Category: Healthcare
Price transparency: Will it boost your revenues?
Physicians and other healthcare providers want the same thing for their patients: better outcomes and a higher quality of life. To many patients, cost is a barrier to accessing that quality care. And when they do seek it, high bills can undermine their trust in their physician. In 2008, an extensive survey by the NIH showed that
Is your practice preparing for value-based healthcare?
Value-based healthcare seems to be in a holding pattern, thanks to shifts in healthcare policy in Washington. At the same time, many physicians and healthcare executives expect this idea to one day become reality. Even if the change is slow. Some 82 percent of 450 physicians and health plan executives surveyed expect the transition to value-based
Does your practice have the right procedures for patient billing disputes?
Over the past decade, you may have noticed your patients are becoming much more aware and savvy when it comes to this aspect of their healthcare: what it says on the bill. More Americans do have health insurance, but they are also responsible for paying deductibles that can add up to several thousand dollars a year. That
When is it time to write off patient balances?
Has a bill ever arrived in your mailbox with a balance so small, it was laughable? There are myriad reasons behind the balances on the books, which is why well-managed practices establish a hierarchy and create procedures. It’s important to bring clarity to which past-due accounts need pursuing, and when you should write off patient balances. Moreover,
Hospitals: Why an ethical collection partner matters
A stay at the hospital is a major event for a patient across many areas of their lives. As costs to provide care continue to rise, along with insurance premiums and deductibles, hospitals will have to face the new realities that a higher percentage of their patients are financially exposed. While hospitals offer charity care for patients
Add friendliness and efficiency to your healthcare billing strategy
As a healthcare provider, you want to keep everyone’s focus on what matters most: restoring health and helping patients have their best possible lives. When bills become past due, it’s a tricky balance between using your time well and staying sensitive to the pressures in your patient’s life, without destroying your cash flow or your reputation in the
A Practice Checklist to Help You Prepare for 2018
Each day, your practice is there to help patients take stock of their health and create a plan to get healthier. But how often do you step back and give your practice a good checkup? The end of the year is a natural time to look back on the past 12 months and take stock. Don’t
Track your healthcare accounts receivable days
Those in the healthcare field know very well how numbers serve as key indicators of a patient’s health. When one of the key measurements is out of whack, it’s not proof of an underlying cause, but it’s a starting point in finding the root of illness and disease. The same is true for your practice’s financials. Having
A patient has filed for bankruptcy. Do you know what to do?
Patient bankruptcies in the healthcare industry, as a whole, are on a downward trend. In 2016, the rate had fallen by half compared to those filed just six years before. Still, it’s important for any practice or clinic to take time to consider the legal and ethical implications that come with working with a patient who has filed. Now’s the
Good billing practices are one way to preserve patient trust
The patient-physician relationship is built on trust. Even if all the treatment protocols are followed and the patient makes a complete recovery, things like rudeness from staff and a bad bedside manner can quickly undermine what was built. Billing and payment is one overlooked area that can seriously undermine the patient-physician relationship. When a patient falls behind
