Be a Better Communicator: How to Set Patient Expectations and Get Paid

The healthcare landscape is changing as patient responsibility continues to increase and providers are relying on patients – rather than only payers – for more of their revenue than ever before. Yet, the healthcare payments experience has been slow to change in response. Patients are frustrated with the confusing and inconvenient payments experiences offered to them by their healthcare providers. Providers need to evaluate their billing and payments processes and consider implementing changes that will improve the way they engage

Tagged Consumer Experience, healthcare payments, payment assurance

The Power of Payment Automation – A Customer Success Story

Increasing patient responsibility is becoming more prominent in healthcare than ever before. More patients are enrolling in high deductible health plans (HDHPs), which require patients to pay a minimum deductible amount before their health plans cover any portion of the cost. In 2010, 10 million consumers were enrolled in HDHPs. Less than a decade later, 75 million consumers are enrolled in HDHPs, a more than seven-fold increase.

The trend of increasing patient responsibility requires providers to rely on patients for a

Tagged Automatic Payment Collection, healthcare payments, InstaMed Auto Payment Collect, payment assurance

The Payment Experience Patients Want

Less than a decade ago, there was no need for provider-patient interaction to extend beyond the patient visit. Today, patients play a critical role in the payments process, and providers must expand their relationship with their patients to include payments. Likewise, patients have a greater interest in their healthcare payments experience and expect the same kind of convenience and simplicity in paying their bills in healthcare as they have in other industries. This healthcare payments process presents new challenges and

Tagged Consumerism, healthcare payment experience, healthcare payments, increase collections, increase patient satisfaction, patient payments, patient responsibility, payment assurance

Communication: The Key to Collecting More

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

Tagged Affordable Care Act, Best Practice, Consumerism, Eligibility, healthcare payments, increase collections, patient estimation, patient payments, patient responsibility, payment assurance

3 Essentials to Collecting More Payments

The increase in self-pay patients and rising operational costs are driving healthcare providers to seek out tools and strategies to operate more efficiently and collect more from patients. Depending on your current processes to collect, there are various changes you can make that can have a significant impact on the amount collected and the time and costs spent to collect. Below are three common process issues that billing service Medical Management Corporation of America (MMCOA) faced with its providers, and

Tagged Administrative Costs, Best Practice, Consumerism, healthcare payments, increase collections, integrated healthcare payments, patient bad debt, patient payments, patient responsibility, payment assurance, payment card, payment strategies, providers

6 Best Practices for Patient Payment Plans

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As healthcare providers rely more on patients for revenue, many have started to use more consumer-centric strategies, like payment plans that enable patients to pay balances off over time. Improve processes for your organization and patients by adopting best practices and policies.

A Growing Demand for Payment Plans in Healthcare

The rise in high-deductible health plans and growing out-of-pocket costs is forcing consumers to bear greater

Tagged Best Practice, healthcare payments, increase collections, patient bad debt, patient payments, patient responsibility, payment assurance, payment card, payment strategies, PCI-DSS, trends in healthcare payments

How to Keep Your Provider Network Happy

For a healthcare payer’s provider network, the process to get paid has always been a challenge. The steps providers take each day, from verifying eligibility and submitting claims, to receiving and reconciling payments, are filled with manual work, paper, errors and delays. As a result, the fragmented, time-consuming and often stressful process to collect payments is adding a lot of cost pressure on providers.

New healthcare reform mandates also put pressure on providers to find ways to get paid more efficiently.

Tagged Administrative Costs, Affordable Care Act, Best Practice, Eligibility, ERA/EFT, healthcare payments, healthcare reform, increase collections, patient estimation, payer-to-provider payments, payers, payment assurance, payment strategies, private cloud, providers, reconciliation, remittance

Top 3 Misconceptions of Collecting from Patients

Many healthcare providers are concerned about the impact to their businesses that will result under PPACA. Much of this concern is due to the additional 20 to 30 million uninsured Americans that will begin to receive new healthcare coverage in 2014. With more patients eligible to receive healthcare services, and hundreds of millions of patient payments transactions being added to the U.S. healthcare system, the difficulties providers face with patient collections is becoming a high priority issue.

Shifting the focus to

Tagged Administrative Costs, Affordable Care Act, Best Practice, Compliance, Consumerism, Eligibility, healthcare payments, healthcare reform, increase collections, patient bad debt, patient estimation, patient payments, patient responsibility, payment, payment assurance, payment card, payment strategies, PCI-DSS, providers

5 Reasons to Accept Online Patient Payments

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The rise of consumerism in healthcare is driving providers to evaluate how they approach healthcare payments. To collect more from patients and reduce administrative costs, providers need to offer more convenient, consumer-friendly options, such as online patient payments.

In today’s world consumers want ease and convenience in many aspects of their lives, including being able to pay their bills online. As more people turn to

Tagged Administrative Costs, Consumerism, healthcare payments, increase collections, online payments, patient bad debt, patient payments, patient responsibility, payment, payment assurance, practice management system, providers, reconciliation

8 Things ACOs Need to Know About Healthcare Payments

What Is an ACO?

An ACO (accountable care organization) is a healthcare organization made up of providers and payers who come together to give coordinated, patient-centered care. In the public sector, ACOs earn incentives for delivering high-quality care and reducing healthcare costs for Medicare and Medicaid patients. In the private sector, ACOs focus on achieving a high level of wellness and satisfaction for all patients.

What You Should Know About ACO Payments:

1. Increase focus on collecting from patients. As providers work to

Tagged ACO, EHNAC, ERA/EFT, healthcare payments, HIPAA, integrated healthcare payments, patient responsibility, payer-to-provider payments, payers, payment assurance, PCI-DSS, private cloud, providers, reconciliation, remittance

Blog Post Topic: payment assurance