Posts Tagged ‘revenue cycle’
End-to-End Patient Experience Becomes Top Priority in Today’s Evolving Revenue Cycle
Regardless of how good the average experience of a patient has been during their time at any given healthcare system, what often determines their general memories of their experience is the financial resolution that follows after. High costs and/or a difficult payment process can tarnish a patient’s perception and greatly affect their opinion on said healthcare system as a whole. One of our own team members experienced a similar situation in which she chose not to return to one of her specialist doctors because their outpatient coder mishandled her bill, resulting in her insurance not covering the charge and her bill sitting in revision. In today’s world, you can leave a review of your experience virtually anywhere where payment is exchanged. It is because of this that health systems need to prioritize reinforcing the structure of their back end and front end financial processes to make them look, feel, and behave more like online retail or personal banking environments.
Read MoreValue-Based Care: Trends and Challenges in Revenue Cycle Management
The effectiveness of value-based care models is measured based on how this type of reimbursement can improve the quality of a patient’s overall health. Reducing hospital readmissions and improvement in preventive care are good examples of critical factors to assess the effectiveness of these models. U.S. legislation is clearly moving towards the adoption of value-based care models.
Read MoreUrgent Care Boom Equates to Increase in Hospital’s Revenue per Admission
Over the course of the last decade, U.S. hospitals are continuing to expand their urgent care clinic networks. According to a NPR/Kaiser Health News report from December 2017, the primary goals for adopting a more decentralized approach through urgent care facilities include: Expanding the footprint/brand of the health system (at a discounted rate); Generating new referrals; Keeping patients out of the ED (40% of ED visits nationwide DO NOT require Emergency Services); and boosting patient satisfaction.
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