Category: Healthcare
IC System Attends AAHAMâs Legislative Day
Healthcare is a major issue throughout the country right now, and the 2017 Legislative Day held May 1-2 on Capitol Hill provided a forum to discuss some of the prevalent issues. IC System experts in the healthcare industry, Paul Fitzpatrick and Mary Prendergast, attended the event held at the Hyatt Regency Washington and hosted by
Use accounts receivable days as a measuring stick
Thereâs no greater asset to a business than accounts receivable days. Consider the dense weave of financial sources, from insurance payers to the federal government to individual patients. This is an asset that needs careful management or its value starts escaping, like the leak of a punctured balloon. For that reason, providers are drilling down
Don’t shy away from asking for payment at the appointment
In the past, weâve discussed the many benefits of getting your front desk staff into the habit of requesting upfront payments from patients. Taking this head-on rather than relying on a passive billing system can boost your revenues, and give patients the opportunity to address problems early. How do you put this into practice? One
Insurance paying too little? Don’t accept it. Negotiate!
Getting the insurance company to come to the table and actually negotiate provider reimbursement rates can feel like attempting to scale a 30-foot cement wall without equipment. This is especially true when the payer just tosses over a slate of rates that undercuts the value of your work. But it turns out if you accept the
Insurance debate: Patient anxiety over high medical costs
Politics aside, one fact that stands out through the ongoing debate on how we regulate health insurance is this: Patients are deeply concerned about the costs of their medical care. A recently released study highlights these anxieties and how U.S. patients are dealing with them. Seventy-four percent say their health care costs have risen over the past
Is it time to rethink the annual checkup?
The idea of the annual exam is well-woven in the fabric of our medical care. Whether the patient is covered by traditional insurance or a government plan, they’re entitled to at least one examination a year, complete with a battery of lab tests and screenings. However, it may be time to modernize this practice of the yearly
Is your practice meeting your patients’ digital expectations?
We donât always think of patients as consumers. But itâs important to consider how your patientsâ experiences as a customer influences their expectations when they contact providers. One of these experiences you might want to strongly consider is digitizing appointments. Aligning with patient expectations Consider whatâs happened over the last decade. Buying and banking habits
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
Patientsâ out-of-pocket costs are rising, putting even more pressure on the healthcare system â 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
