Mar 7, 2017 9:17:00 AM
Topics: healthcare payments, Patient Balances, medical practice management, Patient Payment Solutions, Patient Collections, Medical Billing Solutions, Patient Payment Policies, Patient Collections Culture, Patient Collections for Hospitals, Medical Office Administration, practice management, Medical Billing, Medical Billers
Feb 7, 2017 8:17:00 AM
Given a choice between extracting my own wisdom teeth without anesthesia and having the job of collecting healthcare balances – I might just go for DIY dentistry. At least the pain of extracting my own teeth would eventually subside. The pain of collecting patient balances seems to never go away. Just the chore of getting someone to answer his or her phone is an excruciatingly painful exercise.
Apr 12, 2016 12:06:33 PM
Medical Billers looking for a way to simplify patient payments while improving communications and cutting tasks for themselves and their practices now have a solution.
Topics: Patient Balances, medical practice management, Patient Relations, Patient Engagement, Patient Collections, Medical Billing Solutions, Patient Payments, Patient Collections for Hospitals, Patient Payment Technology, Tactical Tuesday Video Series, Medical Office Administration, Medical Billing, Medical Billers
Nov 19, 2015 7:55:25 AM
With bad debt and increased patient payment responsibilities in the healthcare industry, hospitals are feeling the pressure of increased patient receivables. To face this problem head on, financial leaders are looking to become more aggressive in their point of service collection programs. And it’s no wonder why: the average American has $1,766 in medical debt. Point of service payment increases your cash flow and eliminates tedious and costly work that plagues hospital billing departments.
Apr 21, 2015 10:00:00 AM
CFO's of hospitals of every size have to contend with the ever changing landscape of technology. Where the business of managing a successful, cutting-edge facility is concerned, being behind the times in data and record keeping can negatively impact the bottom line, often pushing facilities to the brink of insolvency.
It becomes a constant question and struggle - what programs and protocols need to be implemented? What is the ROI? How long will these processes be adequate before adapting even more new technology?
The bottom line is that incorporating new programs to streamline patient information and payment processes will increase revenue. For struggling hospitals, there is no question that an investment in RCM technology is the key to patient payment solutions.
Apr 14, 2015 10:00:00 AM
In the past year, new regulations were introduced that work in favor of the patient when it comes to paying up on outstanding hospital bills. About 60% of the nation's hospitals were affected by the new rules introduced by the IRS that impose clearer guidelines around hospital billing and collections efforts for hospitals that want to maintain their tax-exempt status.
Section 501(r) is a lesson not only for nonprofit hospitals, but for all hospital organizations that are making outrageous and aggressive collection actions. These tactics are not sustainable; and in order to create sustainable patient payments, a patient-friendly payment plan must be implemented.