When someone says “price transparency,” what pops into your head? For me, it’s a Chinese menu. Your list of choices include the prices─often with pictures, too─so you can pick exactly what you want and know the cost of your wonton soup, General Tso chicken and green tea ice cream. Or you may think of a no-haggle car dealership that puts one sticker price on each car to eliminate negotiation.
Toward the end of 2015, I introduced two posts to address questions we frequently hear about improving financial health. This third post delves into a topic of increasing importance: price transparency. Read more
The average insurance policy has a $2,000 deductible, so each patient is essentially a self-pay patient. This means that healthcare organizations must be more transparent regarding financial policies and insurance relationships. The question is – are healthcare organizations prepared to handle the influx of self-pay patients?
You can learn more by attending a free webinar on Tuesday, February 16th at 1 pm ET/10 am PT: 8 Best Practices for Collecting from Patients with Deductibles. Register now!
Not too long ago, healthcare experts compared ICD-10 to an impending hurricane. And we Southerners know all about hurricanes. We have emergency kits with batteries and flashlights. Our coastal homes get hurricane shutters and reinforced pilings. Yes, we Southerners know hurricanes like Minnesotans know blizzards.
The last three months of 2015 delivered some great news: the healthcare industry was indeed prepared for ICD-10. It wasn’t a catastrophe of hurricane-sized proportions. Most healthcare providers were successful. Read more
2015 was one for the books! With the transition to ICD-10 in October and other healthcare industry challenges coming to light, we covered a lot of ground on the blog to help keep you and your organization at the top of your game. In case you need a refresher, we pulled together our top five most popular posts from the past year—enjoy!
- Using Benchmarks Correctly: Days in A/R and Net Collections
This blog post discusses why it’s important to periodically track, trend and review performance data. These benchmarks are the only surefire way to understand your financial strengths and weaknesses, and subsequently improve both! Read more