In healthcare, as it is in many industries, cash is king. All healthcare systems have financial teams to dive deep into performance throughout the year, but on a regular basis many hospitals and practices assess the health of the revenue on cash flow alone. However, even at face value accounts receivable is only one metric to monitor.
Topics: healthcare revenue cycle management, medical accounts receivable, healthcare KPIs, healthcare data analytics, process improvement, 5 Metrics, benchmarking
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
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
