By Crystal Ewing – Did you know that patients who receive a cost estimate are more likely to recommend your practice to a friend? Not only does a cost estimate increase your referral rates, but it can also motivate up to 46% of your patients to pay their bill faster.
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By Crystal Ewing – While there is a 21-month transition period from 4/1/18 to 12/31/19, the phased roll-out of new cards began last month. However, until the transition period ends, you’ll need to accept either number.
By Crystal Ewing – You may not be able to hear the slow drip, drip, drip of revenue leaking from your ambulatory practice – but chances are, it’s happening. Experts say revenue cycle inefficiencies eat up about 15 cents of every healthcare dollar — a number projected to jump to 33 cents by 2022, due to inefficient payment processing.
The thought leaders in our community are good about sharing their thoughts on the issues of today. Here are the top read and shared guest posts of September that we think deserve sharing again.
By Crystal Ewing – It doesn’t matter if you’re big or small, urban or rural, for-profit or nonprofit – no hospital or healthcare system can afford revenue leakage. You may know the most common sources of leaks; you may even know which ones are most likely to affect your organization.
By Crystal Ewing – Revenue leakage – defined in this case as the loss of reimbursement due to RCM issues or inefficiencies – has long been an issue in healthcare. McKinsey & Company reports that today these inefficiencies consume 15 cents of every healthcare dollar.
By Crystal Ewing – “That’s the way we’ve always done it.” Who among us hasn’t heard that phrase at some point in our careers? It’s definitely a common refrain in business. Change can be difficult, which means it’s much easier to continue doing what you’ve always done…
By Crystal Ewing – Hospitals and physician groups are facing what is perhaps the greatest recent challenge to their bottom lines—the growing portion of the medical bill that is charged to patients.
By Crystal Ewing – As the rules and requirements around health insurance continue to increase in complexity, more healthcare providers are beginning to look to clearinghouses to help them improve revenue cycle management (RCM) overall.