A recent RevCycle Intelligence article with InstaMed customer Andrew Kouba, CFO of Abilene Diagnostic Clinic PLLC, explains how aligning the healthcare revenue cycle with the patient experience and patient demands will help to boost collections and streamline clinical encounters.
Read the full article, Accounting for the Patient in the Healthcare Revenue Cycle, in RevCycle Intelligence. Below is an excerpt from the article.
From value-based care to record-high levels of patient financial responsibility, the healthcare industry is undergoing a tremendous amount of evolution. And the healthcare revenue cycle is having to learn some new tricks to keep up. Top of that list is creating a patient-focused healthcare revenue cycle, explained Andrew Kouba, InstaMed customer and CPA. As the CFO of Abilene Diagnostic Clinic, PLLC, a multi-specialty physician group in Texas, Kouba has observed a significant change in how the healthcare revenue cycle works. When he first joined Abilene in 2016, patient accounts receivable (A/R) was at about 14 percent. Each physician in the group maintained his own collections and billing systems, and the group did not have a patient portal. Abilene’s revenue cycle wasn’t addressing the stakeholder at the center of care: the patient.