Process, Propensity and Payment: How to Effectively Manage HDHPs
Tuesday, August 30, 2016 | 12:00pm - 1:00pm CT
HDHPs are a driving contributor of the 68 percent increase in patient payment liability from $250 billion in 2009 to $420 billion in 2015. Think it’s going away? It isn’t… average annual growth of out-of-pocket healthcare expenditures are projected to rise to 5.5 percent by 2023 from 3.2 percent in 2013. This rapid shift of patient responsibility is worrisome for hospitals because the payment methodologies and systems used by many are outdated and inconvenient when it comes to payment transactions among patients with HDHPs. Healthcare providers must therefore place more emphasis on optimizing the patient experience, particularly since it is becoming tied to patient satisfaction scores. Bottom line, if HDHP patients aren’t given the payment outlets and methods they want, or if providers can’t offer flexibility for customers with high balances, then there will likely be a negative impact on financial performance.
Can you determine what your HDHP patients like or dislike when it comes to how they pay their healthcare bills? How will you educate and engage the new HDHP patient, and where do these plans fit within your revenue cycle? In this webinar, you will walk away with strategies to manage HDHPs, with options that allow HDHP patients to pay their bills at any step in the revenue cycle process in ways that they prefer — be it before, during or after a medical encounter, using a variety of methods and technologies.
Topics covered include:
- HDHP strategies for increased reimbursement
- New patient experience methodologies
- Point of service techniques integrated with RCM methodology
- New mobile technology and security policies
- Patient data and propensity to pay