Billing and Collections
The potential exists for an unprecedented slowdown in receivables turnover as the Affordable Care Act marches toward full implementation. The importance of having a plan in place to mitigate this problem cannot be overstated.
The Affordable Care Act has created some new realities for hospitals when it comes to billing and collecting from patients. Hospitals are adjusting by instituting a variety of processes.
All but five states received a failing grade this year on the way they provide healthcare price transparency, according to a report by Catalyst for Payment Reform and the Health Care Incentives Improvement Institute.
Medicare's Trust Fund has a 12 years of solvency left and seniors are also being forced to pay more, making it a ripe time to reform today's haphazard payment system, argues Medicare's independent advisor.
The financial impact of the two midnights rule remains an open question and so is whether recovery auditors will challenge fewer claims or just shift their focus.
To compete in an increasingly consumer-centric business environment, healthcare providers must develop pricing and billing matrices that explain in detail the type of services rendered and the assigned amounts.
Despite the hassle of auto-cancellations, many home healthcare agencies find it difficult to keep track of their requests for anticipated payment.
Healthcare is one of the last bastions of consumer-unfriendly billing and pricing. As individuals start to take on more responsibility for premiums, deductibles and co-pays, they are increasingly demanding more transparency. And providers will be forced to respond.
Healthcare is one of the last bastions of consumer-unfriendly billing and pricing. As individuals start to take on more responsibility for premiums, deductibles and co-pays, they are increasingly demanding more transparency. And providers will be forced to respond.
Identifying an individual's health plan sounds pretty straightforward. Most hospitals have an eligibility system to verify a patient's coverage for a specific set of services from specific insurance companies. But as coverage expands and gets more complex, so do the pressures on hospitals.