Patient payment responsibility increased 11% in 2017 according to a recent analysis by TransUnion Healthcare. Third-party payers are paying less and patients are choosing higher deductibles to keep their out-of-pocket premium costs down. All of these trends point to one unavoidable fact: A greater percentage of your top line revenue will be contingent upon your […]
5 Action Steps for Optimizing Your Collections
The number of patients with high-deductible commercial plans continues to grow. The costs of health insurance premiums are on the rise, which means that employers are likely to eliminate other employee benefits, such as dental benefits. It’s a fact; your patients have to pay more today for their healthcare than ever before. Since 2006 your […]
Healthcare Payment Options – Utilizing EFTs
Staff time and labor spent interacting with multiple third-party payers for the purpose of collecting a healthcare provider’s charge consumes two-thirds of a full-time equivalent employee per physician according to a study that recently came across my desk. The chart below shows the various tasks that consume the time of this non-clinical staff. Additionally, it is […]