According to Richa Singh of Collection Rx, 5-10% of healthcare revenue is lost due to lack of time and technology associated with the work involved to follow up on the cost of collections resulting from unprocessed claims, missing documents, and denials. In many instances, providers overlook claims that are not properly processed and, as such, miss out on revenue. More importantly, almost 40% [...]
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Patient satisfaction is an important goal for providers for reasons going way beyond a desire to be kind humans. It’s the first part of the Institute for Healthcare Improvement Triple Aim.[i] Better patient satisfaction has been associated with better medical outcomes and with reduced readmissions.[ii] Patient satisfaction scores influence reimbursement, both for the Inpatient Prospective [...]
PAMA has already made a significant impact for hospital and independent labs, and continues to do so with the redefinition of an applicable lab. PAMA has expanded the number of reporting labs to include smaller labs and hospital outreach labs. CMS estimates at least 43% more labs are now required to report under the new definition. Therefore, labs not reporting during the first period need to [...]
Primary Care Physicians often feel they’re running out of gas. The value they provide is real: research shows significantly better healthcare access and experience for patients receiving primary care. However, office visits to primary care physicians (PCPs) declined 18% from 2012 to 2016[i], suggesting that the value of PCP care is not widely acknowledged. Meanwhile, physicians experience [...]
Patients’ financial liability in paying for healthcare services is almost unrecognizable from that prior to the early 2000s; yet many organizations, including clinical laboratories, have struggled to modernize their collection practices in turn. As a result of this mismatch, labs risk not just losing out on uncollected revenue, but also wasting time and resources on futile or minimally [...]
