The healthcare industry has been focused on understanding and adapting to the new impacts of healthcare consumerism, and for good reason; The Sixth Annual Trends in Healthcare Payments Report identified consumerism as one of the major trends impacting healthcare organizations today. In a separate blog post this month, InstaMed CTO and co-founder, Chris Seib, outlines some of the most critical consumer payment behaviors that affect healthcare providers today.
While healthcare organizations should continue improving the consumer experience, new processes should not
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