Category: Healthcare
How to shore up your past-due recovery practices
It’s always a best practice for a clinic to have policies and procedures for their accounts receivables. To make sure yours line up with current rules, laws, and regulations, it’s smart to consult with a professional for collection advice. Here are some basics: Phone calls Picking up the phone and calling the past-due patient early on can
Give your patient financial policy a checkup for the New Year
A good financial policy serves two purposes: It reduces exposures to your office but it should also eliminate surprise to your patients. With the new year, this is an opportune time to pull out this guiding document and give it a checkup to make sure it follows best practices. Is it easy to understand? First, look at the
Incentives could result in lower healthcare costs
Patients’ out-of-pocket costs are rising, putting even more pressure on the healthcare system — not to mention a clinic’s ability to make ends meet. One solution that’s gaining traction is changing reimbursement practices with an eye toward outcomes that experts say will save money and result in healthier patients in the long run. Value-based care: Medicare is
About replacing your revenue management system…
As cash flow emerges as a top administrative concern in healthcare, one solution remains clear: upgrading the revenue cycle management system. In fact, according a recent survey, 85 percent of healthcare organizations say they want to upgrade. Change overwhelms an old system The reasons behind the desire to upgrade are clear. First, they are working with a
Fixing Your Patient Self Pay Process with Collections
There’s a lot of discussion and commentary out there about this issue, but everyone seems to agree: due to high-deductible health insurance plans, and a general failure to effectively address the flaws in the patient self-pay process, the bad debt problem is only going to get worse for many healthcare providers. Mike Trilli, the senior
Offer discounts to insured patients for upfront cash payments
We have a healthcare collection tip for you. But there’s something to consider first. What was once a longtime truth about medical billing is now turned upside-down. For years, uninsured patients were charged more for their care than insured patients. Today, patients are finding they can uncover deep discounts if they pay for their care
Boost revenue with 5 healthcare billing system updates
Chances are, your practice is not getting as much money from insurance companies as in previous years—even if it’s true that more patients than ever are covered by insurance, and the majority of your revenue probably still comes from insurance companies. But today’s patients are paying much higher deductibles than even five years ago. For
Overcoming patient billing complaints: A case for outsourcing
Medical billing is one specialty that has seen a major shift over the past six years. One driving trend is the Affordable Healthcare Act (ACA) and the 20 million Americans who have gained health insurance since 2010, according to the U.S. Department of Health and Human Service. In some cases, these individuals are learning the ropes about health insurance, such
The future of medical billing: A case for digital tools
Take a peek at the hospital of the future. Monitors outside patient rooms give all the pertinent data at a glance. Caregivers use devices for scanning, photos and record keeping. Location devices maintain staff efficiency, while also keeping family members updated on the whereabouts and care of loved ones. This is the vision and goal
Surprise medical bills put patients, hospitals in a pinch
Let’s say a patient visits a hospital or a large clinic, which he had chosen because it was listed in the network provided by the insurance company. Later, the patient gets a nasty surprise in the mail: a larger-than-expected bill for their care. It could be a few hundred dollars higher, or several thousand. In
