The healthcare market is changing. Decisions about care and spending are becoming increasingly consumer-driven, and new competitors are entering the marketplace to meet growing demand for cost-effective, convenient care. Hospitals need to adapt to this shift to retain patients and revenue streams.

We've seen the risks revenue cycle leaders take by not treating patients like consumers (Consumerism is the New Ball Game), and we’ve learned about how offering payment options (Solving the Patient Pay Challenge) and creating a digital engagement platform (Mastering the Art of Digital Patient Engagement) can set an organization on a path to...

In the first two parts of this series, "Consumerism is the New Ball Game" and "Solving the Patient Pay Challenge" we’ve seen how rising out-of-pocket costs for patients negatively impacts both them and healthcare providers, and how offering payment options can boost patient experience and provider profitability. Along with payment options, many...

In part one of this series, "Consumerism is the New Ball Game", we looked at the shifts happening in the healthcare industry. Though we painted a fairly dismal picture, we are confident savvy revenue cycle leaders will adapt to the new landscape and drive success for their organizations.

The healthcare industry is in transition. Gone are the days when we’d treat a patient, send a claim to an insurance company or Medicare/Medicaid for adjudication, and then receive a payment quickly. Patients are now the third largest payer for healthcare services, and with that increased responsibility they bring new expectations.