HFMA joined with ACA International to develop a task force to establish comprehensive guidelines for the fair resolution of patient medical debt. The report they developed, released last week, touches on best practices for each step of the patient journey,…
Read More HFMA’s New Recommended Consent Language for Patient Communications
As the number of COVID-19 cases peaks across the country, many states are moving forward with plans to reopen in an attempt to stabilize local economies. Though the move is encouraged by the administration, health experts warn that diminishing social…
Read More Open or Closed, Health Systems Need Support in the Covid-19 Economy
Professional Credit’s president, G. Scott Purcell, delivered an insightful presentation on self-pay collections and the challenges presented in a post-Covid economy at the recent HFMA Region 10 Revenue Cycle Roundup virtual event. Among the many strategies he offered for overcoming…
Read More Working Backwards: How Starting With the End in Mind Can Boost Self-Pay Collections
Seeking medical treatment can be a stressful event. With health concerns at the forefront of their minds, patients can often move the financial considerations for care to the back. This can impact a patient negatively in a variety of ways;…
Read More 5 Ways to Empower Patients to Take Charge of Their Financial Health
Today’s patient has become a healthcare consumer. Rising out of pocket costs, premiums, and deductibles drive patient communities to shop around for the best value for treatment. This makes reputation and patient loyalty increasingly important if a healthcare organization is…
Read More Creating Transparency throughout the Patient Journey
Last year hospital revenue from patient responsibility showed an 88% increase over the previous five years illustrating a growth trend for patient out-of-pocket costs. Couple this with the fact that premium costs have seen a steady increase of at least 5% annually for the…
Read More Minimizing Obstacles to Care While Retaining Critical Revenue
The patient experience extends beyond discharge. In fact, studies have shown that patient satisfaction can drop up to 30% during the billing process. Considering the impact of the patient experience on patient loyalty, the financial experience is increasingly important. Today we identify…
Read More 6 Elements of a Positive Patient Financial Experience
Between the rise in patient financial responsibility and a growing millennial demographic, patients are expecting more from their providers: seeking out value, care alternatives, and self-service tools. This pivot in patient behavior has forced a shift in the way healthcare…
The modern patient wants modern tools. Recent research indicates the push for digital engagement technology has risen to the top of patient demands. Today we are going to present some of the most stunning statistics that illustrate just how important…
Read More Statistics Show Patient Push for Digital Engagement
The patient experience is essential to the success of healthcare organizations. It affects reputation, patient loyalty, and even propensity to pay. Maintaining a healthy revenue cycle means providing quality services to patients. In today’s post, we are going to identify…
Read More 10 Keys to a Superior Patient Financial Experience
