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InstaMed Blog Archives

Your VP of Patient Experience Needs a Seat at the Revenue Cycle Table

Every organization wants to maximize revenue and deliver the best possible healthcare service. The problem is many healthcare organizations fail to realize that these two goals are connected. The finance team might not consider the impact that patient experience can have on revenue, while the patient experience team might not think about payments as part of an overall positive healthcare experience. This disconnect prevents both teams from achieving their goals, and creates a negative impact on a patient’s end-to-end healthcare

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What is Integration and How Can Providers Benefit?

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Steady increases in patient financial responsibility and government regulations have led healthcare organizations to invest in technology to help scale the growing healthcare economy. As a result, you may be using multiple systems for billing, payments, patient records and more.

What Is the Challenge of Using Multiple Systems for Payments and Billing?

The challenge is that these systems are usually disparate and do not function well

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The Disconnect in Our Healthcare Economy

According to the Consumers Union, total wasted spending in healthcare is $765 billion. Of that $765 billion, $190 billion – nearly 25% – is identified as excess administrative costs. However, that label does not accurately describe the problem. Administrative costs mainly refer to the time and money spent collecting, processing, posting and reconciling payments. The reason these costs are in excess is because of a disconnect between providers, payers and consumers in the healthcare payments process. As much of the

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What is Tokenization and Why Should Providers Care?

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As payment technology continues to advance, forward-thinking providers can leverage new ways to improve the healthcare payments process.

While tokenization has been around for years as a means of securely saving payment information, it wasn’t always widespread within the healthcare industry. It is important for healthcare to understand that tokenization offers benefits beyond adding a layer of security to payment card processing. By using this

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