Hospitals & health systems are under constant pressure to grow revenue. Learn how negotiating better terms with payers helps cut losses & boosts the bottom line
A recent increase in patient responsibility, due to high deductible health plans, increasing premiums, and growing coinsurance, to name a few reasons, often leaves patients with out-of-pocket costs that result in late payments and medical debt. For providers, collecting from patients with unpaid balances or from those who are truly self-pay is not only costly, but can add friction to the patient/provider relationship. Take a best practices approach to managing patient financial responsibility from up-front collection to finding hidden coverage. View the infographic to learn more!
High deductible health plans continue to impact both patients and providers’ financial welfare. As the tide continues, increasing pressures from bad debt, challenging collections and wage to income disparity with continue to grow. Click here to download your copy of the infographic.
Denial management in healthcare continues to be a challenge for providers—in part because the traditional way of working denials is time-consuming, costly, and prone to error. ICD-10 sparked additional denial management-related worries in October of 2015, based on projections that denial rates might increase 100%-200%. Ultimately that didn’t occur (though the CMS grace period may have been an influencing factor)—but nonetheless, denials continue to eat up as much as 3-5% of provider revenue, and according to some projections denial rates for providers trend as high as 20%.
EOB Conversion with Payer Lockbox is the first service to fully automate this previously tedious and error-prone process. From opening the mail to posting and reconciling payments, EOB Conversion with Payer Lockbox saves you time and money.
What’s driving the increase in HDHPs, and how can providers adapt to the change? This infographic includes the facts and a few best practices to help you manage the new realities of high deductibles.
By now you’ve heard that the ICD-10 go-live date will be in October. But that doesn’t mean you should stop preparing. No matter where you are in the process, we know there’s a lot to keep track of, so we created this checklist to help you monitor your progress as you transition to ICD-10.