Earlier this month, many students brushed off their textbooks and headed back into the classroom for a new school year. Healthcare providers can take a cue from the academic calendar and use September to review their healthcare payments processes. Last month, InstaMed Security Officer Noah Dermer gave providers a Back to School Security Checklist. This month, let’s focus more on the revenue cycle and talk about some terms that should be a part of your everyday patient payments vocabulary.
In a previous blog post, we talked about the various benefits healthcare providers see when they integrate payment with their existing practice management system, including greater efficiency, increased security and more opportunities to collect patient payments.
These benefits are highlighted in our most recent case study with Cornerstone Pediatrics. Cornerstone Pediatrics wanted to establish a new billing policy that would help them tackle the challenge of increasing patient payment responsibility. They knew the parents of their patients had many financial responsibilities
In our last post, we stated that Smart Big Data has the capability to transform the collection process in healthcare. By using Smart Big Data to trigger automated processes and real-time decisions at the staff level in daily operations, providers can collect patient payments efficiently, navigate the changes facing the healthcare industry – and ultimately, to thrive.
Finding Payment Assurance in the Healthcare Industry
When you stay at a hotel, are you able to check in without giving your payment card? Of
As healthcare reform adds millions of new consumers to the U.S. healthcare system and deductibles continue to rise, providers must operate more efficiently to keep administrative costs low and collect more from patients. Many industry experts believe that the recent influx of data and analytics due to innovation in healthcare technology, or Big Data, will give all healthcare organizations the ability to navigate the changes – and ultimately, to thrive. In fact, a recent McKinsey report estimates that Big Data