As consumers continue to owe more for medical services, a disconnect exists throughout the industry between how providers bill for their services and how consumers expect to make healthcare payments. In this recent HFMA Revenue Cycle Strategist article, InstaMed CTO and Co-Founder Chris Seib outlines four digital principles for patients to understand healthcare payments.
Read the full article, Four Digital Principles Help Patients Understand Financial Responsibility, in HFMA’s Revenue Cycle Strategist. Below is an excerpt from the article.
Instead of taking
In a recent RevCycle Intelligence article, Abilene Diagnostic Clinic’s CFO Andrew Kouba shared his story of how his Texas-based multi-specialty physician group’s move to a consolidated medical billing experience lowered patient accounts receivables from 14 to 2 percent and allowed independent physicians to stay independent by implementing the InstaMed One Bill solution.
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