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 the latest episode of Availity Access, Jeff Chester, our Chief Revenue Officer, explains why yield has become a critical revenue cycle metric and why providers need to continue to focus on it in 2017.
The passage of the Affordable Care Act brought many new patients with high-deductible health insurance plans into the healthcare system. While providers were happy with the revenue generated from these new patients, they underestimated how difficult it would be to collect from them. They soon realized a higher cost to collect could quickly erode margins.
Tracking yield helps providers focus on two areas:
- Are we collecting what we should be from patients?
- Are we reducing our denial rate? If not, providers need to focus efforts on how to improve those processes.