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

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

Steps to Payment Assurance: A New Model for Healthcare Providers

Think of the payment assurance that Best Buy has in a payment transaction: it allows a consumer to walk out of its store with a thousand-dollar television, even though the payment is not yet in the company’s bank account in the form of available funds. The only thing Best Buy has to fall back on is its trust in an authorization, delivered by a payments network, after a consumer’s payment card is processed. Imagine telling Sam Walton in 1960 that

Tagged Claims, Consumerism, Eligibility, ERA/EFT, healthcare payments, increase collections, integrated healthcare payments, patient estimation, patient payments, patient responsibility, payers, payment assurance, payment strategies, providers

Real-Time Adjudication – Is This the Silver Bullet?

Over the past 10 years, one of the top administrative priorities for the healthcare industry has been the development of real-time adjudication (RTA) for healthcare claims. By 2005, the RTA effort had attracted a great deal of attention and effort across the industry. However, five years later, the results delivered have been underwhelming for both providers and payers.

The Core Problems

Although RTA makes sense from a high-level standpoint, the healthcare transaction process has nuances, both from a technology and business perspective.

Tagged Claims, healthcare payments, increase collections, integrated healthcare payments, payers, payment assurance, providers

Payment Assurance Level One Certified: Austintown Pediatrics

Austintown Pediatrics, a solo pediatrics practice in Austintown, Ohio, has achieved Payment Assurance Level One, reducing its patient bad debt by 50% and cutting payment processing time by 50%.

Here’s Austintown Pediatrics’ story:

The Issues Behind the Business Problems

Lack of Vendor Integration
Austintown Pediatrics leveraged a third-party billing company to manage payer and patient payments; however, the lack of integration with its practice management system led to inefficient processes, reconciliation difficulties and increased patient bad debt.

Lack of Claims and Payment Visibility
Without integration, the

Tagged Claims, Eligibility, ERA/EFT, healthcare payments, InstaMed Network, integrated healthcare payments, patient bad debt, patient payments, payment, reconciliation, remittance, vendor integration

Blog Post Topic: integrated healthcare payments

3 Essentials to Collecting More Payments

8 Things ACOs Need to Know About Healthcare Payments

Steps to Payment Assurance: A New Model for Healthcare Providers

Real-Time Adjudication – Is This the Silver Bullet?

Payment Assurance Level One Certified: Austintown Pediatrics