Patient Collection Rates Are Plummeting as Out-of-Pocket Costs Rise – We Weren’t Surprised!

Posted in Affordable Care Act, Healthcare Revenue Billing, Insurance Billing Solutions, Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Self-Pay Collections

Hospitals reported that patient collection rates dropped by 17.6 percent once patients owed more than $1,200 in out-of-pocket costs, a Crowe Horwath study recently confirmed. Hospitals collect significantly less from patients with higher out-of-pocket costs. The study revealed that collection rates for patient accounts with balances greater than $5,000 were four times lower than collection …

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Be Prepared for “Surprise” Medical Billing

Posted in Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Patient Access Management, RCM Solutions, Revenue Cycle Management (RCM)

A recent article on the Radiology Business Management Association (RBMA) web site discussed consumer’s frustration with the cost of medical care as being at an all-time high as many purchasers of narrow-network, high-deductible and high-co-pay health plans are finding out that the benefits they get from their monthly insurance premiums are much more limited than …

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AHA President and CEO Asks President-Elect Trump For “Steady as She Goes” Effort on Healthcare

Posted in Best Practices, Healthcare Revenue Billing, Insurance Billing Solutions, Medical Billing BPO, RCM Solutions, Revenue Cycle Management (RCM), Revenue Cycle Solutions

By Nitin Thakor, GeBBS President & CEO AHA President and CEO Rick Pollack recently sent a congratulatory letter to President-elect Donald Trump and asking him to go slowly on changes to our healthcare delivery system, particularly when it comes to the Affordable Care Act (ACA). This is good advice since healthcare represents a significant portion …

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Beware of Secondary Injury to Your Wallet after an ER Visit

Posted in Healthcare Revenue Billing, Insurance Billing Solutions, Medical Billing BPO, RCM Solutions, Revenue Cycle Management (RCM), Revenue Cycle Solutions

A recent article in US News and World Reportexplained a little known fact of which most patients are completely unaware. A trip to the emergency room could cause a secondary injury to a patient’s wallet. Even if a patient goes to a hospital included in his or her health insurance network, if the emergency room …

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Best Practices for Identifying Patients Who Have the Propensity to Pay Before and During POS

Posted in Accounts Receivable (A/R), Medical Billing BPO, Offshore Medical Billing, Self-Pay Collections

With cash flows declining, margins shrinking, and bad debt on the rise, it’s more important than ever for healthcare providers to maintain a steady stream of income. If your organization has not implemented an end-to-end, comprehensive best practices revenue cycle management (RCM) solution, it is time to do it! You don’t have to add staff; just call …

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Streamline Your Revenue Cycle Management

Posted in Business Process Outsourcing (BPO), Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Revenue Cycle Management (RCM)

In their May 6, 2016 newsletter, the AMA stated that: “Patient care is the top priority and a source of passion for physicians, but making sure the business side of your practice is ‘healthy’ also can contribute to better outcomes and patient satisfaction.” We couldn’t agree more! This has been GeBBS Healthcare Solutions’ philosophy from …

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End-to-End Revenue Cycle Management Will Keep You Out of the News

Posted in Business Process Outsourcing (BPO), Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Revenue Cycle Management (RCM)

A large Chicago-based health system recently posted an operating loss of about $186 million in 2015, nearly 15 times the amount reported in the previous year. In addition, the system will lay off 250 employees and leave 450 jobs unfilled. The health system has told its bondholders that it will write off $53 million of …

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Top 10 Reasons Why You Should Outsource Your Revenue Cycle Activities

Posted in Affordable Care Act, Business Process Outsourcing (BPO), Insurance Billing Solutions, Medical Billing BPO, Medical Coding, Medical Coding BPO, Offshore Medical Billing, Offshore Medical Coding, Offshore Revenue Cycle Management, Remote Medical Coding, Revenue Cycle Management (RCM)

In today’s healthcare environment of shrinking reimbursements, due to governmental mandates and Medicare policy changes, the importance of maintaining a healthy revenue cycle is second only to providing the best patient care possible. Without an adequate margin there can be no medical mission. One way to ensure your revenue cycle remains as healthy as possible …

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