From the April 2017 issue of HealthCare Business News magazine
Identity verification solutions also tackle the scourge of identity theft and insurance fraud, issues that may be compounded during the ACA repeal-and-replace transition. There will likely be some degree of upheaval as insurance providers join or leave the new system. Employers and individuals may change insurance plans more frequently as they navigate new options and obstacles. Providers will have to focus resources on responding to regulatory and funding changes. If they can handle the administration of patient accounts more efficiently, the overall transition burden will be eased.
A confluence of factors is reshaping health care into a more consumer-driven industry. Early federal reform proposals recommend shifting funding to health care savings accounts in order to give individuals more choice and control regarding insurance plans. As patients pay more out of pocket, they are more likely to choose providers based on price and value. The quality of their care and their experience as a customer will become more influential, compelling providers to control costs and optimize services. Leading providers are adopting best practices from other consumer-driven businesses, including cloud platforms and services that automate, record and analyze patient data. Analytics-driven solutions can help providers improve treatment, comply with regulations, integrate with third-party systems, manage revenue and assess risks.
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Health care is inherently a dynamic, complex and high-stakes industry. As high profile, controversial government reform agendas put the industry on the hot seat yet again, health care administrators have to prepare for an uncertain future. As exigencies bear down from many directions, sustaining cash flow and maximizing revenue are fundamental to thriving through transition. Manual processes, patient data errors and high rates of rejected claims can be addressed with readily available technology solutions. Building stronger operational foundations today will enable your organization to develop the capabilities and resilience you’ll need for tomorrow’s challenges.
About the author: Bruce Ackerman is executive vice president of global sales for Acuant, a leading provider of data capture and verification solutions.Back to HCB News
