Recession-Proof Your Revenue Cycle: 4 ways providers can optimize patient collections and avoid revenue loss
August 3, 2020
COVID-19 has ripped through healthcare revenue cycles.
The pandemic itself could cost hospitals $200 billion over a four-month period.
With postponement of electives hitting the bottom line, people falling off payroll, and provider cashflow taking a hit, the post-pandemic world for healthcare will be challenging. Optimizing patient collections is key to preventing revenue from slipping through the cracks.
In this comprehensive eBook, we provide your recession-ready collections checklist, exploring four ways healthcare providers can increase patient collections and guard against recession:
A compassionate billing approach: offering personalized communications and payment options
Automated coverage discovery: find missing and forgotten coverage so claims are accurate the first time
A collections strategy that includes credit data: offers actionable insights about a patient's propensity to pay
Get patients on the right plan and check for charity care ASAP: identify patients who need extra support and connect them with the right financial assistance program
Let’s look at how healthcare providers can optimize patient collections and build a resilient revenue cycle, whatever the future holds.
A Single Source of Truth for Provider Demographic and Professional Relationship Information
July 28, 2020
Chances are you’ve had more than a few patients go to your health systems’ website to find a new provider or specialist, call to make an appointment only to find out that the practice doesn’t accept their insurance, isn’t accepting new patients, or that the physician they wanted to see recently left the practice.
It’s frustrating not only for patients who are denied care but also for the health system, that needs to deal with canceled appointments and with disappointed patients. Accurate provider directory information enhances your efficiency and cash flow and helps patients find the right providers.
Why is an accurate provider directory so hard to achieve?
July 28, 2020
Recent surveys report that each year 20% of physicians change their address and/or phone number; 30% change their health-plan, hospital or group affiliations; and 5% have status changes. If you are a large health system trying to manage your affiliates data, this can be a time-consuming process.
Inaccurate provider directories create significant financial risks for payers, hurt clinician and consumer satisfaction, and waste time for everyone. Now you can eliminate these problems, once and for all.
Learn how accurate provider directory can be achieved!
Workforce Management Strategies that Work Now: Optimize Staffing to Improve Financial and Clinical Outcomes
API Healthcare, now a part of symplr
July 22, 2020
In the face of uncertainty, a strong workforce management strategy can be a stabilizing force. Learn how health system leaders are using innovations in strategy and technology to achieve better clinical, financial, and operational outcomes.
This industry research report addresses:
How to use patient-centered staffing to ensure both clinical and financial outcomes.
Techniques for building sustainable success with a workforce management strategy enabled by data, technology, policy, process, and people.
A proven approach for achieving success with data-driven staffing decisions.
Empowering Patients Helps Improve Your Bottom Line
July 21, 2020
Price transparency is becoming increasingly more important as we usher in the new era of healthcare consumerism.
As members seek higher quality affordable care, many provider offices that have yet to embrace a price transparency policy may lose current or potential new patients. Cost-of-treatment conversations are often hampered, not for competitive or proprietary reasons, but because the provider’s office lacks the capacity to reflect the member’s specific benefits and plan negotiated price discounts. But when it comes to understanding what patients owe, providers can no longer afford to be uninformed.
Embracing the COVID-19 Disruption: Defining the Future of Hospitals
July 2, 2020
The coronavirus pandemic has transformed healthcare overnight. With their missions on the line, health systems are deploying creative solutions to improve care delivery. Traditional hospital models are being redefined through better-integrated provider teams and technology-driven holistic care, such as:
Virtual front doors: triage models that quickly identify the appropriate level of care
Beyond in-person care: new technologies for patients and providers to connect in non-traditional settings.
Accelerated adoption of artificial intelligence and remote care