There have been direct correlations found between patient satisfaction and payment, as well as between patient satisfaction and patient education. This triangle comes together to essentially mean this: if patient education isn’t sufficient, patients aren’t satisfied, and that negatively impacts the way they pay their bills. By focusing on patient education—specifically about their financial responsibilities—you can increase patient satisfaction, helping to close the revenue cycle even faster. Continue reading Improving Patient Satisfaction via Payment Education
The landscape of healthcare is changing, and one of those changes is virtual doctor visits. Recently, health insurer UnitedHealthcare announced it would begin offering in-network virtual doctor visits to its members, for the same cost (or even less) than traditional visits. Doctor on Demand, Optum’s NowClinic, and American Well’s Amwell will provide the care. Continue reading The Future of Virtual Doctor Visits
Unfortunately, it’s not uncommon for call center reps of accounts receivable departments to get baited by the people they’re calling. Patients will ask specific questions designed to get the rep to violate statutes or laws that govern the way hospitals and medical facilities can collect money.
Since hitting the scene a few years ago, concierge medicine has been the subject of much discussion. Concierge medicine refers to an arrangement in which a patient pays a set amount a month, and the patient has a certain number of hours he or she can see the doctor for that time. These “retainers” are common in other business fields, and are even becoming more common in veterinary medicine, but will it work for human medicine? Continue reading Concierge Medicine: Doctors on Retainer?
Fitbit—the handy little wrist pedometer that is so much more than that—recently had a huge IPO that’s gotten a lot of people talking about the future of digital health tools and what it means for the healthcare industry. Continue reading Digital Health Tools & Wearables Can Save the Healthcare Industry Billions
As the Affordable Care Act continues to evolve, it’s changing the way many Americans are paying for their healthcare. And while it comes with its own set of struggles, the ACA is showing good signs for Americans’ medical debt problems. Continue reading The ACA’s Impact on Self-Pay
A new poll released by the American Hospital Association says that seven out of every ten Americans believe that prescription drug costs are unreasonably expensive. Continue reading Will Drug Prices Affect Patients’ Adherence?
Believe it or not, a report issued by the Consumer Financial Protection Bureau states that up to 26 million people—or 1 in every 10—in the United States don’t have a credit history with one of the three nationwide consumer reporting agencies. Beyond that, roughly 19 million don’t have a credit history extensive enough to create a credit score.
What does this have to do with self-pay and hospitals? More than you might imagine.
Continue reading Does Credit History Matter in Self-Pay?