Patients are today's new payers. How are you handling this change?
Tuesday, July 26th, 2016 | 12:00pm - 1:00pm CDT
With the rising cost of health care, and the increased financial burden to patients as a result of cost shifting with HDHPs, patients are the new payer.
Traditionally the industry, especially hospitals, looked closely at the payer mix, but there is a new paradigm - “revenue mix”. In most analyses, when looking as to where the accounts receivables are coming from, it reveals that after public payers (Medicare and Medicaid), commercial insurance is often ranked BELOW the patient for cash flow – this is the cause of the 1st dollar coverage coming from the patient, not the payer, as the patient pays down their deductible.
This session will look at the increased risk for uncompensated care and increased cost to collect, as hospitals are collecting more from patients than their insurance in the commercial market.
- Obtain an analysis of market trends for increased risk of medical debt, uncompensated care, and rising collections costs
- Examine strategies to offset bad debt through stratifying the bad debt portfolio into payment, charity, and bad debt buckets
- Articulate best practices with workflows, tools, and solutions that can be deployed elegantly and efficiently into the revenue cycle