Establishing the right model for patient payment: A University of Kansas Health System Case Study
In an era of increasing high deductibles, steady shifting of healthcare costs from payers to individuals not only intensifies pressure on patients' pocketbooks, but also changes their attitude toward payment. More than half of patients are concerned about their ability to pay a medical expense of $1,000 or less, a recent survey shoes- and the less patients are able to afford their healthcare bills, the lower these bills drop in priority.
Two years ago, University of Kansas Health System (UKHS) saw the impact high-deductible plans were having on collections, bad debt, and days in accounts receivable (A/R) for both hospitals and professional accounts. At the time, UKHS offered an internal, 18-month payment plan for patients who faced difficulty paying for their out-of-pocket costs for care, but the monthly payment amounts were too high for some patients to manage.
UKHS redesigned its payment plan approach to include long-term, zero interest patient financing for patients in need, with discounts for true self-pay patients. The results have been outstanding:
- Nearly 20 percent drop in bad debt
- Seven-day reduction in days in A/R for professional accounts
- Financing of $8.2 million in patient accounts, with a recourse rate of just 8 percent
- Increased patient satisfaction
You can have it all: Loyal patients and self-pay reimbursement
Collecting patient self-pay and keeping patients loyal don't have to be mutually exclusive. In fact, since many people now weigh affordability and convenience equally with quality care outcomes, successful health systems are those that differentiate by appealing to patients as retail consumers. Hear best practices from CentraCare Health in Minnesota, Maine General Health and UPMC Pinnacle in Pennsylvania that keep patients returning to their health system while contributing to bottom line performance.
Consolidated Patient Billing: Explore innovative ways to drive increased collections
Implementing single-statement billing can be a daunting task for providers. Given the range of options, decisions and changes that must take place, combined with the operational work flow, providers need guidance and support to help them launch consolidated statements within their organizations.
With the right approach and strategic outlook, consolidated statements can be a win-win for both providers and patients. Patients benefit from simple billing - everything's all in one place with one check to write and one-stop shopping for customer service. Providers also benefit from cost savings achieved through economies of scale and staffing efficiencies associated with reduced mailings.
This webinar will help providers develop their own 4-step readiness plan and best practices to transition to single-statement billing with the goals of achieving positive outcomes for patients, and deploying a successful deployment that is operationally and financially sound.
PAE: Health Plans - An Overview
In this course we will address the basic billing rules for major health plans, including an overview of basic billing features and benefits, types of billing rules and minor claim payers and plans.