Helping patients manage financial responsibility can help preempt unnecessary denials, payment delays, and uncollected balances.
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 effective back-end collection efforts.
Reversing the problem is possible, however, by implementing the right best practices and revenue cycle management technologies. In particular, maximizing patient access early in the revenue cycle can help patients manage their financial responsibility and preempt many unnecessary denials, payment delays, and uncollected balances.
In this Dark Daily white paper - Patient Access Antidote: Retaining More Revenue with Front-End Solutions- take a deeper dive into the consumer trends having an impact on revenue cycle management, best practices in patient access management, and the expert-recommended tools and solutions that clinical laboratories can employ to respond.
We will also be presenting on Patient Access topics at the 24th Annual Executive War College. Don't miss the opportunity to learn new strategies to help your lab sustain financial stability and growth. We are proud to be a Benefactor Sponsor of this annual conference.
At Quadax we take on your billing needs so you can do more to improve the delivery of value-based care and transform patient outcomes. Explore our revenue cycle management solutions to expedite payment, maximize reimbursement, and enhance visibility into your business. Collect more by finding and fixing inaccurate patient data faster, verifying payer rules and regulations upfront, and even estimating a patient’s out-of-pocket responsibility. Get in touch and discover how we can help you create areas of opportunity to achieve the best possible revenue outcome for your lab.