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3 Ways Tech Can Help Hospitals Collect
The way Americans pay for healthcare services is changing—and as a result healthcare providers will be forced to take on new or expanded roles as benefits educators and administrators, financial counselors, creditors, and collectors.
HealthLeaders recently convened a panel of experts in Boston to discuss how healthcare organizations can adapt to the new landscape. We talked about a range of topics—from patient financing to outsourcing collections to honoring your mission and protecting your brand while you mind your bottom line.
One theme that emerged during the discussion: Technology can help healthcare organizations with many of the collections issues they face. Panelists discussed three ways technology can enhance the collections process.
Insurance models are becoming more and more complex—high deductible plans, co-pays, co-insurance, and different tiers of coverage can confound patients. So who will be responsible for education? And how can technology help?
"It's challenging from a patient education perspective: telling patients why they owe more money than in the past, interpreting new rules, helping patients into the right programs, and helping them understand those programs," said Thomas Yoesle, chief operating officer patient financial services at Orlando Health.
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Comments are moderated. Please be patient.
Badri Narasimhan (9/20/2011 at 3:23 PM)
Another way physicians and hospitals can cut their revenue cycle for in-patients is by charge capture at the point of care. There are technologies that enable the physician to scan the barcode of the patient's wristband and enter charges and have them be billed in 7 seconds. The delay in the charge even getting to the payor is terrible.