According to AHIP, nearly 17.4 million were enrolled in high deductible health plans (HDHP) as of January 2014. That’s an increase of nearly 12 percent since 2013. Due to this growth in HDHP enrollment, patients are responsible for more of their healthcare costs and often owe a payment to their providers.… Read more
The healthcare payments industry is growing at a rapid pace as changes due to reform and consumerism continue to reshape the industry – impacting the way many providers reach their patients.
Online payments have become the norm for many industries, including the healthcare industry. Many providers, from solo-doctor practices to large health systems, are leveraging online payments to offer their patients a new way to pay their healthcare bills. Yet, simply offering the option to pay online may not be enough to actually connect with patients.… Read more
Do you have patients who wish to opt out of using their insurance for payment? The Affordable Care Act allows a patient to make the choice between having you file with their insurance or paying their balance themselves without filing.
In every healthcare organization, there’s a segment of past due patients who have the means to pay their outstanding balance. They just haven’t been motivated to take action.
How can you do a better job of collecting from those patients?
The Becker’s Hospital Review Annual Meeting in Chicago this last May included a discussion on commonly overlooked revenue sources in healthcare. And while this was a meeting focused mostly on large enterprise healthcare organizations, many of the discussion points should resonate with health systems and practices of all sizes.
Becker’s Hospital Review posted a quick recap of the session with this interesting quote from Vince Pryor, CFO of Edward Hospital:
“I don’t think you can go into a revenue cycle and not find at least 1 or 2 percent,” said Pryor.… Read more
For our blog readers who are football fans, we’ve come to one of the greatest times of the year – the push toward the playoffs. Or if you’re a college football fan, the push toward the bowl season.
Either way, there’s a lot at stake for the teams in championship contention over the next several weeks.… Read more
According to a recent TeleVox survey gauging whether past due accounts are perceived to be a “problem” for dentists, 44% confirmed this notion.
And it’s because there is so much revenue at stake. 76% of practices have average outstanding balances of over $100. 10% of respondents report more than $500 as their average outstanding balance.… Read more
Why all caps for the word “COPE”? Well, it’s an acronym for four best practices in how you can drive payments from your past due patients without risking the long-term relationships you’ve worked so hard to build.
Are you putting any or all of these concepts to work for your practice?… Read more
NOTE: The following is an excerpt from TeleVox’s Healthy World report, “Technology Beyond the Exam Room”, which illustrates that as digital technology becomes increasingly ubiquitous in American culture, a higher prevalence of its usage should be expected within our healthcare system. Download it HERE!
With a groan and a slap of her palm atop a screeching alarm clock at 6:00 a.m.… Read more