Posts tagged Patient Financial Services
Fast Money - Improving Collections & Value For Consumers

The need for speed of money has taken over!

Instead of having to go to the bank and talk to a teller, you can now access your money anywhere with an internet connection or telephone.  It now can take only mere seconds to wire money transfers and make payments instantly using an online portal or mobile application. 

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Early Out Self-PayMolly BauerHealthcare Resource Group, Inc. (HRG) HRGProscash collection, early out self-pay, patient care, Patient Financial Services, improve collections, HRGPROS, Kelli Daschbach
Are You Really Measuring Your Early Out Self-Pay Department?

Some organizations measure the value of a self-pay department exclusively on its ability to collect cash.  Cash collection is an important aspect of this department but fails to recognize the importance the of the self pay team in providing exceptional patient experiences.  To adequately measure your self pay department you should be looking at a variety of Key Performance Indicators (KPIs) on a regular basis.   These KPIs should have a balanced focus that includes measurement of staff performance, utilization of technology and patient experience.  Within your self pay department there are several simple KPIs with easy-to-monitor best practice metrics.

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Early Out Self-PayMolly BauerHealthcare Resource Group, Inc. Patient Financial Services, self-pay, early out self-pay, cash collection, KPI, Key Performance Indicators, ASA, AR Days, Revenue Cycle Tips, Average Speed to Answer, extended business office, complete business office, OutPartnering, outsourcing
Maximizing Self-Pay Collections At Tax Time

The upcoming tax refund season is an ideal time to implement some strategies to increase collections.  As patients get their tax return refunds they are presented with an opportunity to review their current financial situation.  Historically, almost 50% of Americans pay down debt with their tax return refund.  In many cases medical expenses are not at the top of their list because other debtors charge higher interest rates or offer settlements for payments in full.  Now is a perfect time to give patients a compelling reason to pay their medical bill.  

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Early Out Self-PayMolly BauerHealthcare Resource Group - HRGPROSself-pay, cash collection, collection tips, Healthcare, AR strategies, increased collections, Patient Financial Services, self-pay solutions
Are Throughputs Preventing You From Sleeping Through The Night

Do you spend sleepless nights thinking about how to maximize throughput within your revenue cycle functions? Throughputs can include increasing cash, decreasing days in revenue outstanding, improving customer satisfaction or maintaining compliance standards and the available strategies are often complicated by external factors such as: consumerism, newly insured patients, increases in patient liability, sophisticated payer edits, denials for payment and staff turnover. 

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OutPartnering™ CenterMolly BauerHealthcare Resource Group - HRGPROSthroughputs, increase cash, decrease days in revenue outstanding, customer satisfaction, compliance standards, profit margins, outside experts, strategic partnership, revenue cycle management, healthcare, AR health, hospitals, patient care, Patient Financial Services, compliance, outsourcing, Revenue Cycle Tips