All private medical practices owe their success to the proper management of their revenue cycles. In order to receive prompt insurance reimbursement, they must submit their claims accurately and in a timely manner. However, these days, increasingly, practices have started to demand more money from their patients. Physicians in private practice are having to wait for many weeks to receive their payments. Even when those payments are forthcoming, they are frequently lower than the cost of providing those...

These days, there are more high-deductible health insurance plans than ever before. Therefore, it is necessary to optimize modern healthcare payment systems to ensure effective revenue cycle management. If your healthcare organization is struggling, these eight statistics could shock you into focusing your efforts onto patient payment collection.

There is currently a transition underway to care that is based on value rather than based on volume. This change is set to have a huge impact on how competitiveness applies to healthcare. Interest is growing in digital communication and patient payment plans. With new healthcare payment systems offering patients a choice, it’s easy to see why they are becoming so popular. As patients face increased financial responsibility, more payment options can only be a good thing.

The most recent consumer generation has entered the workforce and is already struggling to meet its payments. Members of Generation Z are struggling to come to terms with bill payments. Therefore, it’s no wonder 53 percent are paying bills late. This is important news for practices that are considering investing in a health payment systems provider portal.

Increasing numbers of U.S. citizens today have been forced into having an HDHP. Annual deductibles are high –- thousands of dollars for families. More than 40 percent of all people with private medical insurance under 65 years of age have an HDHP. This is a trend that is increasing year-on-year. For healthcare practices, this is bad news. More patients are now being asked for larger amounts to cover the cost of their treatments. These costs have increased by around 30 percent over the last four years. As...

Accuracy and speed are two things that every medical practice strives for. However, healthcare reform these days makes achieving these goals more difficult than ever. The value-based compensation model is time-consuming. Meanwhile, billing regulations and rules are constantly fluctuating. When practices fall behind, the result is serious billing errors, reduced revenue, and dissatisfied patients. The question many practices are asking is whether there’s a health payment solution that can eliminate these...

We have now entered 2019. And, that means deductibles on insurance policies have reset. For a few months, patients will pay out of their own pockets. This worries healthcare practices. Cash flow is already a problem. However, at this time of year, the concerns about patients failing to make payments are even more well-founded. How can you make sure your patients will pay in a timely manner? Finding the right solutions for healthcare patient payments could be the answer. So, how can you maximize your...