Showing posts from August, 2021

4 ways to keep ahead of denials amid the pandemic

Revenue cycle leaders share approaches to keeping up with new codes and evolving payment guidelines during COVID-19. Understanding all that’s required to secure healthcare payment during a pandemic — especially for services related to COVID-19 — demanded that revenue cycle teams quickly refine denials management processes to protect their organization’s financial health. It also necessitated a spirit of patience and understanding toward payers, which faced a similar learning curve, according to Richard Madison, network vice president for St. Luke’s University Health Network in Bethlehem, Pennsylvania. “It takes two parties to get this right,” Madison said. While Madison and his peers encountered many obstacles that have complicated the task of denials management — including adapting to the needs of a remote workforce and dealing with the uncertainties surrounding payment for an unprecedented volume of telehealth services — their experiences also point to key factors in protecting reven

How Providers Can Improve Patient Financial Experience

In the aftermath of COVID-19, payment flexibility, digital engagement, and transparency are crucial to improving patient financial experience, recent reports show. In the wake of COVID-19, calls for patient financing flexibility, a shift to digital payment methods, and a need for increased bill transparency have providers changing course when it comes to improving patient financial experience. Two recent reports, one from Patientco and another by VisitPay , revealed new insights on the impact of the pandemic on patient financial behaviors and preferences. Both reports concluded that patients are more wary than ever about healthcare costs. “As the pandemic forced consumers to scrutinize their finances and prioritize which bills to pay, it’s become clear that health systems must offer flexible, tailored payment options to help patients manage medical bills in ways most convenient to them,” said Kent Ivanoff, co-founder and CEO of VisitPay, in a press release . VisitPay’s report compiled