Maximize patient collections at the point of service
If you’re like many hospitals, you are struggling to collect from patients. While this isn’t a new problem, the rise in the number of high-deductible health plans means the payment mix is changing and more of your revenue is coming from patients. A recent study found that hospitals collect from only 35 percent of patients at the point of service, which represents just 19 percent of patient-owed fees. Making matters worse is that once the patient leaves the facility, your odds of collecting drop dramatically.
Your hospital can no longer settle for just a fraction of what it’s owed, but there are barriers to improving patient collections. Are your employees still performing many registration activities manually, like insurance verification and patient estimates? Do they have access to the information they need when they need it?
We understand the challenges you’re facing and can help you streamline critical workflows so that your organization can optimize revenue capture.