January 23, 2018
Every health system and medical practice can benefit from keeping a pulse on patient engagement, communications and payment process best practices. Throughout 2018, we will highlight the trends, news and events that impact your competitiveness and bottom line. First up is automation of back-office processes.
According to Black Book’s 2017 Revenue Cycle Management survey, 82 percent of medical providers and 92 percent of hospitals plan to discontinue “time-intensive, error-prone, manual efforts to back-end process and reconcile bills” by Q4 2018. Black Book gathered data between April 1 and September 30, 2017, from 2,698 healthcare providers, along with 850 healthcare consumers with high-deductible health plans (HDHPs).
Several factors are driving the shift away from manual processes in medical billing departments:
Patients’ expectations for the back office now rival their high standards for front desk and clinical staff. They want the entire care experience to be hassle-free from booking the appointment to paying the bill.
Today’s patients want:
Transitioning away from paper communications and manual billing reconciliations could save the healthcare industry billions of dollars. According to the same Black Book survey, 83 percent of providers will look to technology for the answer to manual, error-prone processes.
Innovative revenue cycle management (RCM) and payment processing companies know that patients who are engaged throughout the service delivery cycle are more likely to participate fully in billing and payment processes. With RevSpring, you can leverage data-driven patient engagement programs and intelligent communication workflows to create tailored pathways. The analytics-powered paths drive patients to take charge of their bill payments and care schedules.
In addition to assisting organizations with optimized statement printing, our predictive analytics enhance automation efficiencies and payment collection rates. From automating payment channel preferences to customizing outbound interactive voice response systems, you can engage patients and power payments with Intelligent Workflow Solutions.
Learn more about patient engagement and automatic payment reconciliation by contacting firstname.lastname@example.org.