Surprise medical bills are red-hot for regulators and legislators, even the president. Despite the challenges of finding a solution, there’s some good news for providers and their patients.
Patients are setting the bar higher than ever. They are demanding not only more transparency into hospitals’ clinical performance, but also greater convenience in all aspects of how they plan and pay for care. The shift to patient-driven revenue streams has introduced many new challenges for providers—but it has also created opportunities for...
Improving the financial dimension of the patient experience wasn’t a lifelong goal for me, and I didn’t start as a result of one single event. In fact, it was something of an accident that I took my career in this direction. But after I found myself on this path, I realized it was a goal to which I would be proud to commit my life. Here’s how...
The increase in patients’ individual financial responsibility poses a serious challenge to hospitals’ billing and collections practices, because institutional payers and individual patients behave in very different ways. Insurance companies and government payers require a lot of data in a structured, standardized process. Patients are much more...
Ronald Heifetz of the Harvard Kennedy School has argued that organizations experience two main types of change: technical and adaptive.
Doing things yourself has always been part of the American way of life. Now, self-service options are more in demand than ever. From gas pumps to grocery store checkouts, virtually every consumer-facing business that has the opportunity to provide self-service is doing so. Healthcare providers cannot afford to ignore this trend, especially as...
The financial dimension of the patient experience is extremely important. Today’s patients know they’re responsible for a significant share of their medical costs, and they want to be able to make informed decisions about their own healthcare. However, providers need to engage patients on financial issues earlier and more effectively to meet...
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...
