Health iPASS Revenue Cycle Insights

Through Matter, Health iPASS Spreading Vision About Revenue Cycle Management

Posted by Kenny Levine on Dec 10, 2018 7:22:50 AM

Relationships are important in any place of business. While we here at Health iPASS continue to form good working relationships with many medical practices around the country to help optimize their revenue cycle management and collect more patient payments, one of our most important relationships is not with a client at all. Health iPASS is a member of Matter, a healthcare incubator located in the Merchandise Mart in downtown Chicago.

What is Matter?

Matter is a Chicago-based healthcare incubator that assembles the brightest minds in health IT across the world working in every sector of healthcare: digital health, biotechnology, diagnostics and therapeutics. According to its website, in order to become a member of Matter, a company must be attempting to solve a meaningful healthcare problem, have the right entrepreneur or team in place to be successful, and have a compelling business strategy that Matter can help accelerate. Over 300 healthcare companies, including Health iPASS, have met these criteria and are now members.

There are several advantages that come with a Matter membership. Matter provides companies with a network that connects entrepreneurs with active investors and decision-makers from all different areas of healthcare. Getting feedback early on can often make or break startups, so Matter has mentorship programs for entrepreneurs, connecting them with some of the experts in the healthcare industry. Several Health iPASS staff members participate in the mentoring program to help others understand the most important aspects of working in the healthcare revenue cycle management ecosystem.

Additionally, Matter provides educational workshops as well as a host of seminars and events throughout the year. Our Venture Acceleration program helps startups build financial models, speed product development and raise capital. They also do not take equity in any of the startups they support. This allows Matter to provide companies with a neutral, unbiased approach toward improving our community members.

Chicago as a healthcare leader

We became a Matter member because we want to be a part of the vast Chicago health IT landscape. As experts in helping medical practices redefine patient revenue cycle management , we knew that our membership would positively contribute to our evolution as a market leader. In September 2017, the Health Care Council of Chicago (HC3) reported that healthcare comprises $69.7 billion, or 12.2 percent of Chicago’s economic production, making Chicago a major hub for the healthcare industry. Chicago also has a plethora of resources and incubators, like Matter, that help entrepreneurs gain capital and promote their brand.

Perks of Health iPASS being a Matter member

Being a Matter member has enabled us to exchange ideas and secure unbiased opinions and advice on our mission, what we do, and how we can improve upon what we have already built. Additionally, We have become more involved in collaborating with many of the healthcare leaders at Matter. We have become more active and engaging participants in the group, sharing our own wisdom and knowledge on revenue cycle management with the Matter community.

The collaborative environment has been beneficial for all involved. It has given us the ability to share ideas freely and easily, while also knowing that we are getting fair and honest feedback from some of the area’s premier healthcare professionals.

Chicago is a major healthcare hub and we are taking advantage of resources like Matter in order to leverage the knowledge and expertise of a diverse community. By seeking assistance and collaborating with some of the brightest minds in healthcare through our membership with Matter, we have been able to share our vision with several healthcare individuals and increase our footprint in the Chicago healthcare market and beyond. Matter might not be a big-name client, but through our membership, we are continuing to see how we can improve and refine our patient revenue cycle management solution as the market evolves.

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Topics: Partnerships, Revenue Cycle Management, thought leadership, Matter

Webinar Today! Accelerating Patient Revenue Performance Through Automation with Special Guest Kate Cullip from Colorado Allergy & Asthma Centers

Posted by Allyson Howard on Sep 27, 2018 8:40:36 AM

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.

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Topics: Webinars, patient revenue cycle, revenue cycle, Revenue Cycle Management, Colorado Allergy & Asthma Centers, Patient Payments

Patient Revenue Cycle Crystal Ball with Rajesh Voddiraju: AI and Machine Learning Are Shaping the Future of Healthcare Finance

Posted by Paul Prikasky on Aug 24, 2018 9:51:59 AM

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.

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Topics: Artificial Intelligence, AI, machine learning, patient revenue cycle, Revenue Cycle Management, revenue cycle, revenue cycle predictions

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.

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

Patient Revenue Cycle Solutions on the Horizon at the 2018 Indiana MGMA Conference

Posted by Greg Rakas on Jul 17, 2018 1:42:42 PM

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!

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Topics: patient revenue cycle, Conference Announcements & Recaps, The HealthiPASS Solution, Revenue Cycle Management

Finding Your Patient Revenue Cycle Oasis: Optimizing Dermatology Payment Models

Posted by Corbin Blakey on Jun 20, 2018 1:23:50 PM

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.

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Topics: Dermatology, Patient Payments, Revenue Cycle Management, POS Technology

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. 

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

Transforming Your Practice with Patient Revenue Cycle Technology

Posted by John Trader on Jun 4, 2018 12:05:07 PM

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.

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Topics: Conference Announcements & Recaps, The HealthiPASS Solution, Patient Payments, Revenue Cycle Management

Join Us at C-Bones 2018 for a Weekend of Patient Revenue Cycle Management Discovery!

Posted by Mark McGregor on May 25, 2018 5:00:00 AM

Motivational Speaker and Writer (3)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!

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Topics: Revenue Cycle Management, Healthcare Technology, Conference Announcements & Recaps

Visit Us in Booth #9 at the Utah MGMA Conference and Learn How to Promote Price Transparency and Improve Patient Net Collection Rates

Posted by Mark McGregor on May 15, 2018 6:00:00 PM

A December 2018 report released by Price Waterhouse Cooper’s (PwC) Health Research Institute forecasted price transparency as one of the top 12 driving forces in healthcare in the coming year, and this prediction has proven to be quite accurate. While transparency in prescription drug costs appears to be on the horizon at the federal level, more and more states are enacting price transparency legislation for general healthcare and care-related procedures.

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

Topics: Financial Transparency, The HealthiPASS Solution, Patient Consumerism, Patient Check-in, Revenue Cycle Management

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