Availity Access provides a glimpse into the people behind our products. It features commentary on challenges facing the healthcare industry and how Availity can help providers and health plans better share healthcare information.
In our latest episode, Jeff Chester, Availity’s Chief Revenue Officer and Senior Vice President, discusses what he sees as the big healthcare trends in 2017. Despite the uncertainty now surrounding the fate of the Affordable Care Act (ACA), Jeff believes consumerism and the transition to value-based payment models, two trends which rose in large part because of the law, will continue to drive the industry. He sees this in the following areas:
Whether patients are covered under ACA plans or through their employers, they are increasingly likely to have a high-deductible health plan. As patients are asked to pay more, they are expecting more in return, and healthcare organizations are finding out how difficult it can be to compete in a consumer-driven marketplace.
Many healthcare providers welcomed passage of the ACA because it meant more insured patients, but they underestimated the challenges associated with collecting the patient portion of the bill. Because gains from increasing volume are being offset by the high cost to collect, provider organizations require a deeper understanding of how their revenue cycle is performing so they can address these problem areas.
Although the healthcare industry is transitioning to value-based reimbursement models, operational models are still firmly entrenched in the fee-for-service world. Healthcare organizations must invest in transforming their organizations, but tight margins make that difficult. Initiatives that focus on automation and reducing waste might help them free up the necessary funds.