From the March 2017 issue of HealthCare Business News magazine
Rapid growth of high-deductible plans
Employers will be forced to drive more of their workers to high-deductible health plans to survive the growing cost of health care. Providers’ dependency on the revenue generated by these health plans will similarly increase, meaning significant pressure on the accounts receivable process to bring in that cash quickly and efficiently.
How can technology help?
While these challenges may seem daunting, there is also opportunity. Working with the right technology and finding smart ways to integrate and automate processes can help health care organizations navigate these uncertain times, while continuing to focus on providing quality patient care. Providers should look to do the following:
• Integrate disparate patient accounting processes into one efficient system. Find a software solution that can easily take data from multiple systems and combine it into one single database. This combines your processes for efficiency and optimal performance.
• With a combined database, provide an easy, single-patient billing experience with many self-serve options to reduce labor-intensive patient accounting processes.
• Find key embedded data partners with the software that increases productivity through automated solutions, which increase productivity and cash recoveries. Finding the right technology helps providers to focus on the outliers and account exceptions, instead of spending time and resources you don’t have managing each and every one.
Take advantage of the constantly improving health care technology landscape and you’ll ways for your health care system to thrive no matter the shift in legislative winds.
About the author: Shawn Yates serves as director of healthcare product management for Ontario Systems, defining the company’s strategy for product and service offerings in the health care market. With over 20 years of experience working in the revenue cycle management space, Yates has a unique perspective on how technology can improve not only the provider, but the patient experience as well.Back to HCB News
