As out of pocket costs increase and deductibles rise, healthcare organizations of all sizes and specialties are seeing an increase in high-balance accounts. Without much assistance from insurance patients are looking for new and better payment options. Payment plans can be a valuable option for both the patient and the provider when administered properly. So why aren’t they working for you?
Topics: healthcare revenue cycle management, medical accounts receivable, payment arrangements, healthcare business process outsourcing
We are proud to welcome you to the future of healthcare revenue cycle management – welcome to Meduit! Please allow us to introduce ourselves and share a little bit about what you will find here on the Innovation Lab Blog. Then we want to hear all about you.
Reform is rampant in the healthcare industry, from payment models to data security it seems there is always a new overhaul underway. But unlike many trends, patient engagement has remained a hot topic for many years. It is no secret that providing a great patient experience can improve your bottom line, so what is different about this trend that has kept it in the spotlight?
Topics: healthcare revenue cycle management, patient engagement
In healthcare, as it is in many industries, cash is king. Of course your financial team will deep dive into financial performance throughout the year, but on a regular basis many hospitals and practices assess the health of their revenue cycle based on cash flow alone. However, accounts receivable is only one metric to monitor. Here are five additional simple key metrics that have been identified by the AAFP to measure regularly to ensure the health of your revenue cycle.
Topics: healthcare revenue cycle management, insurance denial management, medical debt collections, healthcare KPIs, healthcare data analytics, process improvement, 5 Metrics, benchmarking
Are there consistent errors within your medical accounts receivable management processes that are restricting your organization’s cash flow? There are a few common problems that plague healthcare providers that can be avoided in a few simple steps.
Topics: healthcare revenue cycle management, extended business office, insurance denial management, medical accounts receivable, medical debt collections
Often references to the healthcare revenue cycle can be vague or over-broad, and as a result this critical element of an organization’s success can be oversimplified or misunderstood.
Topics: healthcare revenue cycle management, FAQ, extended business office, medical debt collections
