Billing and Collections
Also, seven new insurers join America's Health Insurance Plans including Bright Health; CareFirst BlueCross BlueShield.
As of Jan. 1, in the name of transparency, the Trump administration required that all hospitals post their list prices online.
Sixty-three percent of providers already accept web portal payments and over a quarter now offer text-based payment options.
Seventy-two percent of respondents cited reimbursements and payments as the biggest challenge for healthcare service company management teams.
Patients all too often read unreliable sources of medical information and assume the worst-case scenario.
Case study: Revised paper statements and new digital patient portal drove a 38% improvement in self-pay collections, a 21% reduction in cost-per-dollar collected and patient satisfaction rose from 28% to more than 50%.
Healthcare currently ranks below the computing and electronics industry worldwide, but that's likely to change over the next couple of years.
Most providers are tracking patient leakage in-house through their EHRs, but many aren't fully satisfied with the results.
There is growing concern about how much value the rule really provides for patients and the potential perception problem it creates for hospitals.
Some providers see nine percent of their claims denied, and with each costing as much as $118, better processes can help realize cost savings.