Sixty-two percent of patients said they normally paid their monthly household bills online, such as utility or cable bills.
Seventy-two percent of patients said they would be interested in paying their healthcare bills online.
- Trends in Healthcare Payments Annual Report: 2012
As consumers, patients expect to pay healthcare bills when and how they chose, as they do for their other bills, but these expectations are widely unmet in the healthcare industry.
To meet these payment expectations, providers can easily connect to…
In 2014, all payers will be federally mandated to support electronic funds transfer (EFT) and electronic remittance advice (ERA) in accordance with the requirements specified in the CAQH CORE Operating Rules. Providers may be wondering how this mandate will affect payer payments and what you must do to be compliant.
Under the mandate, providers have no obligation to accept ERA/EFT from payers. However, the mandate enables providers to improve efficiency and reduce administrative costs. Read on to learn more about how…
In today’s shifting healthcare payments market, providers of all sizes – from large medical system to solo-physician practices – are searching for ways to reduce costs and collect more patient payments. Many sources are searching for solutions to help providers, such as improving efficiency and empowering employees.
What about empowering employees through improving efficiency? In this post, read how three providers cleared out the clutter in the administrative workflow and gave their staff the tools to do their jobs more easily…
Unpaid patient payments are cutting revenue for hospitals across the country, as shown in this recent article about a large hospital chain with lower-than-expected earnings. According to the Trends in Healthcare Payments Annual Report: 2012, the rapid growth of patient responsibility is creating a need for improved patient collection processes for hospitals.
Aspen Valley Hospital, based in Colorado, also saw the need to improve collection processes. Its staff often missed the opportunity during patient visits to collect payments, instead putting the…
With the increase in consumer-directed healthcare, patient payments are becoming a more important part of healthcare provider revenue. However, as consumers, patients are accustomed to having a clear understanding of the amount owed prior to making a purchase. Too often in the healthcare industry, patients are clueless about their payment responsibility until they receive a statement. And when patients are confused or uninformed, they are less likely to pay.
Faced with the challenge of collecting more patient payments, Canopy Partners, a…
Growing need for interoperability
Healthcare reform is driving a greater need for efficiency, resulting in the formation of Accountable Care Organizations (ACOs) and provider consolidation. As provider organizations using different systems work together, there is a much greater need to integrate heterogeneous environments to achieve system interoperability. However, healthcare information is often not easily exchanged among providers because of paper-based processes or systems that are not compatible. In fact, 71% of providers surveyed said the lack of system interoperability is a…