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Speakers

Jonathan Wiik
Principal
TransUnion Healthcare

Summary

Behaviors in patient payment are very unique and traditional billing practices are not sustainable in the long term. On average, consumers are now responsible for 30 to 35 percent of their healthcare bill and collection costs are significantly higher from individual patients on a per-transaction basis than when collecting from payers (by as much as three times). It has become increasingly important to leverage predictive analytics for financial discussions, keeping the patient at the center.

In this session you will learn how to debunk common myths surrounding patient payment behavior, and gain insights on how to stratify your bad debt portfolio for positive cash flow. Differentiating between a patient's willingness and ability to pay is critical to the revenue cycle at your organization. Following this approach, providers can see benefits in patient finance and satisfaction, though accurately and efficiently classifying patients into the most appropriate funding mechanism—payment, installments, loans, or charity.      

After This Webinar You'll Be Able To:

  • Summarize market overview of the underinsured, Balance After Insurance (BAI), and medical debt and its impact on the healthcare industry.
  • Describe the "myths" of patient payment behaviors and how to pivot your organization's strategies for a positive financial outcome.
  • Describe the key components of bad debt stratification, and how predictive analytics can help accelerate your reimbursement and improve cash flow. 

Recommended for:

CEOs, CFOs, revenue cycle directors, VPs of supply chain, and billing and collection managers

Field of Study: N/A                                                                        
Delivery Method: Group Internet
Level: Basic    
Pre-work: None
Prerequisites: None     
Contact hours: 1.0

Pricing

HFMA members: Free  

Non-members: $99                                                                                   

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Note: This on-demand webinar is available until January 31, 2018.