The InstaMed Healthcare Payments Blog
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… Read More
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… Read MorePosted On: November 15, 2012 | Tags: administrative costs, best practice, case study, consumerism, healthcare payments, increase collections, integrated healthcare payments, patient bad debt, patient payments, patient responsibility, payment assurance, payment card, payment strategies, providers | Leave a Comment
As healthcare providers rely more on patients for revenue, many have started to use more patient-centered strategies, like payment plans, to collect payments. But to ensure you’re improving processes for your organization and for your patients, you need to make sure best practices and policies are in place.
A Growing Trend
Data from the 2011 Trends in… Read More
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… Read MorePosted On: September 4, 2012 | Tags: 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 | Leave a Comment
Following the Supreme Court’s ruling on PPACA, the industry can be certain that regulatory mandates, aligned with PPACA, are coming. One of the most prominent changes the industry should prepare for is that approximately 30 million uninsured Americans will begin to receive healthcare coverage in 2014. This means that more patients will receive healthcare services,… Read MorePosted On: July 13, 2012 | Tags: Affordable Care Act, case study, consumerism, healthcare reform, increase collections, InstaMed Network, integrated healthcare payments, patient bad debt, patient payments, patient responsibility, payment card, practice management system, private cloud, providers, reconciliation, reporting, trends | Leave a Comment
As the rise in healthcare consumerism becomes one of the most influential industry trends, more healthcare providers are accepting payment cards in order to collect more patient payments. However, the prevalence of data breaches in healthcare – many of which involve patient payment card data – also is increasing. The financial and reputational cost… Read More
Traditionally, the end-to-end healthcare payments process – from submitting claims to receiving, posting and reconciling payments – has been disjointed and manual, requiring a great deal of paper and leading to errors and delays in payment. However, as providers continue to feel pressure to reduce costs, leveraging integrated technology to streamline these processes is becoming… Read MorePosted On: June 22, 2012 | Tags: administrative costs, case study, claim status, claims, clearinghouse, EOP, ERA, healthcare payments, increase collections, patient payments, payment card, practice management system, private cloud, reconciliation, reporting | COMMENT (1)
One of the major areas hospitals and health systems in the U.S. will focus on in 2012 is implementing technology and process changes to improve efficiency, increase payments and reduce days in A/R. Here are the changes North Ottawa Community Hospital (NOCH) made to achieve significant business results:
Inefficient card payment … Read MorePosted On: May 3, 2012 | Tags: case study, compliance, consumerism, eCheck, healthcare payments, hospitals, increase collections, InstaMed Network, patient payments, patient responsibility, patient statements, payment, payment card, PCI-DSS, private cloud, reconciliation, reporting | Leave a Comment