Billing and Collections
Nonprofit insurer is working with two financial-services partners to provide financing guarantees, advance payments and restructuring of contracts.
Since all of the estimates are based on pneumonia, it's likely that costs will be even higher during the coronavirus outbreak.
Under strict proposals, in-network negotiated hospital prices could be cut by 31% to 40%, saving up to $124 billion annually.
Understanding contract loopholes, and being self-advocates during negotiations, can help community hospitals increase their collections.
The average potential surprise bill ranged from $86 for medical imaging specialists to more than $8,000 for surgical assistants.
Rob Lieberthal, principal of health economics at Mitre, says the lack of interoperability and patients not owning their data are among the biggest obstacles to reimbursement.
Most consumers say providers' willingness to share price information prior to service is a critical factor in determining where to seek care.
When physicians bill out of network it means possible unexpected medical bills, undercutting the functioning of healthcare markets.
To capture revenue that would otherwise be lost, providers need to jettison ink and paper in favor more modern solutions.
Younger consumers are especially are willing to switch providers over a bad billing experience.