Revenue Cycle Management
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04:48 pm |
May 09, 2019
|
04:48 pm |
May 09, 2019
VisitPay VP Will Reilly says because patients are taking on more healthcare costs, revenue cycle teams must figure out how to engage them and work more closely with marketing.
Operations continue, wages are unaffected and none of the health system's three hospitals or other care centers will close, Astria says.
Hackensack Meridian Health no longer writes off long-term payments as bad debt, now that the patient has become a primary payer.
Investing in research and development can propel health systems taking financial risk into the front lines of innovation.
In an age of squeezed operating margins, consumerism must be combined with what works to get paid faster and to collect all that is owed.
The 'accelerating challenge around patient needs' calls for new technology and automation, but on a personal level.
Increasingly, revenue cycle health now requires meeting patients halfway or more, with convenience and access at the center.
The Primary Care First payment model will provide payment to practices through a simplified total monthly payment to allow clinicians to focus on caring for patients rather than their revenue cycle, CMS says.
Reasons for the jump include implementation of the ICD-10 coding system, increasing healthcare costs and EHRs.
The InstaMed blockchain prototype creates a shared patient account ledger accessible by the provider, payer and consumer.