FREE Webcast!
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Date and Time:
December 2, 2009, 1:00 p.m. – 2:15 p.m. Central Time
Webcast Summary:
As U.S. healthcare spending continues to rise, consumer-directed healthcare adoption increases, and unemployment nears 10%, hospitals and health systems must increasingly pursue payment collection from self-pay patients. While investment income drops and the ability to borrow decreases, self-pay accounts and bad debt are on the upswing, placing healthcare providers in a financial double bind. And the situation is likely to worsen as the number of uninsured and the financial responsibility of insured people grows.
Once a patient leaves the hospital, the chance of the patient paying their portion of the bill drops dramatically. The value of overall hospital receivables drops to 90 percent of the bill at 60 days, 80 percent at 90 days, and so on until after one year, the value is at 45 percent.
But hospitals don’t have to allow this self-pay revenue to fall away if they take a proactive approach to collecting from patients – at all points of service.
You'll Learn:
- How to leverage your front line staff to conduct pre-service and point-of-service financial clearance and collections
- Best practices for collecting self-pay revenue post-service
- Ways to use trending and analytics to further optimize revenue streams
Intended Audience:
CEOs, CFOs, VPs Revenue Cycle, Patient Financial Services managers and directors, Patient Access Management managers and directors in a hospital or health system.
Level:
Intermediate
Speaker:
Dave Mason
Vice President and General Manager
Provider Solutions
RelayHealth
Subject Category:
Revenue Cycle Optimization
