Pummeled by unprecedented demand, unplanned expenses and a devastating disruption in ordinary business and revenue, hospitals and other healthcare providers are plotting a course toward the industry’s post-COVID-19 reality. To thrive in the “new normal”, providers will lean on technology to optimize care, support patients and their families and...
Events have converged to force healthcare in America to a tipping point. Stressed by overwhelming financial burdens, better consumer experiences in other sectors and with the support of regulators, patients are flexing their consumer might to force change and stimulate disruption. Traditional providers are taking steps to remain relevant and...
The Center for Medicare and Medicaid Services (CMS), Healthcare Financial Management Association (HFMA) and U.S. Congress among others are calling for improved transparency, better access and an end to aggressive healthcare collection tactics. Physicians are joining the chorus, with a sobering take on the health-related impacts of unaffordable...
Though the Center for Medicare and Medicaid Services’ updated Star Ratings and proposed rules on hospital price and quality transparency may be clumsy, even ineffective, their intentions are clear. The largest source of revenue to hospitals in the U.S. is setting a new, much higher bar for the way hospitals and payers help patients find and...
Making it easy for patients to pay in advance or at point of service leads to a number of well-documented advantages for both hospitals and patients. But most hospitals lack the ability to engage with patients in a meaningful conversation about price, affordability and payment when it matters most.
With higher personal costs for healthcare care driving a dramatic shift in patient behavior, patient loyalty has never been more important - or more at risk. Hospitals and Health Systems are faced with a stark choice - Either improve revenues by delivering financial transparency, accessibility and technology, or watch market share and revenues...
Physicians and other clinicians represent an important and often overlooked constituency in the debate about healthcare price transparency. With rising out-of-pocket costs causing patients to avoid, delay or ration care, doctors need information about price to design treatment plans their patients will actually follow.
Most of us are familiar with the aphorism, “You have to spend money to make money”, but many health systems and hospitals have relied primarily on cost cutting to preserve deteriorating operating margins. As consumerism in healthcare continues to expand, providers must invest to improve efficiencies, engage consumers and drive growth.
The Center for Medicare and Medicaid Services has proposed far-reaching new rules requiring hospitals and health plans across the U.S. to make prices for many of their more common procedures available to the public. The industry is realizing that this alone will not empower patients with the tools they need - and finding patient-first ways to...