Challenges in Revenue Cycle Management
By making patient billing processes more automated using modern payment systems can be an option to improve revenue cycle management services.
According to recent survey, patient accountability was also a major issue for participants, who reported its difficult time for collecting payment from patients. About one-third of survey respondents (31 percent) said they struggle with patients’ failure to pay for medical bills. Additionally, 26 percent of participants experienced problems while educating patients about their financial responsibility. A quarter of participants said slow-paying patients are also a significant challenge.
You can avoid unexpected medical bills to patients by providing them with an estimation of their financial responsibility before treatment is provided.
Patients are confused or overwhelmed by insurance coverage and medical billing. Especially the rise of high-deductible health insurance plans; patients are assuming a greater share of healthcare costs.
The approaches to the previously discussed challenges will also help with patients who would otherwise likely have difficulty paying. Ensure that patients are offered a wide variety of payment options to remove barriers to payment.
Is it better to take the time up-front to help the patient understand and discover ways to pay for the treatment on time?
You need to reassure that billing, eligibility and estimations are correct and taken if you want patients to feel comfortable. Many billing systems are computable today and have ability to accommodate both a medical terminology description and an alternative one that can be plain English for patients.
The Medisys billing manager is an expert towards addressing many of these issues. For more information and best practice suggestions, contact our Medisys billing manager and ask how your practice can better in future to boost reimbursement.
About Medisys:
We are a group of medical billing experts who offer comprehensive billing and coding services to doctors, physicians & hospitals. We provide end to end billing and coding solutions. Medisys Data Solutions RCM solutions ensures that the providers recover every $ they are entitled to. Our vision for the providers is “You Cure. We $ecure.”
