Financial leaders across the revenue cycle face mounting concerns around higher levels of denials, greater bad debt on balance sheets, and delayed payments from payers and patients. Here are five articles that we read this week that focus on the challenges hospitals are facing, and how they are tackling reduced reimbursement and working to capture …
As the US healthcare system continues to evolve from a fee-for-service model towards value-based care models, patients and providers are facing new and different challenges in working both with each other, as well as with payers, to secure payment for healthcare. Hospitals in particular are facing greater administrative burdens, including planning and executing modifications to …
Elevated Administrative Burdens in Patient Financial Services & Revenue Cycle Read More »
The theme of this week’s weekend reading is price transparency and the No Surprises Act, a timely theme with the Biden Administration releasing the final surprise billing rules this week. If you have a few hours to spare, here is the link to the full release, at just under 150 pages, fairly digestible for a …
As the number of high-deductible health plans increases, alongside the deductibles themselves growing, co-insurance ratios and the cost of care escalates, co-payments rise, and care exclusions surge, the resulting environment is one of considerable difficulty for both patients and providers. Patients facing tremendous costs for much needed care are often unable to cope with burgeoning …
Enhancing the Revenue Cycle though Collaboration across the Patient Finance Journey Read More »
This week we’re sharing articles we’ve read this week focused on a concern that has been mentioned more and more over the past year, staffing. With high levels of workforce participation and very little unemployment, the jobs market is highly competitive, and this is being felt throughout the healthcare industry. While hospitals and health systems …
Throughout 2020 and into 2021, the US government provided substantial financial support to hospitals, health systems, and providers in the form of accelerated and advanced payments, provider relief funds, expanded Medicare payments, and paycheck protection, which helped hospitals through the initial shock of the COVID-19 pandemic. In some cases, commercial payers also helped to support …
Sharing articles we’ve read this week focused on patient access, improving payments and financial experiences, an article highlighting a unique virtual reality dog visiting waiting rooms at UCHealth, and one long read for those looking to add something to their bookshelf. Have a great weekend! In an increasingly consumer-oriented healthcare environment, open communication, empathy and …
The combination of increased premiums, higher deductibles, and larger coinsurance payments have many patients and families struggling to cover their share of healthcare costs, resulting in difficulty making payments, and in some cases, delays in seeking care. The Kaiser Family Foundation 2021 Employer Health Benefits Survey found that more than 85% of covered workers have …
Patient Financial Services: Challenges & Opportunities in Patient Payments Read More »
The importance of accuracy in patient registration, insurance eligibility verification, and securing of prior authorization cannot be understated in today’s environment of escalating denials and payment delays, with recent surveys including one by Change Healthcare indicating that nearly a quarter of denials stem from errors or inaccuracies in patient registration and eligibility verification. As patients …
Eligibility Verification & Prior Authorization to Reduce Denials & Payment Delays Read More »
Throughout the research and development of the Patient Financial Services meeting being hosted live online this October 11 & 13, we have had the opportunity to speak with executives across the country with decades of experience in patient finance, access, and revenue cycle about the challenges faced in balancing access to care with payment for …
