The new reality of increased patient financial responsibility has left many healthcare providers struggling to collect patient balances. Whereas the patient component of the revenue cycle was once comparatively trivial, now its importance and complexity requires a modern approach that demands processes integration, holding vendors accountable to performance impacts, and focusing a team on ongoing needs.
Getting beyond piecemeal approaches
Faced with a rising tide of bad debt, from 29% to 38% in a single year, a large Southeastern healthcare system was seeing a sharp decline in net patient revenues. The need to improve collections was dire.
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