Health care debts are rising rapidly, as hospitals and other medical facilities struggle to collect what is owed to them.
Health care providers have among the most challenging job when it comes to account receivable and collections, but outsourcing can help.
The health care community has had to weather a wealth of storms of late, especially given the changing composition of the American population, the endless stream of major legislative overhauls, more acute patient expectations and higher levels of competition.
Providers are starting to offer consumers zero-interest loans to cover mounting out-of-pocket costs.
As a way to lessen financial risk and protect their bottom line, more hospitals are administering credit checks to determine a patient’s ability to pay.
With the rising cost of health care, providers need to focus their efforts on improving the efficiency of their revenue cycle.
Better patient/provider communication is the key to improving revenue cycle management.