology

Posted by Corbin Blakey on Aug 11, 2018 6:00:00 AM

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.

Read More

Topics: Patient Payments, price transparency, patient revenue cycle, Revenue Cycle Management, elective procedure, Credit Card on File

Rhode Island Latest State to Enact Healthcare Price Transparency Legislation

Posted by Rajesh Voddiraju on Jun 11, 2018 12:53:25 PM

The idea seemed simple. Create a medical insurance group and establish a network of care rendered by  doctors and other professionals who have agreed by contract to treat patients in accordance with the medical insurance group's guidelines and fee schedules. Stay inside the network and associated medical fees are covered. Go outside the network and risk facing pricey medical bills that the insurance company won't cover.  Simple in concept yes, but as managed care evolved in the U.S. and cost containment initiatives became more complicated to administer, many doctors and providers began to drop from managed care networks in favor of more lucrative payer models, but this created even more reimbursement complexities and confusion. 

Read More

Topics: price transparency, Patient Payments, out of network, Patient Satisfaction, Revenue Cycle Management

Cultivating Your Online Reputation to Boost Patient Retention

Posted by Allyson Howard on May 31, 2018 1:19:52 PM

I live in the Chicago suburbs, and during this time of year, everyone is outside working on their lawns. Right now, my lawn looks beautiful—lush and green, free of weeds and carefully mowed in attractive lines. Call me lawn-obsessed, but when I see a dandelion appear in the middle of my pristine lawn, I’m out there with a trowel ready to dig it up. As the summer gets hotter, our lawn must be watered as much as possible within the limits established by our town, so it doesn’t become a yellow, brittle mess.

Just like a suburban lawn, the online reputation of small businesses, including medical providers, must be judiciously maintained. Bad reviews can be like those pesky dandelions—no matter how pretty the rest of the lawn is, just a few of them can be what visitors to your home see first.

Read More

Topics: Patient Retention, Patient Perspective, Patient Satisfaction, price transparency