It’s safe to say that healthcare has come a long way from its low-tech past. Until just a few years ago, paper was still the foundation for most healthcare processes. We spent tens of billions of dollars, much of it government money, to adopt electronic medical records, for better or, in all too many cases, for worse. Interpersonal communications went … Read More
How self-pay can be turned into a provider advantage
Consumer? Consumerism? Consumerization? In the context of healthcare, all three evoke different perspectives (and emotions) regarding the healthcare continuum and the end-to-end patient experience. From a revenue cycle perspective, for what is known as the “patient financial experience,” the word we use is consumerization. This implies action, and lots of it; an ongoing effort universally acknowledged and urgently needed to … Read More
Cracking a tough nut in accounts receivable: Balance-due paid claims
I am speaking about balances due on paid claims. Among our clients, we see as much as 63% of accounts already have payments on them, and those with a balance due ranging from just a few dollars to several thousand dollars. The question is whether you have the savvy and the technology to work the accounts cost-effectively enough to make … Read More
Salud, automation and the future of claims resolution
Salud is beginning to use artificial intelligence to predict what kinds of claims will be denied, determine what solution would fix the problem and apply robotic process automation to quickly correct and/or dispute denied claims. Read the article.
Payer Collaboration Leaders Could Ease Payer, Provider Tensions
Though considerable tensions remain over narrow (and narrowing) provider networks and coverage and claims disputes, I see a continuingshift toward greater cooperation. With all of the financial pressures on both sides of the chasm, building bridges seems more fruitful than lobbing mortar shells. Read the article.
There’s Gold in the Zero Balance Review
After claims are closed, most hospitals and health systems, many with six figures’ worth of claims annually, will not review accounts that have been paid or adjusted off. Certainly, they will look at outright denials, especially if there is a pattern. But closed claims mostly have been the Dead Letter Offices of the healthcare system. And yet, there may be gold … Read More