We hope that you can join us today at 2pm EDT for a special webinar on the value of automating your patient revenue cycle to accelerate positive performance. We are pleased to be co-presenting today with Kate Cullip, Business Office Director at Colorado Allergy & Asthma Centers who has been using the Health iPASS check-in and patient revenue cycle solution since April of 2018.Read More
If you’ve checked out our newly rebranded website, you might have seen the bio of our founder and CEO Rajesh Voddiraju. To quote his site bio, “Rajesh is smart. Really smart. So smart that we now have a jar where we drop $1 every time we learn something new from Rajesh. The jar has to be emptied once a week.” There is no doubt that we here at Health iPASS recognize Rajesh as an amazing source of information and insight about the financial side of the healthcare industry. That’s why we recently asked him to share some of the top ways revenue cycle management will be changing in the coming months. This week, we are focusing on the first of these predictions.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.
Guess what? Lightening does strike twice! After a successful Illinois MGMA conference this past weekend in Naperville, IL, Health iPASS is thundering back again July 19-20 at the Indiana Medical Group Management Association (IMGMA) Annual Meeting at the beautiful French Lick Resort in French Lick, IN. The reserved block of rooms is fully booked, so it appears people are looking forward to attending!Read More
You are a small to mid-sized dermatology practice, just trying to make your way in the world. Lately, you’ve found yourself in the middle of a revenue cycle jungle. The daily frustrations are driving up your emotional temperature and the stress is clinging to you like a wet blanket. You are struggling to work with multiple payers, and the claims denials keep coming at you like mosquitos, sucking the income away from your practice.Read More
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
The theme for this year's 2018 New Jersey Medical Group Management Association (NJMGMA) Practice Management Conference is "Transforming Through Technology" which is quite apt when you consider the industry wide push to adopt and implement new technological tools that create efficiency, improve patient retention, and increase revenue. From new cloud data storage solutions to electronic scheduling to patient portals to tablets in the exam room, new health IT tools are permeating practices seeking ways to cut costs, improve the quality of care, and add to their bottom lines.Read More
State mottos are interesting things. No one spends much time thinking about them unless they are playing the license plate game or working on a 4th grade social studies project. However, as the Health iPASS team heads out to the Golden State for the California Bones (C-Bones) conference next weekend, May 31-June 4, 2018, we think that California’s state motto is particularly apt for the occasion: Eureka! This term was coined by Greek mathematician Archimedes meaning, “I have found it,” and refers to the discovery of gold in California that kicked off the famous Gold Rush. We are confident that you will see that there is so much to find at the C-Bones Conference!Read More
After a damning 2014 report by the Catalyst for Payment Reform and the Health Care Incentives Improvement Institute which gave 43 out of 50 states an “F” on healthcare price transparency, many states are moving to make a change. For example, Colorado’s Transparency in Health Care Prices Act, which went into effect in January of 2018, requires hospitals to post self-pay prices for the 15 most common procedures. As Health iPASS heads to the 2018 Utah MGMA conference, we can’t help but wonder how this recent legislation in Colorado will affect price transparency for its neighbor, Utah.
Adopting a revenue cycle management tool like Health iPASS can help your practice weather the storm as state legislation and consumer demand for healthcare price transparency continue to increase. Come visit Mark McGregor at Booth #9 at the Utah MGMA conference to find out how Health iPASS can help your practice provide greater price transparency while increasing your operating income, lowering collection costs, and boosting patient engagement and satisfaction.
Colorado’s 2018 price transparency legislation is only the beginning of this watershed year for healthcare. At the time of this post, at least 16 other states are working on ways to lower costs and help patients understand their healthcare financial responsibilities. No matter where you look, it appears that there’s a healthcare price transparency storm brewing, and it’s coming your way. It begs the question, where’s your umbrella? Read More
In a world where online bill payment has become the norm, the healthcare industry has woefully lagged behind when it comes to providing convenient and transparent billing and payment methods.Read More