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
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.
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
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.