It is hard to ignore the increase in Accountable Care Organizations' (ACOs) popularity in urban America, but how do ACOs fit in rural America?Read More
The need for speed of money has taken over!
Instead of having to go to the bank and talk to a teller, you can now access your money anywhere with an internet connection or telephone. It now can take only mere seconds to wire money transfers and make payments instantly using an online portal or mobile application.Read More
Some organizations measure the value of a self-pay department exclusively on its ability to collect cash. Cash collection is an important aspect of this department but fails to recognize the importance the of the self pay team in providing exceptional patient experiences. To adequately measure your self pay department you should be looking at a variety of Key Performance Indicators (KPIs) on a regular basis. These KPIs should have a balanced focus that includes measurement of staff performance, utilization of technology and patient experience. Within your self pay department there are several simple KPIs with easy-to-monitor best practice metrics.Read More
The upcoming tax refund season is an ideal time to implement some strategies to increase collections. As patients get their tax return refunds they are presented with an opportunity to review their current financial situation. Historically, almost 50% of Americans pay down debt with their tax return refund. In many cases medical expenses are not at the top of their list because other debtors charge higher interest rates or offer settlements for payments in full. Now is a perfect time to give patients a compelling reason to pay their medical bill.Read More
Do you spend sleepless nights thinking about how to maximize throughput within your revenue cycle functions? Throughputs can include increasing cash, decreasing days in revenue outstanding, improving customer satisfaction or maintaining compliance standards and the available strategies are often complicated by external factors such as: consumerism, newly insured patients, increases in patient liability, sophisticated payer edits, denials for payment and staff turnover.Read More