Billing and Collections

Providing cost estimates facilitates financial transparency and encourages timely payment. As an added benefit, nearly 70 percent of patients say if they received a cost estimate, they’d be more likely to recommend the organization to a friend.

One health system improved its billing accuracy rate from 72 percent to 90 percent by using Lean concepts, Kaizen, and Gemba walks.

An adaptive financial assistance system that bills according to a patient’s economic situation can encourage better rates of patient payment.

An electronic payment system can help a hospital increase revenue.

Combining patient-centric and easy-to-understand statements with statement delivery through a streamlined EHR integration helps providers build win-win relationships with their patients.

During this Forum-exclusive networking webinar, attendees will participate in an interactive discussion about the fundamental elements of financial experience that every healthcare organization should master. 

Fully managed revenue cycle functions present challenges and opportunities. When successful, they better align with an organization’s clinical and financial goals.

St. Luke’s Cornwall Hospital overcame patient access challenges with more than a technological fix. The hospital necessitated a culture change and put a high priority on data capture and analysis of previously unmeasured KPIs.

What is the general consensus on lab charges that are consistently late because of the need for specimen growth?

The University of Rochester Medical Center’s high-cost drug manager works to help patients get access to appropriate drugs and mitigates the financial risk associated with buying and administering them.