Patient payment and collection practices are highly complex, and with high deductibles, patients have evolved into a primary payer source. On average, healthcare consumers are now responsible for 30% to 35% of their healthcare bill, and collection costs are significantly higher for patients as compared to payer collection. Traditional billing practices are obsolete, require analytics, and now have significant downstream debt risk. It is increasingly important to leverage predictive analytics for patient-centered financial discussions throughout the continuum of the Revenue Cycle. Following this session, attendees will be better positioned to drive patient engagement and create best-practice patient financial encounters.
Summarize market overview of the patient as the new payer and how to pivot
Rationalize the short comings of traditional billing and how an envelope in the mail will always fall short
Articulate patient payment behaviors and how to shape organization’s strategies for a positive financial outcome
Explore how predictive analytics can help accelerate your revenue, reduce bad debt and improve cash flow
Discover actionable, easily-deployable best practices and solutions to create positive changes rapidly in your revenue cycle