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.
Read MoreThere is a lot of information floating around about Early Out Self-Pay, an emerging healthcare service necessity, but as with many things, not all of it is based in fact.
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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